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Boy, I put my car on craig's list today at 4pm and was hoping to get a nibble or two. So far I've gotten 9 phone calls and 3 emails about the car.
Used cars are selling like hot cakes in this economy. People want cheap cars that just run. Here in Raleigh the choices are limited. There's a big supply of them in FL selling for $1000's less than what they sell here. I'm really thinking of going to FL and driving a few up a month and reselling.
Yes, you both need to sign in front of a notary, exactly as your names read on the title (DMV very picky about this). I'm pretty sure that the buyer's signature does not have to be notarized...check the title for verification....so you and your wife could take care of the signatures separate from the buyer if necessary. As for the collision damage question, the law requires you to reveal that to the seller and the only ramification for that is how it affects the value/sales price of the car.
I have not idea why we decided to put both out names on the Title!
Yes, you both need to sign in front of a notary, exactly as your names read on the title (DMV very picky about this). I'm pretty sure that the buyer's signature does not have to be notarized...check the title for verification....so you and your wife could take care of the signatures separate from the buyer if necessary. As for the collision damage question, the law requires you to reveal that to the seller and the only ramification for that is how it affects the value/sales price of the car.
Correct, only the sellers need to list their names under the 'I certify' statement and then be present when notarized. That is what the DMV told me (by phone, I couldn't decipher from the Title form what they wanted) and what I did. It makes sense since you've already named the buyer name and address on the top line and the buyer could even be out of state. But when I went to a notary, I still had to argue the point with them! Also, do not sign before you get to the notary, and don't cross anything out, or the DMV will reject it.
Thanks for the help everyone. Now that I have a better handle on the detials I am looking forward to selling my car. The good news is I have had an incredible response to my car lisitng on craig's list. On the flip side I have now experienced to "no shows" who shceduled a time to look at the car. I have another interested buyer coming to look at the car tomorrow (I meet them at a public location, not my house). I'm hoping the third time will be the charm and I can get this car sold!
I'm hoping the third time will be the charm and I can get this car sold!
Thanks for the help everyone. I have successfully sold my car! It was a little frustrating with "no shows" but in the end I found a good buyer throught craig's list. I appreciate all the help on how to handle to Title issue. I loved that old car, but I'm glad it is no longer sitting in front of my house.
Revisited this thread to refresh my memory on the Title Process. Glad it is around for a resource. Thanks again for the info!
In your last selling process, did you get an estimate from Carmax/Auction Direct to see how low they would offer you compared to the price you were listing the vehicle? Selling privately is a pain if you don't let them come to your house - due to no shows, disruption from schedule, etc. [I had to do that last year on the older car I sold because the dealers were a few thousand dollars off - if it were $500 off my price, then I would have just sold it to them to avoid aggravation.]
Unfortunately the cars I've sold recently were very old entry level cars with between 175K and 200K miles going for under $1,000. In the past places like Carmax have expressed zero interest in those kinds of cars.
On a bright note, I actually sold my second car today via craig's list. Got within $50 of asking price too, cash. A little sad to see the car go, but ready to move on too.
Only take one from the teller at the buyer's bank.
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