How To Buy Or Sell On Classics Gone Wild
Frequently Asked Questions About Buying Or Selling a Car
Global Questions
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The best way to sell your car quickly and easily so you’ll get the most cash is to sell it online using Autotrader.
- Organize your paperwork, thoroughly clean the vehicle and then determine your car’s value in order to price it accordingly.
- Write a detailed description of your car and take many good photos, both inside and outside of the car.
- When buyers start contacting you, you’ll need to be prepared to deal with questions about your car and requests for test drives.
- Once you have a qualified buyer lined up, come to an agreement on price, finalize the transaction while protecting yourself financially and legally and then transfer the title and ownership. Read more about how to make the best used car online ad.
Regardless if your car is an exotic, an everyday driver or a junker, there are seven documents you’ll need to sell your used car privately:
- Vehicle History Report
- Maintenance records
- Transferrable warranty (if applicable)
- As-Is documentation
- Odometer mileage disclosure
- Vehicle title
- Bill of Sale
First, you’ll need to review the required documentation and process to transfer ownership of a car as outlined by your state’s Department of Motor Vehicles. Second, if you don’t own the car outright and there is still a lien on the car, you’ll need to contact the lienholder (usually a bank) to find out how much you still owe on the car and then find out the steps involved in transferring the title. If you have the title in hand, you can sell the car and transfer the title to the new owner. You can sell a car without a title you just need to contact your state’s DMV and get a replacement title prior to selling the vehicle. Lastly, make sure the payment for the car has been secured and then sign over the title and other documentation to complete the sale.
Assuming you are selling your personal vehicle for less than what you purchased it for, no you will not pay any taxes. The buyer will pay any state or vehicle taxes levied directly to their county or state DMV. The seller does not collect or charge tax in addition to the price of the vehicle. If you are selling a car for more than the current Kelley Blue Book value, you will have to pay capital gains taxes when you file your tax return.
Payment Questions
First, you’ll need to review the required documentation and process to transfer ownership of a car as outlined by your state’s Department of Motor Vehicles. Second, if you don’t own the car outright and there is still a lien on the car, you’ll need to contact the lienholder (usually a bank) to find out how much you still owe on the car and then find out the steps involved in transferring the title. If you have the title in hand, you can sell the car and transfer the title to the new owner. You can sell a car without a title you just need to contact your state’s DMV and get a replacement title prior to selling the vehicle. Lastly, make sure the payment for the car has been secured and then sign over the title and other documentation to complete the sale.
To sell your car in the fastest way and to get paid the most money, you’ll want to make sure you write the best possible online ad using the following key points:
- Explain why you are selling the car
- Define the forms of payment you are willing to accept
- Disclose what vehicle paperwork or maintenance records you have
- Disclose any issues which need to be fixed
- List the car’s key and unique features
- Mention any added or custom modifications
- Take lots of clear high-quality photos, both close and wide shots
- Use proper punctuation and grammar
Once your vehicle is ready for prime time, photos are key. And you should take them immediately after the detailing is complete to capture your car at its finest.
“Pictures, pictures, pictures, please!” asserts Tye Frazier, AutoTrader.com Customer Adviser. “And don’t just take one shot of the exterior. Get several different angles, under the hood, inside the trunk compartment, the wheels. Try to think of all the things a buyer would want to see, and show them.”
If you continue to drive the car while you’re trying to sell it, keep it garaged if possible. It’s not likely you’ll keep it in picture-perfect condition, but keeping it out of the elements as much as possible will help keep it looking sharp.
To make sure you’re always negotiating from a position of strength, it’s important to arm yourself with as much information as you can. Selling your car can be a rewarding experience when you transform your knowledge into negotiating power.
A Vehicle Identification Number (VIN) is a unique 17-character sequence of numbers and letters assigned to each car by the manufacturer when the car is built. This number can be found in these places: Driver’s side of the dashboard by the window, driver’s side doorjamb, and on your auto insurance card or state registration form.
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