The Most Important Documents That You Need Before Meeting a Buyer

 

The MostImportant Documents That You Need Before Meeting a Buyer

When it's time to put your car up for sale, most people are so focused on ensuring that they're getting enough money for it that the little but crucial details get lost in the haze. That is until it's time to meet a buyer and you don't have what you need. Having the correct documents before meeting a buyer will streamline the process, getting your old car out of your hair and the money for it into your hands faster while leaving a good impression on the buyer.

The Title

With the title in your possession, you own the vehicle. Unfortunately, like most pieces of paper, the title can easily get lost in the sauce. Although hopefully in a safe place, you may need a little extra time to locate it. Without this piece of paper, you can't transfer vehicle ownership to someone else.

 

If you're still forwarding payments on the vehicle, the title is with the lien holder, usually the bank. You can still sell the vehicle; it's usually just a little more complicated and requires a call to the lien holder. By contacting them, you can get an exact idea of how much money the vehicle owes, and they can tell you how to sell your car.

Odometer Disclosure

A federal law called the Truth in Mileage Act requires sellers of motor vehicles less than 10 years old to provide a disclosure of the odometer reading. Depending on your state, this could be as simple as a spot on the vehicle title or a separate form. First, check your state's Department of Motor Vehicles website to see what category you fall in.

 

The odometer disclosure usually includes the following:

•       Year, Make, Model and VIN

•       Buyer’s Name, Address, and Signature

•       Seller’s Name, Address, and Signature

•       Current Vehicle Mileage at the Sale Time

•       Notary Public Signature/Seal

Other Documents that are Good to Have

The title is by far the most important thing to have when selling your vehicle. However, other documents can help you protect yourself and the person buying your vehicle.

Bill Of Sale

While not required, this can help to document terms and conditions at sale in writing, including:

•       Vehicle Description

•       Odometer Disclosure

•       Purchase Price

•       Delivery Date

•       Signatures of Buyer, Seller, and Notary Public (not necessary, but it does legitimize it)

Warranty Documentation

Having a transferable warranty can justify a price increase to the asking price for your vehicle. However, you'll need to be able to prove that beforehand. Having the warranty documentation will show that there is still a warranty on the car and will have the contact information so the buyer can transfer the warranty to themselves.

Have Everything Ready to Sell Your Car

When selling your car, you want to ensure that you have all your T's crossed and I's dotted. By compiling all your paperwork well before beginning the selling process, you can give yourself plenty of time to have everything in order, ensuring a smooth process.

 

With MaxxVin, you can make this process even smoother with an online system to get the most for your car. Visit our site to see how we can help you make more than you would trading in at the dealer with just a few clicks.

 

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