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Thread: (UN) Official Tips On How To Sell Your Car Thread: The Transaction Process

  1. #1
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    Default (Un)Official Tips On How To Sell Your Car Thread: The Transaction Process

    This thread and posts in this thread are not made by anyone with authority - although this thread can help members - always remember this - transactions are of your own risk and 780Tuners takes no responsibility whatsoever with the transactions and will not offer any help in resolving matters

    Official Tips On How To Sell Your Car Thread: The Transaction Process

    I’m sure most of us on here has sold many cars, but on the other hand, many people like me who has never sold a car before would gladly appreciate some tips. I’m hoping those with experience would post the way or style they find it best to sell a car. I’m mainly focusing on the transaction process.

    1) Place where the transaction would take place.
    2) What form of transaction? Check, Cash, others?
    3) What to do to make sure you don’t get scam by others.
    4) What papers do you need to bring to the transaction?
    5) Other tips

    Thanks
    -Henry

    ---Mods…if you want to move it somewhere else then please do so. I’m thought this area would be most appropriate.
    Ruf Boxster with 911 engine project coming up!
    mk4 supra na-T project next year

  2. #2

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    - Always write "Sold AS IS, WHERE IS" on the Bill of Sale.
    - Never accept a personal cheque
    Jeff Baker

  3. #3

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    As a seller:

    Take lots and lots of pictures! It's seriously the number one request of any thread without pictures. And while you're at it, clean your goddamn car before you take the picture! Seriously, it costs a dollar or two to spray it off at the carwash, SO DO IT!

    Be HONEST with potential buyers. If the car needs some work - say so! Not many used cars are perfect, and when I'm looking at a car I want to know EVERYTHING that is not right with it. It doesn't make me less interested, it makes me more confident with the seller being honest.

    Make sure you keep service records! Even if the previous owner didn't keep anything about the car, you can! Start a file on your car and keep receipts for things like garage visits, oil changes/filters, etc. Not only that, but if you buy miscellaneous parts, write down the mileage ON THE RECEIPT that you installed them at. Then offer these records to the potential buyer. Show them the file you have on your car so they know that it has been properly maintained while it's in your care.

    Bring two copies of a bill of sale when you are selling your car. Have both parties fill out BOTH bills of sale. That way if any weirdness happens, you have an original in your possession that has been signed by the buyer instead of a photocopy or even worse, no evidence at all.

    Get your car inspected if you can. If you can show a buyer that you've had the car safety inspected in the past couple months, it might be an incentive for them to buy because they can often use this inspection to help them get insurance more easily.

    As a buyer:
    Test Drives. I've made this mistake in the past. Do you know the average length of a test drive is around 12 minutes? Make sure you take the car out long enough to get a good feeling for its reliability. Some cars have problems that don't present until the car is up to operating temperature or has been driven awhile.

    Don't be afraid to ask for a mechanical inspection to be done. It could save you a lot of money if the car needs many parts replaced, but know that YOU should pay for it. If it is a car you really want but the seller is reluctant, tell them that you will let them keep the inspection report if you decide not to buy the car.

    Make SURE you look under the oil and radiator caps. If you see milky oil/coolant, it usually means that there is a head gasket leak which can get very expensive to fix if you can't do the work yourself. Also pay attention to the exhaust color. If it is blowing excessive white vapour, it could mean that the car is burning coolant in the combustion chamber, which is bad. But, it could just be a little condensation if the car hasn't been driven in awhile, so use your judgement.

    I'm sure that most people can add something to this, but the bottom line is that buyer or seller, protect yourself. Make sure you conduct your business as honestly as possible, and it will reduce your chances of having something go wrong with the transaction.

  4. #4
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    you cannot actually take posession of car if it has a lien on it. the financial institution that lent the money for the individual to acquire the car is the body that actually owns it.

    so if someone has a lien on a car and you want to buy it, the car has to be paid off first (i.e. do not make a bank draft for the entire amount to the current owner). to cover your ass, you and the current owner go to the bank to pay off the remaining balance. you keep the slip where it says a lien no longer exists on the car. then you give the difference of the agreed upon price and the price paid to the financial institution to the owner.

  5. #5
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    Originally posted by the_fornicator
    you cannot actually take posession of car if it has a lien on it. the financial institution that lent the money for the individual to acquire the car is the body that actually owns it.

    so if someone has a lien on a car and you want to buy it, the car has to be paid off first (i.e. do not make a bank draft for the entire amount to the current owner). to cover your ass, you and the current owner go to the bank to pay off the remaining balance. you keep the slip where it says a lien no longer exists on the car. then you give the difference of the agreed upon price and the price paid to the financial institution to the owner.
    To add to this, not everyone is aware if there is any security interest attached to the vehicle when buying. The best way to find out is to do a search on any Personal Property Registry that lists registered creditors that have an interest in the car. Interests are listed in the order of the most recent.

    If you buy the car without checking this, you may not legally have priority to take title. The only way for sure to know that you can get the car free and clear is by:

    1) Knowing the seller has authorization by their creditors to sell
    2) The car is being sold in the ordinary course of the seller's business

    No.1 may be hard to find out, but for sure if No.2 does not apply, do the search.

    Remember, most creditors need to register their interest in order to have priority in the car....legally. Anything the seller settles outside of the registry, that is not registered, and that you are unaware of, you don't have to worry. There are exceptions though when it comes to Liens (any person who provides storage or repair services), Commercial Landlords, and the Government. These are the big three that don't have to register in the PPR to take your shit away.

    Hope this helps.

  6. #6

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    Originally posted by masterv
    To add to this, not everyone is aware if there is any security interest attached to the vehicle when buying. The best way to find out is to do a search on any Personal Property Registry that lists registered creditors that have an interest in the car. Interests are listed in the order of the most recent.

    If you buy the car without checking this, you may not legally have priority to take title. The only way for sure to know that you can get the car free and clear is by:

    1) Knowing the seller has authorization by their creditors to sell
    2) The car is being sold in the ordinary course of the seller's business

    No.1 may be hard to find out, but for sure if No.2 does not apply, do the search.

    Remember, most creditors need to register their interest in order to have priority in the car....legally. Anything the seller settles outside of the registry, that is not registered, and that you are unaware of, you don't have to worry. There are exceptions though when it comes to Liens (any person who provides storage or repair services), Commercial Landlords, and the Government. These are the big three that don't have to register in the PPR to take your shit away.

    Hope this helps.
    This is the most important thing to check when buying a car and everything said in this thread is 100% true. All security interests are listed under the PPR and listed in the order of first in time. Also be sure to check that there are no subordinate clauses between any of the parties.

    Landlords and the government have first dibs on your shit and don't need to be registered at all.

    Make sure nobody has a security interest in a vehicle that you're purchasing or you could be SOL.

  7. #7
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    Edmonton
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    1) How should money be handled?

    2)Where can I get a PPR ( Personal Property Registry ) ?

    3)Whats wrong with personal cheque?

    4)How should the buyer pay?

    5)What do we do once the bills of sale is signed?

    6)Do the owner take the insurance papers away? Then how do you drive the car home?
    Ruf Boxster with 911 engine project coming up!
    mk4 supra na-T project next year

  8. #8

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    Originally posted by chu77
    1) How should money be handled?

    2)Where can I get a PPR ( Personal Property Registry ) ?

    3)Whats wrong with personal cheque?

    4)How should the buyer pay?

    5)What do we do once the bills of sale is signed?

    6)Do the owner take the insurance papers away? Then how do you drive the car home?
    1.) Include the sale price in the Bill of Sale. You can pay in cash but I would suggest a secured bank cheque. You can get these from any teller at any bank.

    2.) There is a registry in Edmonton, not sure where it is. You'll have to look it up in the phone book. Be sure to have the serial number (VIN) as well as the owners name when you go. They'll search both.

    3.) Personal cheques are NOT what you want to accept. They can easily be cancelled before you get a chance to deposit them. Only accept a certified cheque as that assures you the buyer HAS that much money in their account and these cheques cannot be cancelled.

    4.) Certified cheque like i said earlier. The reason this is better than cash is because when you deposit it in your bank account, it shows up in your records. If you use cash, you may not deposit it all at once. It's just further proof as to how much the vehicle was. I guess it's preference but I'd rather a certified cheque.

    5.) If you're the buyer, then get the past registration from the previous owner. This just shows that the car was previously registered.

    6.) As far as I know, you're able to drive the car home with a bill of sale. Once it's home, you can order insurance on the vehicle and you must have insurance before you can register and get a plate.

    Correct me if I'm wrong anybody.

  9. #9
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    1) What, where, how do you get a Certified cheque ? What does it look like?
    Ruf Boxster with 911 engine project coming up!
    mk4 supra na-T project next year

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