Tips for Selling Your Vehicle Privately
When you sell your car privately make sure the advertisement is accurate, when it comes to its condition. Its best not say it has never been in an accident unless you know for sure. Do a CarFax or another similar car history report to find out if you are unsure. What it comes down to is don’t make statements about the car that you can back up, unless you bought the car new.
You need to be aware that in most states, sales between individuals (i.e., non-dealers) are presumed to be”as-is.” As-is means the vehicle is being sold with all faults and the seller is not liable for any future repairs and is not promising to make any.
You should disclose any material facts about the vehicle to the buyer. In some states the seller can be held liable in court for selling a defective vehicle. You didn’t actually lie to the buyer, you just failed to tell them that the vehicle had been wrecked or has a branded title. Saying they never asked is not an excuse and will not hold up in court.
When you sell your car its your responsibility to release liability in the vehicle. Issues of liability can be a big problem for you as a seller. If the buyer takes delivery of your car and doesn’t transfer the title properly you remain liable. What if they go and get in an accident and abandon the car? Do you want to get a phone call from a police investigator? You would be inplicated in a hit and run accident? Another scenario is they get a whole mess of parking tickets that you are going to have to pay out of your own pocket.
- The safest way to deal with a potential buyer is in person during daylight hours.
- Proceed with caution if the buyer claims he or she cannot talk on the phone.
- Be cautious if the buyer only wants to communicate via text messaging or email.
- Stay away from buyers who are currently out of the country or claim to live overseas.
You should avoid complicated payment schemes.
- Proceed with caution when payment involves prepaid debit or gift cards.
- You are the seller, you control the sale. Be clear which is your preferred method of receiving payment. Be suspicious of a payment process that involves too many steps.
- Stay clear of buyers who contact you by phone or by email, are out of the area and agree to pay full price via PayPal then want the car shipped or picked up by a truck right away. These are usually credit card scams with stolen credit cards. Within a few weeks you will be getting a phone call from the credit card company demanding you pay back the money
- Another type of fraudulent transaction consists of a buyer sending a cashiers check by mail for more than the purchase price of the vehicle and then asking you to send the remaining balance of the amount via wire transfer, gift card or another guaranteed form of payment. The cashiers check is most likely counterfeit and the bank will hold you liable for losses incurred.
- Do not deliver the car until the buyers check has cleared your bank or you have received payment in full.
- You should always verify the authenticity of any cashier’s or certified check with the issuing bank.
- look up the issuing bank’s phone number yourself if you plan to call. Do not rely on the phone number printed on the check. The bank can verify the routing number, account number and name on the account. The issuing bank can even verify if there are funds available to cover the full amount.
Internet phishing scams.
Be wary of emails or text messages that include links to familiar websites that require your username and password to login. The sender will use these links to send you to a fake version of websites you use on a daily basis. The purpose of this is to obtain your login credentials in order to use your account to post fraudulent listings or even worse use your profile information to access your private financial information or make purchases. If you receive an email that includes links, you should take the following precautions to avoid falling victim to a phishing scam:
- Check the “from” address to verify that it is legitimate.
- Hover over the links, but don’t click on them. When hovering over a link you should see a small pop-up message that displays the website address.
- If this looks suspicious, do not click the link.
Do you want to sell your car fast? Check out this helpful article to sell your car like a pro.
If you would like to avoid all the potential risks of selling your car privately and would prefer to sell your car or truck to a licensed and bonded California car dealer you can trust then give us a call today at (323) 505-2110 or email us for a free quote on our easy to use Get a Cash Quote form.