Are you planning to get rid of your old used car? Well, maybe it’s time to switch gears and try out something new. Before you finally get rid of it, you need to remember about the essential paperwork. If this seems like a troublesome task, be sure to read the text below. It contains the info about the paperwork you need to collect while selling your car.
First things first, before you even put the car up for sale, you need to find the title. This is a document containing the basic information about the car’s owner. It is essential for your car’s buyer to finish the registration process. In case your car has been paid up for totally, you will have this one at home. However, in case you still have a car loan to pay for, the title is probably possessed by the lien holder (in most cases, it is the bank.) So, if your car is the subject of the loan, you just need to notify the holder about your selling the car. This will let you arrange a meeting, during which you will receive the loan release, along with the title. Of course you must not forget that in order to obtain these, you will have to pay up first. Hence, it might be a good idea to make some arrangements with the buyer, so as to go to the bank to make the transaction go much faster. So, the buyer will give you the money for the car, while you will receive the title, after handing the money over to the bank. Simple, isn’t it?
The title is actually the most important item, but, unfortunately, the whole story does not end here. When you’re selling the car, you’d better be sure that the license plates are affixed on it. Why is that so important? Basically, this will let the new owner move around and later. Then, the buyer will be obliged to register the car in their own name, which generally means putting new registration stickers on both plates.
And one more thing the sale bill. Apparently, without this document, the buyer won’t be able to register the car. So, every car owner has to create one, before they get cash for cars. This document contains basic data on both parties that participate in the sales. So, it would include your and buyer’s full names and the addresses. In addition, it contains some basic information about the car that is being sold. The following data need to be included there: make, model, the year it was built, VIN number, and the color. If there are any special conditions applicable, they need to be inserted in the bill as well.
As you might see, completing the sales, so that you will get cash for cars, is not rocket science. There are just a few documents you have to remember about, as they are essential for the buyer to fully take over the newly-bought vehicle.