Six Steps to Selling a Vehicle in California
Cars are a trendy segment on the market; therefore, it should not be difficult for you to sell them.
To issue the form of a bill of sale for a vehicle correctly, follow these simple steps.
1. Prepare the Documents
Collect all the required documents in one folder so that they are safe and there are no problems during the transaction. The buyer needs to prepare several documents to register a car.
You will need:
- A bill of sale for a vehicle
- A list of facts (REG 256 form)
- A certificate of ownership (REG 343 form)
- A driver’s license
- An application for ownership
- A power of attorney for the vehicle (REG 260).
2. Prepare the Vehicle
It is important to the buyer that the car works perfectly and looks good. The better you prepare the vehicle for sale, the more profit you will get from the sale of your car. Wash the dirt off, clean up the interior, and repair minor creases.
3. Pass a Smog Check
If your car is not yet four years old, then you do not need to pass a smog check, but the buyer is obliged to pay a tax fee for passing a smog check. In the opposite case, we advise you to pass it to simplify further work with documents.
4. Get Insurance for Your Vehicle
Be sure to get car insurance for the following requirements:
- $15 000 for the death or injury of a passenger
- $30 000 for the death or injury of two or more passengers
- $5 000 for any material damage.
You will additionally need a power of attorney for the vehicle to sell the car.
5. Find out the Price of Your Vehicle
There is nothing wrong with asking for a fair price for your car. If you sell to an experienced car owner, you will likely face the problem of depreciation of your car from their side, especially if you make such a transaction for the first time. We advise you to conduct a brief market value survey in advance or talk to a specialist to determine the best price.
6. Fill Out the Bill of sale Correctly
After researching the price agreement and negotiating with the buyer, you will need a properly filled bill of sale. Specify this data:
- Transaction date
- Seller’s details
- Buyer’s details
- Transaction amount
- Vehicle Information (Make, model, condition, car ID, serial number, and more)
- Other important details
- Signatures.
We recommend that you consult with a notary about filling out a vehicle bill of sale to make sure that you do not make mistakes. However, notarization of this legal paper is not mandatory.