When selling a junk car, there are specific steps you can take to ensure a smooth transaction. Most buyers are generally reputable and will buy your junk car for the price it’s worth. Still, take note of the following to protect yourself and your asset before proceeding with the transaction:
Sign a Release of Liability
Your car title has a tear-off portion that you can take, fill out, and send to your state’s Department of Motor Vehicles (DMV). Doing this when you’re going to sell your car to a junkyard absolves you of any liability and protects you if ever the vehicle gets re-sold in the future. Most, but not all, states offer this, so you might want to check that first.
Ensure the Buyer Honors the Agreed Quote
Part of the transaction is an agreement of the price quote, alongside any relevant information about your car that the buyer should know. If the tow truck arrives and says that your vehicle isn’t worth the agreed price, don’t be pressured into agreeing to it. Walk away and keep your car when the buyer does not honor the original quote. You’ll find a better buyer in your next transaction.
Don’t Sign Over Your Title Without Payment in Hand
Do not sign over your title unless you have secured the payment. Beware of any excuses that the car tower gives that involve not handing over your payment before taking your vehicle away. Once the tow truck leaves with your car, you have no guarantee you’ll be paid. In addition, even if they just ask you to sign the title over but leave your vehicle, don’t agree with it either.
Do Not Accept Vouchers in Place of Cash
Always stick to cash payment and nothing else. The buyer might offer you vouchers and other “free” stuff that cut a part of the agreed payment. If they are good enough for you, you can take them, but take caution against time-limited vouchers and other offers. If the buyer offers you cash and vouchers, just consider the cash when comparing offers for your car.
Skip the First Bid
You should wait for at least two bids on your car before making a decision: one from a national company and another from a local company. Don’t take the first bid instantly and wait for better offers. But if you’re in a hurry or are being charged for your car’s storage in a repair shop, you can take the first bid if you think it’s good enough.
Remove Your Personal Items
Check your car’s glove compartment, seat pockets, trunk, under rugs, under the seats, and center console, and remove all of your personal items. You might be surprised at what you can find and might even see some loose change. Tow truck drivers usually go through junk cars finding anything of value. So, they’ll likely discover your personal belongings, too. Before they take your car, ensure that you no longer own anything in it.
Selling your car and getting the correct price quote for it should be easy. There are only some minor things to consider to ensure that the transaction goes smoothly. The list above is just six of the most notable mistakes you should avoid, especially the part about signing over your title without an assured payment. Overall, practice caution and mindfulness when transacting any item, not only cars.
At Best Price Cash for Cars, we buy junk, broken, damaged, and perfectly functioning cars on the spot with cash! We guarantee a fast, simple, and secure transaction with the best prices. If you’re looking to exchange your junk car for $500 cash, get in touch with us! Call us at 888-545-1599 and get free same-day towing 24/7.