The hazards of selling your car yourself
You love your car, but you are ready to move on to something better or newer, so you decide to sell it. If you hire someone to do it for you, you will have to pay a commission. Many people do not want to do this; instead, they choose to sell it themselves.
These are all the things that can go wrong if you do this without professional help:
- Your car could be stolen, or you could leave yourself open to be attacked. If someone is interested in your car, he will expect to take it for a test drive. Not all people have good intentions, and you might find yourself in a dangerous situation if the person is trying to take your car... for free!
- You could be given a false check. It is not uncommon to hear stories about people who were scammed by fake checks. By the time the bank has notified you of insufficient funds (NSF) and you report it to the police, your car and the scammer are long gone. It can be almost impossible for your car to be traced – it could be on a cargo ship headed overseas or it could be dismantled and sold for parts.
- You can be held responsible for something that was not your fault. Doing the paperwork correctly is really important. If you do not have documents to prove that you sold your car and to whom you sold it, and you do not mention the odometer reading, you could be blamed for anything that happens to the car. If the new owner has an accident, damages for that accident, including injury costs, could be assigned to your insurance company making you liable for all costs and/or judgments.