At 07:45pm on Tuesday, the 8th of March 2017, Jozi’s...Read More
There are lots of things to worry about when selling a car, whether you’re trading in a car or selling a car privately, but imagine you’ve just finished the long and complicated process of meeting with potential buyers, haggling, and test driving, only to find that you don’t have the documents required to sell used car. Here is a list of the documents you’ll need when selling a car:
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Steer clear of anyone who tells you “we buy cars without a proof of ownership.” In reality, this document is a legal requirement for anyone who wants to sell cars for cash. Once you’ve finished paying off your car, the financial institution in charge of your vehicle finance should send you the proof of ownership certificate, as well as a letter stating that the car has been paid off. If you are still paying off your car loan, you’ll need to let the bank know that you wish to sell my car and request a settlement letter which will contain the outstanding amount left for your car loan.
In order to transfer ownership of a vehicle, you’ll need to obtain and fill out a Notification of Change of Ownership (NCO) format your local Traffic Department. This will not be required when trading in a car. When it comes time to sell used car, both the used car buyer and the car seller need to sign the form and take a copy, with a third copy going to the Department of Transport.
Another document you should have when selling a car is the Application for Registration of Motor Vehicle. This form isn’t required to sell used car, but it will make the process easier for the new owner. Car buyers must complete this form for registration purposes. You will not need this if you are trading in a car.
When you first registered your car, you should have been given a Vehicle Registration Certificate when you sell your car. If you’re selling a car privately or trading in a car, you’ll need to provide the car buyer with the original in order to complete the new registration as well as a copy for yourself so that you can de-register your car and one for your records.
This isn’t required when selling a car, but you should create one to ensure that there are no nasty surprises after you sell my car. Include the used car information, the terms of the sale and both the buyer’s and the seller’s information. Have both parties sign and keep a copy of the receipt. If you’re trading in a car, the dealer should provide you with a receipt.
This is optional if you’re selling a car, as the car buyer can complete a roadworthy test after purchase. These certificates are only available for 21 days, so as a car seller you should only get a roadworthy certificate if the sale is almost completed. However, a Roadworthy Certificate are required for the car buyer to register the vehicle in their name and having one when you make the sale may help you convince buyers of the vehicle’s quality. If you do decide to get one, bring your identification, vehicle registration and completed Application for Roadworthiness Certification with you to the vehicle testing station.
It’s always a good idea to keep all the maintenance receipts for when you decide to sell used cars. It will buyer if you provide these during the sale. This gives the buyer an accurate history of the car’s life and creates an honest representation of the car and justification of the sale price. If you have the original vehicle manual, provide this to the buyer as well.
Make sure you have your identity document with you when you sell my car. Exchange a copy of your ID for the car buyer’s ID, in case there are any complications with the sale.
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