How to sell a car and provide financing for the buyer

Car financing can be an attractive method to attract buyers for the car you sell. Besides this, you can also place advertisements on the local newspaper and the internet to further extend the chances of getting attention from car buyers. In addition to this you should also prepare the car as well as the necessary documents needed to allow the buyer to obtain financing. You can easily do this using the steps below.

1. Prepare the car for the upcoming sale. Inspect the car’s engine and all of its vital parts. It is also advisable to clean the vehicle thoroughly and have it waxed to make its physical appearance more attractive.

2. Prepare the vehicle’s title, and other important documents such as the vehicle’s registration. Check the car’s title for the last time to make sure that it bears your name as the owner.
3. Search for your vehicle’s current value by using the NADA or Kelly Blue Book. This is the most effective tool used by most car dealers and buyers to determine the vehicle’s value more accurately.   Knowing your car’s current value helps you determine the price that you would place on it.

4. Prepare a financing agreement for the car. Make sure to incorporate the vehicle’s information on the agreement such as the Vehicle Identification Number, the car model, and make. You can also create the terms and conditions that will included on the deal such the down payment, the terms of payment, and the agreement on how to deliver the vehicle’s title.
5. When dealing with a potential car buyer, ask for a copy of his identification and other important information such as his address, occupation, and contact details. Make sure that the buyer is o legal age and before allowing him to sign the agreement.

6. Sign the financing agreement as a dealer. Allow the buyer to sign the agreement and indicate the date when it was signed.  Have the document notarized by a notary public. Make sure that the notary public has signed and attached the notary seal. Provide the buyer with the copy of the notarized financing agreement.

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