How to Sell a Car With a Salvage Title
Contrary to some beliefs, cars and truck with salvage titles do attract a significant number of buyers. Selling a car with a salvage title is rather straightforward. There are a few things to keep in mind, however. With some basic insight, selling your salvage car should be very easy. Read more to go through the proper channels and properly sell your vehicle.
Other People Are Reading
Instructions
-
-
1
Check the title for liens. A salvaged car is one that has been officially put out of commission by an insurer or law enforcement agency. Contact your state's department of motor vehicles (DMV). Provide a representative with the car's Vehicle Identification Number (VIN) and have her do a lien search. If the car had a loan on it at the time it was wrecked or deemed salvaged, the lien was likely paid off by an insurance company. Have the search done just to be safe.
-
2
Price the car correctly. Research the value of your car as if it had a clean title using the "Kelley Blue Book" (see Resources). Generally speaking, you will get between 20 percent and 70 percent of clean title value for a salvaged car. Depending on the condition and what may need to be done to get it on the road, price it around 65 percent.
-
-
3
Advertise your car and negotiate a sale. Advertise your car anywhere used cars, junked vehicles and salvage cars are listed for sale. Classified sections in newspapers and auto magazines are good places to start. Interested buyers will likely make extremely low offers at first. Have a price in mind, and negotiate until you get as close your asking price as possible.
-
1
Tips & Warnings
Always let the buyer make an offer before you start negotiating. It's very difficult to go up in price once you've already revealed an asking price. If you do have to speak first, start higher than your asking price.
Never sell a car you don't have a clear title to. Doing so could result in criminal prosecution.
