You own a car, but you badly need money at the moment. Now, you’re thinking of selling your vehicle to have the cash that you need.
Sure, when you’re in such a cash-strapped situation, selling your car isn’t a bad option. However, there are procedures that you need to know before putting your car up for sale. In Arizona, for instance, some regulations serve to protect the seller and the buyer involved in the car sale process.
Selling a car in Arizona requires you to know and follow these regulations and procedures to have a smooth and unproblematic car sale. Read this guide on how to sell a car in Arizona.
Steps to Sell a Car in Arizona
Selling your car can be a profitable enterprise. Here are the steps that you need to keep in mind to help you walk through Arizona’s car selling process.
Gather the papers. Before you list your vehicle for sale, it’s a must that you collect the necessary documents, such as the car title and vehicle history report. You should also contact the lender if you still owe money on your car’s loan or check the Arizona Motor Vehicle Department concerning the documents necessary for the transfer of ownership.
Set an asking price. You should assess the car’s value so you can set a price that can easily attract buyers. Compare similar vehicles that are selling to make an excellent estimate of your car’s value.
Do a makeover. Buyers want to purchase a car that’s in good condition and one that looks like something you want to show off to people. So, wash and vacuum the vehicle to make it look more attractive. You can also fix scratches and dents on it.
Excellent photos for the ads. One way to attract a potential buyer to purchase your car is via ads that come with great pictures of the vehicle. Provide it with good lighting and park the car in an attractive location when taking photos of it for the ads. Also, don’t forget to take pictures of the interior.
Allow potential buyers to test-drive the car. If there’s a buyer who’s interested in your car, you should meet with the person in a safe place and let him/her test-drive your car. Then, talk about the specifics of the automobile you’re selling.
Seal the deal. If the person wants to buy the car after the test drive, you can now proceed with the closing of the deal. Discuss the payment method with the buyer – he/she can pay it either with a check or in cash. Then, sign the title and file a release of liability to complete the sale.
Understanding Car Title Transfers
Transferring a car title can be complicated when there’s unverifiable ownership or when multiple sellers are involved. In such cases, there may emerge potential issues in the transfer of car title.
For instance, if a car seller is selling a vehicle on behalf of its real owner, the former should present proof of property rights for the owner’s said vehicle. Acceptable proof of property rights can be in the form of power of attorney for the car owner or court order.
If there are multiple owners on a car title, it’s a requirement for each owner to sign the tile and have it notarized.
A common question by first-time sellers: Can I sell my car without a title in Arizona?
The answer is no. The Arizona Motor Vehicle Department requires a title when selling a car. If your title is damaged or lost, you can obtain a duplicate copy from the MVD. A car title is a must to complete the transfer of title to the vehicle’s new owner.
Can I Sell My Car with a Title Loan?
Selling a vehicle with a title loan is a complicated process. It’s because a lien is placed on the title, which means your lender has the right to possess the car if you can’t pay the loan.
But, yes, you can proceed with the car sale with a title loan still placed on the car you’re selling. If you have a title loan in Arizona, you need to inform potential buyers that you’re currently paying off the loan, and you’ll soon be released from the lien.
You need to pay the title loan in full before transferring the vehicle title to the new car owner. While it’s typically easy to make extra money in Arizona by selling your car, the process of sale can be a bit more difficult when there’s a title loan on it.
Now you know how to sell a car in Arizona. If you’re planning to put your vehicle up for sale, you should know the procedures and regulations that come with it. Reading this blog article can be useful in this endeavor.