Thinking of selling your old car?. First thought of selling your vehicle itself gets you all complicated and you start thinking about the process and the hustle. But it’s not so complicated like you make it in your mind. Once you get the clarity of the process, you will sell your car in no time.
Here is a complete guide for you if you want to sell your car in New Jersey.
1.Calculate the worth of your vehicle
What you want from this sale is profit or at least the worth for that car. So, your first step should be calculating how much really is your car worth for. That’s some complicated maths, so, leave it to the experts.
2. Assemble the paperwork
Get all your documents together right now because you don’t want to rush and panic when your car is already sold but you don’t find your car documents now. So, to avoid any future hindrance get this done right away.
Especially in New Jersey, these are the following mandatory documents you require to sell your car.
You are required to sign a title and hand it over to the new owner.
If you have provided regular maintenance to your car, that makes your car reliable for the buyer. Also, you should have kept the maintenance records of your car or get it from your service provider if you don’t have it.
Bill of Sale
You also need to make a bill of sale to document the terms and conditions of the sale so that you are out of all liabilities. This avoids any dispute as you have a proof.
Release of Liability
You need to have this form to state that in case the vehicle goes through an accident after you have sold it, you are not liable for any charges for it. This is a very important document because this prevents any dispute in the future due to accidents or any other hazards
If your car is still under the manufacturer’s warranty period, you will have to hand it over to the new owner of that vehicle.
As- is documentation
If the warranty period is over then you need to make it clear with the buyer that you are not liable anymore for the damage on the car once you have sold it to him/ her.
3. Clean Up Your Vehicle
Before selling your car you need to do a thorough clean-up of the car because the owner should be convinced that this car has been properly taken care of.
Before taking pictures to post it online, get the exteriors and as well as the interiors clean and sleek. So, you need to get these things done for that:
- Wash and wax the exterior of the vehicle.
- Clean the rims and tires.
- Replace or wash old floor mats.
- Vacuum the floor, seats, and trunk.
- Clean the ashtrays.
- Wash the windows inside and out.
4. Take Pictures
Once your vehicle is clean and glossy, start clicking pictures. Get as many pictures as you can and find the best one to post it online because it really attracts the customers and also will have a good potential to get sold fast.
Take pictures from multiple angles so that the buyers can have a proper perception of how it looks and its exterior condition. You need to include these following shots of your vehicle.
- Both sides.
- Front and back seats.
5. Find a place to advertise
You can find numerous online classified services to sell your car where you can find many potential buyers for your vehicle. You have plenty options although we have listed a complete guide so that you get everything right out of this online sale.
6. Provide your car details
Your potential Buyer needs to know everything about your car, then only he/she will consider to buy it . So for that you need to mention each and every detail about your vehicle on that listing inside out.
A detailed information will make your buyers think that this is a genuine seller and will also try contact you because of that.
Some of the mandatory information you need to provide are listed below:
Be sure to include if the price is firm, OBO (“or best offer”), or a quick sale.
Condition of the vehicle.
Any history of accidents or damage.
Modifications or upgrades that have been made.
This will help the buyer order a vehicle history report (VHR) for the vehicle.
Number of owners.
7. Verify your buyers
Once you have posted your vehicle online, you may start receiving calls, messages and emails. So, before finalising anything you need to verify your buyers and see if they are genuine and not fraudsters.
Before making an appointment with your buyer make sure you follow these guidelines to avoid yourself from getting into any kind of problem
Ask for his full name
Clarify forms of payment that will be acceptable.
Checks and money orders are a riskier option, so if you accept these methods make sure you have the funds in hand before you sign over the title.
Make sure the buyer knows monthly payments aren’t acceptable.
There’s no way for you to collect if a buyer decides to stop payment.
Determine if the buyer is in the area.
National or overseas sales will complicate the process, especially if the buyer doesn’t plan on looking at the vehicle first.
8. Work out a good deal
Once you verify your buyer then you can now organize a meeting in a public place maybe. Once you two meet, you need to state your starting price that is higher than what you willing to accept because the buyer may go for a negotiation. So, be prepared for it and work out a good deal which is a win-win for both of you.
9. Cut The Deal
Once you have finalized your deal then get starting with the paperwork now. If the buyer gives you a cheque then go to the bank with him/ her and get the payment done. After that all you need to do is :
Complete the bill of sale.
Sign over the title.
Fill out the Release of Liability.
Submit this form to your state DMV if required.
Provide warranty documents, if applicable.
Provide copies of maintenance records.
Be sure to black out personal information to avoid identity theft.
Include any additional transfer paperwork your state may require.
Hand over the keys!