Do you have an old car taking up space in your garage or driveway? The vehicle has been with you through thick and thin, and you are not sure if you should let it go.
As much as you wish to hold on to it longer, it is time to sell it, so you can create more space for your newest model vehicle, or to make quick cash to help you settle part of your bills.
Selling a junk car is also good for the environment, not to mention that it helps you save cash. Your old car is a good source of recyclable material, and by junking it, you create employment opportunities.
The reasons for selling your junk car are limitless, but you must be careful to avoid making the common mistakes people make when selling a junk car.
Failure to Sign a Release of Liability
When preparing to sell your junk car, you should deal with the DMV to protect yourself from liability. Each state has different laws, but in most cases, the car title comes with a tear-off portion which you should fill out and send to the DMV for liability release.
While the process might seem daunting and unnecessary, you will save yourself from possible future troubles.
Accepting Unreasonably Low Offer
Totaled cars are not entirely useless. Therefore, you should not settle for a lesser amount than your estimated value of the vehicle. The junk car buyer should give you a quote for your car before embarking on the sale process. It is up to you to take or decline it.
In some cases, the buyer may offer a decent amount, only for them to change their mind later, claiming that the vehicle is worthless at the last minute. In a scenario like this, you should walk away and look for a better buyer regardless of whether the tow truck has arrived or not.
Signing the Title Before Receiving Payment
The worst mistake you could make is signing and handing over the car title to the junk buyer before receiving full payment. Once you sign the title, it means that you cease becoming the rightful owner of the car.
The buyer may decide not to pay you, or if they do, they may pay you lesser than the initial agreement, and there is nothing you can do about it. Avoid these losses by insisting that they should pay first, before you sign the title, or before they take the junk car away.
Paying for the Towing Services
Take your time to look for the best buyer in the market. Just because your car is totaled does not mean that you should pay to get it out of your space.
Towing services should be free. If the service provider asks you to pay for towing, they should be willing to pay twice the amount for the car.
If your vehicle is still operational, you can drive it to the junkyard and get a ride back home. Nonetheless, if the car can’t run, you should ask for complementary tow.
Make sure you ask as many questions as possible regarding towing services before settling for a particular tower. Let them provide a firm quote, so you can compare prices with competitors to determine which is more cost efficient.
Forgetting to Remove the Plates
Removing the plates might be the last thing on your mind, but it is amongst the most important steps when selling any car. When you sell your vehicle, the buyer takes the title. However, the title does not entail the license plates.
Failure to remove the plates when handing over the car ties you to the vehicle, and you could be held responsible when involved in a crash. You are left open for liability which could get you in serious trouble in the future.
Accepting the First Offer
As badly as you want to sell your junk car, maybe to create space or get fast cash, it is highly recommendable that you invest some time in comparing different quotes before making a final decision.
This ensures that you get the best value for your car. It saves you from future regrets once you realize that you accepted a bad deal.
Reach out to multiple junk car buyers, get quotes, and compare them based on other factors, such as whether they offer free towing services. The process might consume a lot of your time, but it is worthwhile.
Trusting Buyers Without Performing Background Research
The market is filled with scammers. If you don’t do your due diligence before trusting a buyer, you can easily fall victim. Do in-depth research on potential buyers to establish their reputation.
Do not let attractive quotes blind you. You need someone you can trust around your property, and there is no easier way to establish this than by reading online reviews or asking for recommendations from your family and friends.
Are You Ready to Sell Your Junk Car?
Now that you understand the mistakes people make when selling a junk car, look for the best buyer near you.
All Car Buys is your go-to junk car buyer, and you can trust that we will meet your expectations. Contact us today for inquiries and to get a Cash for Junk car quote.