I didn’t research into how to sell my car before I got started, at least not enough. This mistake cost me money and forced me to make mistakes. However, this is definitely a topic you should be clued up on. This post is over 6600 words, so I hope you benefit from it!
How to sell my car – 12 (IN-DEPTH) Tips
Hello fellow car flippers, I hope you’ve taken your first steps into making some extra cash for yourself. That first plunge is always the hardest, but anyone can do this I swear! Be sure to read my other posts and catch up. There is some valuable information for anyone hoping to learn how to make money flipping cars.
But for now, let’s go over the steps involved in exactly how to sell a car without the need of a dealer or a trade in.
Gather your paperwork.
Interestingly enough, people skip this part of the process when learning how to sell a car. People usually delay it until the end however, there is value in preparing it beforehand and is important in the steps to sell a car. Start by gathering the car’s title (US), V5 document (UK), service records, MOT certificate (UK) and original sales paperwork.
This paperwork will help you list your car accurately with all the technical specification of your car. This reason alone should be enough for any car flipper to consistently include it in their steps to selling a car. You may already know the basic information such as it’s a 2007 BMW however, is it an SE or ES? Is it an M Sport? That sort of thing.
Your paperwork will list all of this information along with more. You want to be able to list as many extras as possible. People tend to overlook a lot of extras, like Start/Stop button, CD player, SATNAV, etc. These extras can help you get an extra couple of hundred extra on your sale price. This point has personal implications for me. In particular when I first started and was still learning how to sell my car. I failed to list certain extras when listing the car. This could have cost me a few hundred pounds if I hadn’t got lucky with a kind buyer. Its things like that that made me want to share lessons on how to make money flipping cars.
Preparing all the documents beforehand will also help you sell the car on the spot. The legal requirements may vary depending where you are based. You may simply sign over a V5 document (UK), or provide the vehicle title along with a disclosure of the vehicles current mileage at the time of sale. The US regulations vary from state to state so I’ll go into this in more detail in the future.
Also, try to find as many service receipts as possible. Believe it or not, even receipts for minor things like oil changes, new bulbs, tyres etc, all show the buyer that you looked after the car. Its an excellent sign to a buyers that they should be getting a reliable machine if you can show that you’ve kept up with the manufacturer’s guidelines.
If for whatever reason you haven’t held on to your receipts, have a chat with your mechanic and see if they’ll print some copies out for you. A great tip I picked up when learning how to sell my car.
Other useful documents are:
- Warranty information
- Bill of sale (receipt)
- ‘AS IS’ statement
- Release of liability form ((DMV website))
- Any additional information depending on geographic location.
Conduct proper Research
Do some due diligence about your car before you list it. Thankfully I looked into this area greatly when I was learning how to sell my car. You should look out for information like what your car is selling for, how many of them are there currently for sale? Are you likely to have to drop the price in order to sell it fast enough? Are you likely to have to use multiple avenues to sell it?
If you’re researching how to sell a car, you should know that all these answers should be gathered before you decide on a price.
If you’re new to this and still learning how to make money flipping cars then be sure to download the free checklist that summarises this post and the steps to selling a car. These are all additions I wish I had when I was learning how to sell my car.
Begin with looking through the usual suspects for market information: Autotrader, eBay, Gumtree (UK), Craigslist (U.S). You can also check dealership prices however remember that their prices are usually higher. I would advise you to refine your searches online to as close as your model, mileage, trim in order to get a good idea of what your car is worth. I also used this research session to help me decide what platform to use when deciding how to sell my car. If it looks like your car seems to be listed higher on Autotrader rather Craigslist, then remember that for later.
Then compare this information to what comes out of a third party valuation tool, such as Autotrader for example. Ideally you want to be selling a little below market value for a quick sale of your car but of course, that decision will be dictated by your buying price. I’ve realised that your buying price shifts around your steps to selling a car.
Some guidelines on selling frequency to bear in mind:
- Collector cars are usually harder to flip and take longer to sell as your waiting for the enthusiast to knock on your door.
- Convertible sales’ usually spike in the summer. It takes beautiful weather to bring buyers to you, therefore winter may be slow.
- People carriers and family cars are usually consistently high in demand by families, etc.
- Vans and trucks are usually a steady seller however there is an abundance of choice for the buyer as the variations are usually small. This makes the market very competitive however can still be lucrative if you buy at the right price.
These are valuable insights that should affect your buying behaviour when starting out and learning how to make money flipping cars. I factored this in when learning how to sell my car as you should too.
Be aware of your Car’s true condition
You need to be honest and realistic about your car’s true condition, both cosmetically and mechanically. Just because the car looks super shiny from the outside doesn’t mean it everything is perfect on the inside. Generally, owners are more likely to misjudge the value of their car which leads to a
slower sale. A good idea is to approach your mechanic for once over or consider putting the car through a 50-point car inspection. When I was deciding how to sell my car I was on the fence on whether this was even worth doing.
However, I’ve found these checks help identify issues you haven’t noticed. On top of this, you can then state to a buyer what kind of inspection the car has had before it was listed, putting the buyer’s mind at ease whilst also making the car seems more attractive to buyers. This also shows that you’re being honest and upfront. You should bear in mind that a buyer may choose to carry out one of these inspections before the sale, so doing it yourself can help gear you up with the right information.
Choose between selling privately or trading-in your car.
After you have an idea of what the inside of your car looks like, you need to decide whether to sell the car privately, which means you sell it directly to a buyer, or alternatively trade it in to a dealer. I have to be honest, initially when I was still learning how to sell my car I was open to both. However, nowadays I’m not a fan of ever selling to a dealership especially now I know how simple the steps to selling a car are. Of course, you may find yourself in a situation where it is the best thing for you personally. On that note, Ill break down for you the advantages for both and let you decide. However, Im hoping that after this post you think to yourself, “Na, I know how to sell my car myself!”
Selling to a dealership:
- Usually quick and easy sale.
- You dont need to pay for advertising
- No need to get involved in the pre-sell haggle.
- No need to deal with calls from prospective buyers
- You can end up paying less tax on your next car if you’re trading in.
- YOU GET MORE MONEY – usually between 10-20%.
- You can handle the negotiation process yourself.
Ultimately, it depends on you. If you are strapped for time and need a quick sale then maybe a dealership
sale is perfect for you. Although you are taking the road of convenience by letting someone handle the hassle for you, just remember that they are buying the car from you at a price that they think they can make a profit on. If you’re serious however on how to make money flipping cars, go for a private sale. Me personally Id rather just learn how to sell my car and get the extra money.
Make sure you walk into that situation with the proper information and a clear idea of the value of your car. You can use a number of different car valuation services. The US have a wider range of offers such as Kelly Blue Book Instant Cash offer, which essentially offers a valuation that is redeemable at selected dealers who will honour the price and buy the car from you. The UK have a similar service at webuyanycar, as well as autotrader which offer a free valuation service for both buyers and sellers.
Pricing your Car
As mentioned previously the starting point is to have a proper look at what other people are listing the car for in classified ads. Then to carry out a few online valuations as mentioned above. I used these two pieces of information to help me get an idea of what my car was worth along with which platform to use when deciding how to sell my car. Remember if you’re selling privately your car’s price should be sat closer to the classified-ads prices rather than online valuation tools as these can be connected to dealership affiliations and are likely to low-ball you in order to buy the car from you. Note this down for your steps to selling a car for your next sale as I forgot this.
A good rule is to follow your gut, whilst also remember to leave a buffer in your asking
price for the buyer to negotiate. This means asking for more money than you’re actually willing to accept, for example, if you’re willing to sell at £9,000, list the car at £10,000-£10,500. It’s important for the buyer to feel like they got a good deal and to create a WIN-Win (#2) situation.
Sellers rarely achieve their asking price for a car, so if you’re still learning how to sell a car don’t be frustrated that everyone is low balling you and offering you less money than your asking for. When I was still learning how to sell my car, the amount of shameless offers I got that were way under my asking price would annoy me. Now I know not to take it personally as Iv accepted that there are other people out there learning how to make money flipping cars, just like me and you!
Ill mention something else that I wish I knew when I was still grasping how to sell my car. I recently watched a video on YouTube about the phycology of the pricing techniques used within business, more specifically by car dealerships….
As I’m sure you’ve noticed dealership prices usually end in strange figures, for example $14,995, rather then £15,000. Although a small percentage of people would mentally register the car’s value as being cheaper than £15,000, this isn’t actually the reason its done. The reason they do it is aimed at the negotiation process. Let me explain, if the car was priced at £15,000 you would feel no shame in asking to pay £13,000 or maybe even £12,000. However when the price is £14,995 you would negotiate the buying price in smaller chunks and most likely ask to pay £14,500 instead. By setting the figure in the awkward position, they begin the negotiation process in your mind before you have even decided to buy the car. Clever right? I now implement this strategy constantly when it comes to how to sell my car, regardless of which platform I’m using.
By setting the figure in the awkward position, they begin the negotiation process in your mind before you have even decided to buy the car. Clever right? I now implement this strategy constantly when it comes to how to sell my car, regardless of which platform I’m using.
You can also implement this strategy when pricing your cars, some might argue that you don’t want to look like a dealer yourself, however if you can learn how to sell a car and make £500 more per flip using this method, then who cares. I would advise you try both and see what works for you. I think it’s a winner.
You should also be aware of the value of the extras that come with the car, for example a transferable warranty, full service history, regular and documented maintenance, brand new tyres, etc. These can all increase your market value and allow you to list your car higher. If your just getting into buying and selling cars, be sure to remember that this is included in your steps for selling a car, so start asking for this sort of paperwork when you go to buy a car. I didn’t pay too much attention to this when I was learning how to sell my car and if I’m honest it probably cost me a few hundred quid now.
If however the car is due a service, or has been in an accident, or maybe there is nothing wrong with the car but it is in an undesirable colour, these are all factors that may decrease the market value of the car and force you sell at a lower price.
Generally speaking, if all factors are equal, the lower your car is listed for the more calls you’ll get, so as I said use your gut and find that sweet spot.
Make your Car look as attractive as possible.
A useful fact I picked up when setting out on how to sell my car. For those of you that don’t know too much yet about how to sell a car. You should at least know this. The psychology behind buying behaviour suggests that buyers will make up their mind whether they will buy the car within the first few seconds of viewing the car. For this reason, the appearance and presentation of the car needs to be on point! Bearing this in mind, be sure to properly prep your car before you even advertise it.
Most buyers now expect a minimum level of preparation when going to visit a potential buy so you should cater to that expectation. This goes further than just taking your car for a basic wash. Good news is, I have compiled a basic outline from when I learnt how to sell my car. It’s below for you to follow however I have gone into even more detail in another article and put together a huge checklist so you don’t miss a thing. If your interesting in learning how to make money flipping cars then you should definitely download it and put it in your tool chest. (your welcome!)
In the meantime, here’s an outline for:
- Have the car washed and dried properly.
- Have the car waxed and polished, you can either do this yourself with some T-cut or have a local car wash do the work.
- Make sure there are no dints or serious scratches on the bodywork. If so it may be worth getting it sorted before you advertise. Low cost repairs are always better to have fixed rather than to sell the car ‘SOLD AS SEEN’. Dent removal can be relatively cheap and saves the buyer the headache of taking the car to a body shop, not to mention not affecting your asking price. I learnt this the hard way when learning how to sell my car, buyers will use any tiny dent for an opening to a price reduction. If the car need extensive repair then consider selling to a dealer as they receive big discounts on body work.
- It goes without saying but the inside of the car should be free from rubbish and hoovered properly.
- Make sure the car is working as it should and isn’t making any noises it shouldn’t. This includes strange sounds when braking, turning, and reversing, going around roundabouts. This could complicate or even ruin a sale at the point of the test drive as buyers don’t want to think about having to repair the car before they purchase it. It goes without saying that this is very important in the steps to selling a car.
- Make sure the brakes are working properly and aren’t making a crunching sound when slammed on.
- Tyre thread should above the legal limit at the very minimum however it’s always better if they have a healthy tread on them.
- If the car has alloy wheels, make sure they are sprayed down properly with a jet wash, then polished up. Also be sure to make sure the wheel covers and brakes are free from dust.
- Apply tyre gloss on the tyres to give them a new-look shine.
- Make sure the windows and mirrors are free from smears and prints. Most people don’t realise that the plastic dashboard of a car actually lets off an oily substance onto the windows over time, making it look dirty even when its clean. Use a microfiber cloth to rub this off in a circular motion.
- You could purchase anti fog spray for the interior windows (cost approx £1 in the UK). This products stops the windows fogging up which is very useful in my opinion. This is a great conversation point to be had with the potential buyer during the test drive. This helps the buyer visualise the car as their own which is the kind of thinking you want to promote. This is a tip I picked up from a friend when learning how to sell my car. It’s worked great for me.
- Make sure all lights are working, they are relatively cheap to replace.
- Windshield wipers should be working correctly as these are always checked when the buyer is in the driver’s seat.
- Wipe down all of the interior with the appropriate wipes to give the interior a gleam.
- Prepare all maintenance and service records ready to be shown if requested. Being able to talk about recently changes brakes, or drive shaft will help you sell the car much quicker as it reassures the buyer that they won’t need to worry about fixing up the car themselves.
- Be sure to have all oil changes and services done beforehand.
- Having a mechanic issue a report on a third-party check of the mechanics of the car is also a great way to
- Order a vehicle history check on your own car in case the buyer wants to see it. This is an important point when it comes to how to sell a car.
Advertising your Car
Advertising your car is the next step after you’ve gotten it working properly and looking the part. My preferred method of getting the word out is through online classified ads. They are generally cheapest and cover the greatest area, not to mention this is where most people are looking. This was the method I settled on when deciding how to sell my car.
Here is a list of categories for you to consider within the steps to selling a car:
- The good-old ‘FOR SALE’ sign on the window. Be sure to look the part though and buy yourself a proper set of pricing labels. That way you can let people know what you’re asking for the car, similar to how you see in dealerships. I see too many people literally write a note by hand on an A4 sheet of paper and leave it on the dashboard. A big NO-NO if you ask me.
- You should always do your best to see if you can drum up business through word of mouth. Remember this is how business was done before the internet!
- Get Online! Using websites such as Autotrader, Cars.com, craigslist and eBay are great as they are free/cheap to use and generate a lot of traffic for your listings.
- Forums &Message boards, a lot of the car sites have a section for classified ads and will allow you to list your cars on there, usually for a small fee.
- Social Media: Use Facebook and twitter to help you promote your listing. If you’re shy about spreading the message through word of mouth, then this is a great alternative.
Most of these options will require you to be able to take calls and texts from prospective buyers. A piece of advice is to leave a personal and inviting voicemail message and remember to reply quickly to missed calls and texts as most people may choose not to even leave a message. Something I knew to do beforehand when I decided how to sell my car.
Create a listing that sells!
Think about how you come across when listing your car. It goes without saying that you need to include all the vital information. This includes Price, Make, Model, Trim, Year, Customisations, etc. Then portray to the buyer how eager you are to sell and where your head is in terms of the price you set. Some abbreviations within this industry are as follows:
Firm: This indicates that you are not interested in negotiating and the price is final.
Asking Price: This indicated that you are open to negotiation.
OBO: This stands for ‘Or Best Offer’ and shows that you will entertain figures lower than the asking price.
Must Sell! This means you’re looking for a quick sale and will generally promote low-ball offers, so be warned!
Use this information to show buyers where your head is and think about the kind of buyers you’re looking for.
Be sure to include photo’s that do your car justice, actually your hoping for photos that maybe do it more justice than it deserves in order to promote viewings and visits. I actually invested in a decent camera when I decided how to sell my car. It looks so much better than any picture from a smartphone. If you’re serious about how to make money flipping cars, you should do the same.
A basic outline of what to include in your listing is as follows:
- Include a basic description of features that are in demand such as low MPG, low mileage, warranties, MOT, and any other special features.
- Be honest about its condition, buyers appreciate honesty. A listing that highlights slight bumps and bruises on the body will help you come across as more trustworthy.
- Include the VIN number of the vehicle so the buyer can carry out their own vehicle history check.
- I personally like to mention a reason why I’m selling the car. I usually get asked this a lot, probably because the buyer wants to assess where I’m coming from.
- State the price for the car and your negotiating terms using the terms listed above.
- Define how you want to be paid. I personally only accept either cash, or BACS transfer.
- Include MANY photos, the more the better, and make sure they are spectacular. Pick a sunny day to take the pictures and do it in an open space. Be sure to include lots of photos of the interior as well as under the bonnet.
Screening potential Buyers + Safety
Selling a car should be a simple process so don’t ever feel pressured to enter into a sale. When contacted by prospective buyers use your gut to evaluate whether they seem like an honest person you wish to do business with. Your dealing with a serious amount of money so if the buyer seems weird or starts pulling out strange stories of how they wish to carry out the transaction then walk away, there will always be another person that rings you. I had to keep reminding myself of this when I was on the fence about a buyer. Deciding how to sell my car was easy, I would always choose safety over speed.
The fact is, if the buyer is genuine then they will be sizing you up just as you are sizing them up. They will want to evaluate whether you are trustworthy, what kind of person you are and how that translates into the amount of care you took of the car. When you’re learning how to sell a car remember that it’s the buyer forking out the cash. So do your best to make them feel at ease.
That bring me onto my next point, where to meet potential buyers. I have a read a lot of mixed opinions on this issue so I shall give you an overview of both points of view and let you know where I stand.
Some people don’t feel comfortable meeting people outside their house when hoping to sella car. Most likely because they don’t want prospective buyer knowing where they live mainly in case they are thieves hoping to steal the car at a later date. When learning how to sell my car I heard a story about someone I knew who invited a potential buyer to their house for the viewing. Upon showing the guy around the car the seller left the keys in the ignition for a second. The guy jumped in the driver’s seat and drove off. The car was found a few days severely damaged. Luckily he had motor trade insurance and recovered the value of the car.
Alternatively you can meet them at a car park or a public place. However, you should try to take someone with you when doing this for the same safety reasons. Do not agree to meet the potential buyer at a secluded spot that they set. This is something I was sure to follow when I decided how to sell my car.
However, the truth is there is risk wherever you decide to meet. It’s just about how you reduce the risk and what precautions you take. Don’t ever leave the keys in the ignition like my friend did and always make sure you’re insured. On the other hand, bear in mind that when a buyer meets you at your home, he is more likely to trust you rather than if he met you at a car park. Remember the buyer will eventually know your address anyway if they complete the sale as you’ll have to sign over the car to them. All I’ll say is do you best to use the initial phone call to assess the buyer over the phone before you meet them. If you get a bad feeling go for the next option.
I personally just meet them outside my house unless I have a bad feeling, then I’ll take someone with me to meet the buyer outside a shopping centre or something. The truth is, if I have a bad feeling I will most likely not even arrange a viewing, simple as. Another option is to go to the buyer house although some buyers don’t like this, I don’t mind it personally as it lets you know where they live, just make sure you see that they have access to the property and the address on their driver’s licence matches up.
Now as for the test drive, that needs just as many precautions. I clued myself up on this a lot when I decided how to sell my car. I like to negotiate the price before even starting the test drive just so were not wasting anyone’s time. The last thing I want when selling a car for £6,000 (for example) is to spend an hour going through the specs and the test drive then the buyer won’t go higher that £4,000. Waste of both of our time.
Okay so before you let the driver get in the front seat. Take a copy of their drivers licence and check the photo matches up. This is just an extra level of safety that will put your mind at ease. Okay then after you’ve done that, don’t hand over the keys. Ask the buyer to sit in the driver’s seat first. Then you should sit in the passenger seat and pass the keys over from there. That way the buyer can’t just drive off before you have a chance to get in the passenger seat. Be sure to include this every time in your steps to selling a car.
Be prepared for the buyer to ask to take the car to a mechanic to have it inspected. Ideally, you will already have an inspection report at hand. Maybe from the inspection you had someone carry out when you bought the car. They may still wish to have their own inspection done, if so there is nothing wrong with that. In fact, it just means they are serious about the purchase which is what I like to see. Just make sure that the inspection is either done in front of your house. Alternatively, go along with the buyer to the mechanic’s garage and sit in on the inspection. Again safety is key, and this is something I was sure to include when deciding how to sell my car.
Before agreeing to a viewing make sure you set a few things straight so your both on the same page. Such as the buyer’s full name (you can provide yours), where they are based and acceptable forms of payment (CASH is KING). When I decided how to sell my car, the payment method was this thing I was the most unsure about. Bank transfer is also acceptable however, don’t hand/sign anything over until you see the money in your account. If the buyer wishes to pay by bankers draft/cashiers cheque, ask to go with them to the bank when it’s being issued. You don’t want to give your car away in return for a counterfeit piece of paper.
Do not accept cheques. Anyone asking to pay in instalments or hoping to finance the car is a waste of your time. Again, be sure to include this in your steps to selling a car.
I prefer to sell to people in my area. If you’re starting out and still learning how to sell a car you should do this as well. This approach both puts both of your minds at ease whilst also protecting you from out of town fraudsters.
Selling during the test drive
It goes without saying that you should always accompany the driver during a test drive. Regardless of the collateral they offer. I also advise not be outnumbered in case the worse could happen. Buyers commonly ask to bring someone along so assess the risk and decide accordingly. For example, if it was a father and son then I would have no issue. However, two shady looking men, no thank you! When I was learning how to sell my car I would never have risked being outnumbered.
Choose a safe route to take when taking the car for a spin. Be sure to make sure your insurance covers test drives for additional drivers. For this, as mentioned above, you will need to take a copy of their driver’s licence beforehand.
Try your best to anticipate questions before hand, for example why is the car so cheap/expensive. This is a pro tip when it comes to how to sell a car. From this you can have answers and paperwork at the ready to handle any queries. Remember that the buyer is sizing you up as well as the car. So do your best to be knowledgeable and friendly.
Coming across honest is a big factor in the steps to selling a car. This is especially the case during the test drive so be up front about any knocks or dings the car has had. Try also to offer to provide all service and maintenance records on any work done. One of the reasons buyers prefer to buy privately is that they can get a more accurate idea of what the car has been through. Do your best to cater to this expectation.
Use some sales tactics and build a rapport with the buyer. Get to know them and ask questions about what they currently drive and what it is there looking for in a car. This information will aid you in promoting your cars strengths in a way that will connect with the buyer whilst also making the buyer feel at ease. Learning how to sell a car means getting into the mind of potential customers in order to make the sale. This is something I was sure to try and take advantage of when I learnt how to sell my car.
Regardless of whether you choose to discuss money before or after the test drive. You should have taken my advice earlier and left a margin of wiggle room in your asking price. You should have a minimum figure in your head that you stick to. Remain confident that there are other buyers that will be prepared to pay your price.
Let the buyer begin the haggling process by either accepting what you’re asking for the car or providing a counter-offer. If the buyer offers a figure under your minimum price then be clear that you’re prepared to walk away. Then actually do it! You usually end up getting a call in a few days with the buyer accepting. If you get a reasonable offer, just accept it and look towards the next car flip. I decided on a minimum figure when considering how to sell my car and ended up getting more anyway. However, like I said, I would have gladly walked away if I had been offered under.
As I always mention! if you’re hoping to sell the car immediately then make sure you have the paperwork all ready to go.
Some common language for you to prepare for:
“The car is nice, but…” then the buyer provides an excuse of why the car isn’t worth what you’re asking. If you’re confident with your car and what you’re offering then ignore their reasoning. This is a feeble way to begin the negotiation in my opinion and may be a sign of inexperience. You want to hear then come out with a number so you can ‘deal-or-no-deal’ it. Just respond with “What are you willing to pay?”
“What’s your best price?” This is a more direct way of the buyer asking you to reduce the price however, don’t be in a rush to budge too much. You can drop £/$100 if you fancy it just to get the ball rolling.
“Would you take…?” This is the most direct way of beginning a negotiation process but at least it gets the ball rolling. However, someone this upfront will usually offer a number that is too low. You should then drop enough off your asking price that will ideally force the buyer to meet you half-way at a point that is above or at your minimum price.
“Take it or leave it..” Apparently, the buyer has no room for negotiating further, if it’s a silly number happily walk away and be confident in your decision. The market is such that there is usually always another buyer.
These are just a few examples however, you should think carefully about your responses beforehand. Try not to negotiate with people that haven’t even seen the car (via email, text, etc). This is usually a recipe for disaster and is usually a sign of an inexperienced car flipper. I witnessed this a lot when learning how to sell my car. Always just respond with an invitation for a viewing.
Finalising the Sale
This topic is a complex one and varies from country to country and state to state in the US. So for that reason, I’m going to keep it (relatively) short and sweet.Ill go into in more detail in another post. Thankfully in the UK its super easy. For that reason, there wasn’t much to research required when I was learning how to sell my car.
A Bill-of-Sale should then be used when the sale is struck and the money has been paid. Iv attached one to this page if you don’t have one. The bill should specify if the car is ‘Sold-as-Seen’.
Remember to take a record of the current mileage as this is part of limiting your liability. If someone gets themselves into an accident after driving off from the sale you need to be able to draw a line in the sand showing where your liability ended and where theirs started. To do this you would fill out a release-of-liability form. This document states the time and date that the car left your possession.
New owners in the US have the titles signed over to them, along with the licence plate, depending on the state and sent to the DMV. A new title is then sent to the buyer in the post. In the UK, you would also fill out the appropriate part of the V5 document that states who is responsible for the car. Then send it off the DVLA who would then send the new V5 document to the new owner.
Be sure to include any other information the country/state requires when transferring ownerships. Also be sure to make copies of everything before handing over the keys!
Finally, notify your insurance provider and remove the car from your policy.
This page is scattered with checklists and tools on this topic. Why not download them and use them on your next flip. They breakdown what was discussed and summarise it for you in checklist format. Im sure they’ll make things easier for you!
Okay guys……….I think I’m done for now. This post has ended up much longer than I thought it would be at over 6500 words and Iv done my best to give you a general overview of the steps to selling a car. Iv mentioned a lot of it from a personal perspective, in particular to the things I learnt when deciding how to sell my car. Hopefully though it has broken down for you one of the most crucial parts of how to sell cars. It doesn’t need to be stressful at all. Just take one day at a time and be sure to really enjoy each and every car.
Buying and selling cars should be fun, especially considering the amount of money that you can make. Best thing is anyone can learn how to buy and sell cars, you don’t need to be a genius I promise you. Just stick with me and ill guide you through the process.