Insurance Navy: How To Sell A Car In Texas
February 10, 2023 at 22:39
Houston, TX based Insurance Navy Brokers is reaching out to help car owners learn how to sell a car in the state of Texas. The firm explains that this is not as straightforward a process as exchanging a vehicle for cash, and sellers need to be aware of (and meet) certain requirements to ensure they are compliant with the law.
The article begins by noting that Texas has a thriving used car market, with nearly all of its 14 million registered vehicles belonging to private owners. As these owners decide they need to get extra cash fast, upgrade to a new vehicle or simply have no more need for a specific vehicle, they typically come to the conclusion that they have to sell it to someone else. Notably, this is largely due to the fact that selling the car can be more lucrative than trading it in. However, sellers should make an effort to learn how they can make sure this transaction is fully above board.
The firm states, “Selling your car in Texas can be a rewarding experience. But it’s also one that can be a bit complicated for first-time sellers. Texas has certain requirements, rules, and regulations that must be followed when selling a car to avoid unwanted surprises, legal issues and tax penalties.” As such, the article is intended to act as a guide, covering the full scope of challenges a seller may come across, and it goes so far as to include tips on making the vehicle more attractive to potential buyers.
The advice from Insurance Navy first deals with the vehicle’s initial preparations. The firm recommends that it be put through a full-service wash (as well as detailing, if there is room in the seller’s budget). Once the car is prepped, sellers should figure out how to price it appropriately so that they get its full value in a transaction, and a degree of marketing will often be required in order to notify potential buyers of the opportunity (though this may not be necessary if a buyer is already lined up).
The firm notes, “When you receive an offer from an interested party, it’s not uncommon that they would want to conduct a ‘pre-purchase’ inspection (either by themselves or a mechanic they trust). Both you and the buyer will agree on a time and a place for the motor vehicle inspection to occur.” Should the vehicle have any issues, having them documented — and signed — in writing can help prevent the seller from having to deal with liability issues in the future.
Several documents will be needed over the course of the transaction. Insurance Navy recommends that people start by locating their car’s Texas title and/or registration, the Vehicle Inspection Report (VIR) and so on. Should they have lost the title, the article says there is an easy fix: “Simply fill out Form VTR-34 Application for a Certified Copy of Title at your local Texas Department of Motor Vehicles or DMV. Usually, there is a small administrative fee between $2-$6.” Other documents that may be needed include Texas Title and/or Registration Form 130-U, which serves as a valid bill of sale. Once this form is filled in, the buyer will have 30 days in which to ‘title’ the vehicle in their name. The seller’s signature on this document constitutes proof that they have handed over this responsibility to the buyer, which is essential given that failure to title a car within 30 days after the date of sale may result in delinquent transfer penalties.
Insurance Navy Brokers’ advice also touches on what sellers should do with their license plates, how they should handle the insurance for their old and new vehicles and so on. More information is available in the full article: How To Sell A Car In Texas. The firm encourages interested parties to get in touch with a member of their team for any further clarifications. Insurance Navy is committed to helping people get affordable insurance that meets their needs, and they can be reached via phone, email or social media.
For more information about Insurance Navy Brokers - Houston, contact the company here:
Insurance Navy Brokers - Houston
1507 Gessner Rd, Houston, TX 77080