Gather Necessary Documents:
Before listing your car for sale, ensure you have all the essential documents ready. These typically include:
Vehicle Title: Make sure you have the original title to prove ownership. If there's an existing lien on the car, you'll need a lien release from the lender.
Bill of Sale: While not required by the state, a bill of sale is beneficial for both parties to document the sale transaction.
Vehicle History Report: Providing a vehicle history report, such as a CarFax or AutoCheck report, can boost buyer confidence.
Maintenance and Repair Records: Having records of regular maintenance and repairs can demonstrate the car's well-maintained condition.
Determine the Vehicle's Value:
Research the current market value of your car using online resources, such as Kelley Blue Book or NADA guides. Consider factors like the car's make, model, year, mileage, condition, and any additional features. This will help you set a fair and competitive selling price.
Prepare Your Car:
Before listing your car for sale, make sure it's in good condition. Wash and detail the vehicle thoroughly, address any mechanical issues, and ensure all essential functions (lights, brakes, tires, etc.) are in proper working order.
Advertise Your Car:
Choose effective platforms to advertise your car for sale. Options include online marketplaces like Craigslist, Facebook Marketplace, Autotrader, and local classifieds. Include clear and detailed information about the car, high-quality photos, and your contact details.
Handle Test Drives:
When potential buyers express interest, schedule test drives in a safe and public location. Always accompany the buyer during the test drive and verify their driver's license before allowing them to drive the vehicle.
Negotiate and Finalize the Sale:
Once you find a willing buyer, negotiate the final selling price. Be prepared for some bargaining, and ensure you are both satisfied with the agreed-upon price. Once an agreement is reached, finalize the sale by:
Completing a bill of sale: This document should include the buyer's and seller's names, the vehicle's details, the agreed-upon price, and the date of sale. Both parties should sign it.
Transferring the title: Complete the back of the title with the buyer's information and odometer reading. Sign the title as the seller, and provide it to the buyer.
Obtaining payment: Accept a secure form of payment, such as cash or a cashier's check. Avoid personal checks or money orders, as they can be subject to fraud.
Notify the Missouri Department of Revenue:
As the seller, it is essential to notify the Missouri Department of Revenue within 30 days of the sale. Complete and submit a Notice of Sale (Form 5049) to protect yourself from any future liabilities related to the vehicle.
Cancel the Registration and License Plates:
Remove the license plates from the vehicle and cancel the registration at your local Missouri Department of Revenue office or online.