Here are some thoughts on handling the situation in selling your own car: o Ideally, you shouldn't let anyone test-drive your car unaccompanied.
o But be wary.
You wouldn't get into a stranger's car alone, so why would TOU get into your car alone with a stranger? If you don't have a tall, powerful friend to accompany you, don't go.
Most prospective buyers would want to test-drive a car without the owner along anyway.
o It's perfectly proper to ask a stranger for identification before permitting l test drive.
Check a driver's license and a credit card and require that he eave one of those items with you until he returns.
If he carries no identification or won't cooperate, tell him that you're sorry but you won't allow anyone to test-drive your car without seeing and retaining proper identification.
I Trust your instincts.
If you've got any reservations about a person, politely decline the request for a test drive.
I Some serious buyers will want to have your car checked over by a mechanic-an inspection they will pay for.
That's a reasonable request, and aligning that you've got an excellent prospect.
Again, however, you must be wary.
You need a security deposit important enough to guarantee their return, perhaps a wallet full of important identification papers and credit cards, or their current car and keys, after checking the registration information against their other identification data.
Some prospects may be offended by your caution, but if you ask them :0 put themselves in your place, most will say they'd handle the situation the same way.
Tying Up The Loose Ends In closing the deal, be sure to do these important things: o Get a nonrefundable deposit in return for taking the car off the market.
o Ask the buyer to get a certified check made out to you for the full sales price and to meet you at your bank at a mutually convenient time to sign the title.
Don't give possession of the car until this is done.
o Write out a sales receipt, in duplicate, that says you've sold the car "as is'' for the agreed amount, and include the buyer's name, address, and drivers license number, plus the date, time of day, and both signatures.
o Call your state's department of motor vehicles to learn how to release your liability for parking and/or traffic violations and civil litigation resulting from operation after the date of sale.
Obtain and complete the required form, and mail it promptly.
o Inform your auto insurance agent that you no longer own the car.
He will advise you whether to transfer, suspend, or cancel your coverage.
I haven't tried to touch every base in this sell-it-yourself lesson.
We've focused primarily on the money issues.
If you have questions and need more counsel, you should call the financial institution that has your auto loan, your auto insurance agent, your state's motor vehicle department, or your local auto club for more information.
o But be wary.
You wouldn't get into a stranger's car alone, so why would TOU get into your car alone with a stranger? If you don't have a tall, powerful friend to accompany you, don't go.
Most prospective buyers would want to test-drive a car without the owner along anyway.
o It's perfectly proper to ask a stranger for identification before permitting l test drive.
Check a driver's license and a credit card and require that he eave one of those items with you until he returns.
If he carries no identification or won't cooperate, tell him that you're sorry but you won't allow anyone to test-drive your car without seeing and retaining proper identification.
I Trust your instincts.
If you've got any reservations about a person, politely decline the request for a test drive.
I Some serious buyers will want to have your car checked over by a mechanic-an inspection they will pay for.
That's a reasonable request, and aligning that you've got an excellent prospect.
Again, however, you must be wary.
You need a security deposit important enough to guarantee their return, perhaps a wallet full of important identification papers and credit cards, or their current car and keys, after checking the registration information against their other identification data.
Some prospects may be offended by your caution, but if you ask them :0 put themselves in your place, most will say they'd handle the situation the same way.
Tying Up The Loose Ends In closing the deal, be sure to do these important things: o Get a nonrefundable deposit in return for taking the car off the market.
o Ask the buyer to get a certified check made out to you for the full sales price and to meet you at your bank at a mutually convenient time to sign the title.
Don't give possession of the car until this is done.
o Write out a sales receipt, in duplicate, that says you've sold the car "as is'' for the agreed amount, and include the buyer's name, address, and drivers license number, plus the date, time of day, and both signatures.
o Call your state's department of motor vehicles to learn how to release your liability for parking and/or traffic violations and civil litigation resulting from operation after the date of sale.
Obtain and complete the required form, and mail it promptly.
o Inform your auto insurance agent that you no longer own the car.
He will advise you whether to transfer, suspend, or cancel your coverage.
I haven't tried to touch every base in this sell-it-yourself lesson.
We've focused primarily on the money issues.
If you have questions and need more counsel, you should call the financial institution that has your auto loan, your auto insurance agent, your state's motor vehicle department, or your local auto club for more information.
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