Buying and Selling a Car to a Private party...tips?

We have sold several cars privately. I never deal with the people or meet anyone alone. Typically my husband and I meet the prospective buyer at a public location. A mall is a great idea because a test drive can consistent of my husband riding shotgun or in the backseat while the prospective buyer gives the car a spin. We both make it known we have cell phones on us (usually we both have them in hand) and we also mention we are expected at dinner at mom's in a short while. The dinner ploy also gives the prospective buyer time to think if necessary. They know upfront you aren't in a rush to sell since you have other plans and can wait on them to think.

We never involve a mechanic unless the prospective buyer brings one. So far no one has gone that route.

Definitely know your values. KBB as Jim mentioned is a good source. BUT despite what KBB thinks your car is worth, the market/demand will really drive the interest and hence the price. We have had two cream puff cars which wouldn't freaking sell because no one was interested in them. That sucked big time and we took a hit on both cars.

If you aren't getting a lot of interest in your vehicle postings, take a look at your competition and their prices. You may be priced a little high OR your vehicle might be in worse condition/uglier color/fewer options/etc OR you may be falling outside of a price search bracket. In other words if someone does a search for 2k - 5k and yours is 5.5k, then your vehicle listing won't come up. I trust that part makes sense.

If cash is being used to purchase the vehicle, then we meet in the lobby of a bank. Any public location would do but banks seems sensible because they are used to seeing folks with large amounts of cash. Also there is a security person available. Otherwise, we ask for a cashier's check and exchange that in a public place.

We always print and bring two copies of a bill of sale. We have the forms filled out with the necessary information beforehand (VIN, mileage, make, model, color, etc.) and we have both copies signed. We keep one original and the buyer keeps the other. It's a good idea to have the contact information of the buyer (phone number and address). Once we had a ticket mailed to us beacuse the buyer didn't transfer the title. It was a good thing we had his phone number because he had wracked up a ton of tickets. Our state also allows you to mail in a form to the state indicating you no longer own a vehicle. That provides you protection when someone does what that guy did. See if your state has a similar program.

I don't know how your state works but we also take the vehicle title transfer paperwork. The buyer keeps that for transferring the title into his or her name. Our state DMV website also has other helpful tips about buying/selling a used vehicle. Good luck. It's not that bad and most people are honest and normal.

For selling your cars, some car dealerships will buy your car even if you don't buy one from them. As for selling to John Doe private citizen, ask for cash only, or meet at their bank so that you can get a cash from their bank.

Test drives. Write down their name, address, license number, DOB, current cell phone #, copy of auto insurance. Ride along with them.

When you do sell your vehicle, there are 3 - 4 things you will need to do.
1. Sign the back of the car title.
2. Remove your license plates from the car before the person takes possession. One option for this is to meet at the DMV so that they can get new plates when you take your old.
3. Remove any county property/ parking pass stickers from the windows. Things that you paid for and/or need for a new car.
4. Sign the back of your current vehicle registration and mail it to your DMV (unless you go in person) to let them know that you sold the car to John Doe on a certain date.

As for buying a car from John Doe
You can ask to take it to a mechanic. Arrange to have them take the car up there for you or meet you there.

A woman from my town was trying to sell a vehicle through Craigs list. She had someone call and want to take it for a test drive. He showed up, she went with him, was found dead in MO, I think it was MO, anyway. She had moved away from here but her family and friends from her whole life were here. It hit our town so very hard.

Because of this I would never ever try and sell any items that cannot be mailed from a P O box.

I think if you r vehicles are worth something more than trade in value I would surely try to make sure that at least 2 adults are with the car at all times. One is the back seat and one in the front. I would probably make sure my phone was in my hand in my pocket with 9-1-1 ready to dial.

There is nothing in this world worth taking a risk like getting in a car with a person, even one you know. They could be that serial killer someone isn't telling the mass public about so they are not scared.

Take the vehicles to the dealer and see if you can work better deals on the newer vehicles you'll be buying.

I would go to carmax and have their people look at your car, they will give you a break down of the condition and a price they will buy it from you - assume they will double the price to sell on their lot. I have done this then turned around and doubled the value they gave me and reduced by 25% to find a decent selling price (2500*2= 5000/25%= 3750 selling price). I also found the price was comperable to what someone would pay based on Kelly Blue Book Value. I suggest a male goes on the test drive for safety personally and you simply ask to have your mechanic take a look at it before purchase. Arrange with your mechanic to have the car taken in - they will probably go with or follow and explain the car is not to be released to you but that they are responsible for payment. Last time I had one of those done it was around 50 and the car turned out to be a lemon.

First and foremost, know what your car is worth. KBB.com is a great site to find this out on.
And be realistic, do you want to sell it or make a ton of money? You stated your goal is to be debt free, don't 'give it away', but don't be so greedy you can't sell it.
Craigslist is a great tool for selling cars. I have sold 3 on their and bought 2 over the past few years. Use common sense when meeting a total stranger and no body rides for free. NO test drives unless they have the cash in hand. Good luck.

When you buy a car from a private party, ask if they have photo identification and the title to the car in their own name. We shopped for a used car from private buyers in and a lot of them did NOT have this when we called and asked. We got a lot of "I'm selling it for my sister who is away at college" kind of comment. Um, no, probably stolen.

When selling a car to a private party, cash only, and INSIST that you will make the transacation at a department of motor vehicles where you will go in together and witness the transfer of title to the vehicle. Do NOT trust the buyer of your used car will get this taken care of after the sale. I sold my college car, moved across the country and back, only to get a call 10 years later on my answering machine from the POLICE threatening a warrant for my arrest for pumping gas and driving off! I had to then go down to the DMV, and have them pull the records for my vehicle. Turns out the buyer NEVER changed the title and they were falsely signing my name for car tabs. Then the burden was on me to file an official document that I sold the car to a private party to clear my name with the police. I couldn't believe the DMV didn't even check the identification for 10 years when the people came in to buy the tabs! There was my typed name on the form, and there was someone else's scribbled signature. Learned my lesson on that one.

I sold my trailblazer last year to a private party. My hubby was otherwise occupied, so I had my dad go with me to meet the person. We met at a McDonalds (public place). We went with the guy for the test drive (dad sat in front, I sat in the back). He drove it and decided he wanted it, after having a mechanic check it out. He actually gave me a $150 deposit - I told him that if anything came back from the mechanic, he could have 1/2 the deposit back (my time and gas to take the car to a mechanic was worth that) and he agreed. He was fine with me taking it to my dealership to get checked out. I gave him the write up from the dealership. I then had him meet me at my credit union with cash. He handed the cash to the bank (so that if it was counterfeit - I knew not to hand the title over). Once I verified the money was real, I signed the title over to him. I also sent him an email that the car was being sold as is and he responded that he agreed - paper trail! :) I took my car to CarMax and they offered my $2k - I sold it for $7k. I used the Blue Book value and advertised higher than what I wanted, so that when we negotiated, I got what I really wanted and not lower than Blue Book.

I've never bought a car from a private party, so I don't have any tips on that.

Good Luck!