If you own a old junker that has quit running, or is not particularly reliable, you may be spending too much time, and money, trying to fix it. You might not get anything for it from a dealer, but there are other options available that might get you some money out of it. Selling a junk vehicle can have pitfalls. I got some money for my car not long ago after heeding the advice of the pros.
Do not try to color the truth when it comes to the auto's condition. Every state has a version of the Lemon Law. Lemon Laws were created to protect buyers from unscrupulous sellers claiming the cars they sell are in better shape than they really are. If you sell a vehicle with a safety defect, without informing the buyer, you will probably be held liable for court costs, penalties, and fines if the buyer sues you. You must be absolutely truthful about your vehicle in order to stay on the right side of the law.
Before you advertise your junk auto for sale, you have to find out what it's worth. You can go online and put in the information about your vehicle to get comparable sales in your area. You can also go to one of the reputable automobile valuation books where you can get accurate values for free. You can also use these books to get the cost of any repair parts you know the vehicle needs and subtract that number from the sale price.
Don't be fooled by scammers. If you've determined what your junker is really worth, you won't be as likely to fall for scams, but you need to keep your guard up anyway. There are certain signs that are red flags indicating you may be dealing with a scammer.
You might be contacted by someone offering to purchase your junker sight unseen, if he can write you a personal check. You should not accept personal checks from anybody. If the check is denied at the bank, and the buyer has the car, you are out of luck.
You might get a buyer who loves the vehicle but says he is a little short on cash and wants to make payments. Don't do it. A scammer won't make more than the first payment. Somebody might come by and want to take the auto for a test drive. If you feel comfortable, that's fine, but be sure to make a copy of the buyer's driver's license and insurance card first.
As is is the best way to sell a junker. As is means you don't give any guarantee or warranty regarding the vehicle's condition. This doesn't give you license to lie about the condition though. You must be honest about what you know about the auto.
It's a good idea to ask for a little more than you expect to get when you do this, because buyers like to negotiate. You also want to put everything into a simple contract agreement signed by you and the buyer and outlining the as is condition of the vehicle you are selling.
Do not try to color the truth when it comes to the auto's condition. Every state has a version of the Lemon Law. Lemon Laws were created to protect buyers from unscrupulous sellers claiming the cars they sell are in better shape than they really are. If you sell a vehicle with a safety defect, without informing the buyer, you will probably be held liable for court costs, penalties, and fines if the buyer sues you. You must be absolutely truthful about your vehicle in order to stay on the right side of the law.
Before you advertise your junk auto for sale, you have to find out what it's worth. You can go online and put in the information about your vehicle to get comparable sales in your area. You can also go to one of the reputable automobile valuation books where you can get accurate values for free. You can also use these books to get the cost of any repair parts you know the vehicle needs and subtract that number from the sale price.
Don't be fooled by scammers. If you've determined what your junker is really worth, you won't be as likely to fall for scams, but you need to keep your guard up anyway. There are certain signs that are red flags indicating you may be dealing with a scammer.
You might be contacted by someone offering to purchase your junker sight unseen, if he can write you a personal check. You should not accept personal checks from anybody. If the check is denied at the bank, and the buyer has the car, you are out of luck.
You might get a buyer who loves the vehicle but says he is a little short on cash and wants to make payments. Don't do it. A scammer won't make more than the first payment. Somebody might come by and want to take the auto for a test drive. If you feel comfortable, that's fine, but be sure to make a copy of the buyer's driver's license and insurance card first.
As is is the best way to sell a junker. As is means you don't give any guarantee or warranty regarding the vehicle's condition. This doesn't give you license to lie about the condition though. You must be honest about what you know about the auto.
It's a good idea to ask for a little more than you expect to get when you do this, because buyers like to negotiate. You also want to put everything into a simple contract agreement signed by you and the buyer and outlining the as is condition of the vehicle you are selling.
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