For those of you who are following my posts on car buying here is one on selling a car outright without purchasing another one from a car dealer.
If you don't like dealing with all the people who will call you and don't like negotiating or hassle Carmax, hands down. They pay off your loan if you have one that is less than your car is worth and cut you a check for the difference. If you don't owe anything they just cut you a check for the price they offer. Easy peeza.
Now we have Craigslist. or Cars.com or any other website. Actually Cars.com is actually better for cars with less than 100k miles or less than 5 years old, but Craigslist gets more local views.
On both sites you will not only get seriously people but you will also get independent car wholesalers and even worse curbside car dealers who will want you to leave the title open so they can sell it to the next guy pretending to be something they are not.
When you sell a car to anybody get a copy of their drivers license and fill the title out with their name on it. Do not leave it blank. Once again in case you weren't listening, DO NOT LEAVE IT BLANK.
If the car you are selling is for less than $2000 get cash. If you are selling an expensive car go to their bank and have their bank cut you a check. It's even better if their bank is your bank. Do the deal at a bank. Normal people aren't afraid of banks.
The person buying the car should have a drivers license that matches an insurance card that matches another piece of ID.
My Astro Van was a cash Craigslist Deal. The guy wanted me to leave the title open. I told him no way. He said he wanted to put it in his mothers name. He did not want it in his name. In the end we put it in his fathers name who came with him. I gave him a bill of sale. You can get one off the internet. Make sure it says AS IS, No Warranty Express or Implied. I told him the defects known to me. I also put them in my add along with AS IS. He got the car and the title and I got cash. $1200 more than Carmax.
In the past I also sold a $5000 car to a private party. It was to a mother and daughter. I had clear title which is always best. That way you can just go to their bank and the teller hands you money and you give them the title and get it notorized on the spot.
The laws in your state maybe different from mine. The laws in my state might be different from what I have posted here as well. I am not giving legal advice. Before you do anything get legal advice. My advice is really just my opinion. I have found that honesty is really the best policy.
Buying or selling a used car is always a gamble. Know that going in. Minimize your risks. Buying or Selling.
Most of the time buying or selling a used car is best done between private parties. Just do your research and take your time. Maybe watch an episode or two of Judge Judy.
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