What are the steps to sell my wrecked car
Many owners have this common question, “How do I sell my wrecked car?”. Being inexperienced in this field, they don’t know where to start with, whom to approach and how to prepare? You may be surprised to know that the process to sell a wrecked car is a lot easier than most people comprehend. All you need is a bit of research and preparation. Let’s find out the important steps to get the best deal for your wrecked car:
Start with market research
This is your first time learning about the market. Being a first-time owner, you need to know how the market operates. It includes the prices of used cars and types of buyers that are willing to pay for them. You can explore how the car prices vary depending upon the location. Get in touch with companies that provide free quotes for your car. With all this information, it will be easier for you to find the right buyer.
Get your documents ready
Before you even start to negotiate with the buyers, you will have to make sure that you have your title with you. Without the car’s title, you won’t be able to transfer ownership. The buyers are also not interested in taking the risk of putting their cash without proper documentation. In case you have lost your title, you need to contact the local department of the motor vehicle to issue a duplicate one.
Put up an advertisement
Selling your wrecked car online is the best way to reach out to a large number of buyers. Though the traditional way of physically visiting the junkyard shops has its own advantages, considering the busy schedule nowadays, online selling is far more effective and convenient. To put up the ad, you will have to first set up your profile. Explore websites that connect buyers with sellers. Put all your information including the car’s description and your expected amount. The interested buyers will contact you with their offers. The other option is to contact companies that buy used cars online. These companies provide you with a free valuation for your car. You need to mention the make of your car, mileage, model, etc and the experts from the company will revert in some time.
Shortlist genuine buyers
Once you put your ad online, you will be contacted by potential buyers with their offers. The key is not to rush into the deal. Once you receive the offers, be patient and carefully evaluate the buyers. This will protect you from falling into the trap of scammers who may try to dupe you with fake offers.
Accept cash payment
Close the deal with cash payment only. It’s the safest option. Also, you won’t have to wait for check clearance. Online payment is also a good option considering you have carefully assessed the credibility of the buyer.
Get your registration cancelled
Once you close the deal, contact the local department of the motor vehicle and ask them to cancel your registration. This way, you won’t be liable for anything that happens to your car in future. Also, ask your insurance company to stop your premiums.