Need advice on how to do a personal sale

[wouwou]

Hi all,

I am about to sell my car (Mazda 3 sports) privately, just wondering if anyone can provide any tips on dos and don'ts on how to handle private sales, such as whether or not I should require any interested buyers to sign some paperwork to state that he/she will be responsible for any accidents during the test drive, how to handle the purchase (case, certified cheque, bank draft?).

Some things I am gonna do:

get the car detailed so it looks clean,
gather all the service records/receipts,
post on CL, BS and local forums.

I haven't done this before and any help is greatly appreciated!

edit: mod please move the thread if it is not appropriate in this area, thanks!

[Jgresch]

Originally Posted by wouwou

Hi all,

I am about to sell my car (Mazda 3 sports) privately, just wondering if anyone can provide any tips on dos and don'ts on how to handle private sales, such as whether or not I should require any interested buyers to sign some paperwork to state that he/she will be responsible for any accidents during the test drive, how to handle the purchase (case, certified cheque, bank draft?).



I haven't done this before and any help is greatly appreciated!

edit: mod please move the thread if it is not appropriate in this area, thanks!

Provide Dec/Lien search from ICBC if you want. They will probably ask.

Build as much value as you can in your car during the sale. Ask yourself why should he buy yours and not the one that is 500$ cheaper. Continously answer this question through the sale.

If it makes you more confortable, get them to sign something regarding responsibilty during the drive. Maybe even ask for a drivers licence to confirm their information.

I wouldn't accept a Cheque... Most car dealerships don't even take cheques anymore lol. Either take cash, or go to the bank with him or her, or take a bank draft.

Look online for a Bill of Sale template, it's very basic to make it binding.

Names, adresses, date, vin of car, current mileage (exact) siganture.

Also include something like the car is now the responsibility of the new owner. You legally can't sell the car "as-is" unless he towes it away I believe, but you should use a line like this so he doesn't come asking you for cash if his a/c stops working or something.

DISCLOSE EVERYTHING!!!!!!!!!!!!!!!!!!!!!!!

If there is anything that needs to be said, say it. Accidents, decs etc. If you mis inform him about something, he is then able to come after you, mind you it is hard to place blame on you for somethign unless it is written down or recorded. For example your craigslist ad might say Timing belt replaced recently! but upon further inspection it was never done, you're on the hook for it because he was recorded proof.

[97ITR]

I wouldn't want to take a large amount of cash, for fear it might be counterfeit. I've always just taken bank drafts. The one time I was paid in cash, I went to my bank with the buyer to have it counted and verified before I signed over the car.

[Jgresch]

Originally Posted by 97ITR

I wouldn't want to take a large amount of cash, for fear it might be counterfeit. I've always just taken bank drafts. The one time I was paid in cash, I went to my bank with the buyer to have it counted and verified before I signed over the car.

worst comes to worst he could just use the counterfeit money small bits at a time



seriously though I guess cash isn't a great idea unless you have it verified.

[wouwou]

the bill of sale never even crossed my mine, thanks for the reminder!

and the disclaimer is also very helpful, thanks a lot!

a question regarding payments, is a bank draft 100% secure? because for as far as I understand, BD is a statement coming from the bank that confirms the account is in good standing for the amount on the draft, and the bank will be responsible for the amount.

what about certified cheque, isn't that similar to a bank draft?

[fliptuner]

Go to Autoplan with the buyer after the transaction is complete and make sure it gets reg'd into his name. Once it's out of your name, there's no worrying that he's going to curb (resell) it or that he's going to get into an accident while it's still reg'd in your name.

[wouwou]

Originally Posted by Jgresch

worst comes to worst he could just use the counterfeit money small bits at a time



seriously though I guess cash isn't a great idea unless you have it verified.

I am pretty sure I won't go with cash, but waving a wad of bills can get me famous on Rev though.. I mean $14 got that much, a few thousand should get me laid

hmm hard choice

[-EuroRSN-]

If the buyer is a lil hesitant for any reason you can always offer to claim the car for less to ICBC so the buyer pays less taxes. That the buyer saves more money on taxes while he still pays you the full amount.

Plus put the asking price a bit higher so there is room for negotiation.