Are you in the market for selling your beloved wheels and shop for something a little more stylish? Or are you merely getting rid of the white elephant standing in your garage? Whichever reason you have for selling, make sure that you have the following documentation on hand if you are going to sell your car privately.
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Be sure to have a copy of your identity document or driver’s license ready to provide to the buyer. Also, ensure that you ask for a copy of his or her ID as well. Alternatively, you can take a photo of his license, ID, or passport on your smartphone.
The Proof Of Ownership Certificate
You’ll need to have this paperwork in hand if the car is paid up. This is typically accompanied by a letter from your bank stating the car is your property. If you do not have these documents, for some reason, you can contact the applicable financial institution to get them.
A Settlement Letter
You will only need this documentation if there are still monies owed on the car. The settlement letter states precisely how much is still owed on the car. Therefore, the buyer can see for himself.
A Notification Of The Change Of Ownership
You don’t want to be held answerable for any traffic fines that the new car owner may incur; therefore,it is necessary to complete a notification of change of ownership (NCO) form, which can be obtained at any traffic department or downloaded from the web. Both the current and new owner’s signatures must be present on the form, and the buyer will have a copy as well. The relevant department must also receive a copy to transfer the vehicle to the new owner’s name. If you are wondering about the best place to sell my car, you can also check out the various reputable websites that buy and sell cars.
Vehicle Registration Certificate
For the new owner to be able to register the car, he must have the original copy of the vehicle registration certificate. You must also keep a copy for deregistration of the vehicle you are selling and another copy in your file for in case.
Proof Of Sale
Once the car is sold, write a receipt recording the following details:
- The date
- Amount paid
- Make and model of the vehicle
- Registration number
- Names and addresses/contact detail of the buyer and seller
Make double copies, one for the buyer and one for yourself. This receipt is your proof of sale for both your protection and the buyer.
The buyer will request a present RWC within twenty-one days of the sale which he’ll need for registration purposes. If the RWC has expired, you’ll need to get a new one for the buyer.
Service History And The Receipts
This is highly valuable. Some people will not buy a used vehicle if it hasn’t got a full service history. Make sure you hand over all paperwork relating to the vehicle’s warranty, if there still is one.