The procedures and approach for selling a car online vary by state. Discover how to sell your used car or truck in Arkansas confidentially.
If you reside in the Arkansas Valley, the Ozark Mountains, the Ouachita Mountains, the Mississippi Alluvial Plain, or the Coastal Plain of Arkansas and want to sell your old automobile or truck privately, you've come to the perfect location. With an estimated 1 million registered trucks and vehicles in Arkansas, it's no surprise that cashforcarsinc has helped thousands of individual vehicle sellers in the "Land of Opportunity" sell their cars. We've described the methods and documents needed to sell a car in Arkansas so you may sell your automobile promptly and for the maximum amount of profit. According to the Arkansas Department of Finance, the average purchase price of a used automobile in Arkansas in 2020-2021 was a little over $13,000.
Remember that most states regard the car title as a legal document, so use the legal names (no nicknames) of both individuals involved as well as legible handwriting in black or blue ink. Mistakes, typos, and the use of White-Out may render the document null and worthless, so be cautious and take your time filling it out.
Step 1: Allow the buyer to have a third party assess the vehicle
Many private automobile buyers pay for a pre-purchase vehicle check performed by a skilled and certified auto technician of their choice. Although the buyer pays for the inspection, the seller and buyer must agree on the date and location of the inspection. If the inspection reveals any problems with the vehicle, you should save the report for your records as the seller. Arkansas does not require this inspection, and there are no documents to fill out, but it is a good idea for the buyer to have it completed prior to the purchase.
Step 2: Organize and collect all vehicle papers
Find all maintenance records, the owner's manual, and other vehicle-related papers. If you can offer the buyer extensive and thorough maintenance documents, it will give the buyer confidence that the automobile has been properly and regularly maintained. You should also think about providing a car history record from a provider like CarFax or AutoCheck.
The title certificate is the most critical document to have when selling an automobile. If a lien exists on the title, the lienholder must release interest in the vehicle before it may be sold. This can be accomplished by either the seller paying off the vehicle or the lienholder obtaining a letter of lien release. If you are unable to pay off the automobile, you must file a lien release statement from your lienholder with the DMV.
Step 3: Purchase agreement and odometer disclosure
The age of the title determines whether you require a bill of sale. You do not need a bill of sale if your title contains places on the rear for an odometer reading and a purchase price. However, if your title is old enough, it may not have slots for those two crucial things. If this is the case, you must use Arkansas' official bill of sale as well as the odometer disclosure statement. On this form, you put basic car information such as the year, make, and model, as well as the odometer reading, the purchase price, and both the buyer's and seller's signatures. While a bill of sale is not needed for every private party automobile transaction in Arkansas, having one is generally a good idea. A copy of the Bill of Sale should be kept by both the seller and the buyer.
In December 2020, the National Highway Traffic Safety Administration (NHTSA) revised its odometer disclosure standards, which may affect some private car purchases in Arkansas: Any vehicle of the model year 2011 or newer that is transferred between January 1, 2021, and December 31, 2030, will require an odometer disclosure. Beginning January 1, 2031, every vehicle less than 20 model years old will be required to have an odometer disclosure. Previously, the NHTSA only mandated disclosure for the first ten years. Cars manufactured before 2010 are exempt from odometer disclosures.
Step 4: Change the title
If the vehicle's title is lost, stolen, or severely damaged, you can obtain a replacement/duplicate Arkansas title by completing the Vehicle Registration Application, Form 10-381. You can get a duplicate title with that form and a $10 fee by mailing your form and fee to the following address:
Charles D. Ragland Taxpayer Services Center
Room 1040
1900 West 7th St
Little Rock, AR 72201
When privately selling an automobile in Arkansas, both the buyer and seller must fill out the applicable areas on the back of the title. This information contains the buyer's and seller's legal names, addresses, and signatures, as well as the date of the transaction, the odometer reading, and the purchase price (if one is provided). When this is filled out correctly and legibly, the buyer can easily transfer registration and obtain a new plate. When joint ownership is connected by "AND" on the title, all owners' signatures are necessary. If the seller's names are separated by an "OR," only one seller's signature is required.
If you want to give an automobile to a relative, you can transfer the title using the identical procedure described here. The Notice of Transfer of Ownership of a Motor Vehicle is an important document you'll need. It's largely the same process for inheriting a car, except you'll need death papers and an Affidavit of Inheritance of a Motor Vehicle, Form 10-306.
Step 5: Take off your license plates and cancel your insurance
Before passing over the car to the buyer, the seller must remove the license plates. If you do not, you may be held accountable for any infractions that occur after the buyer takes ownership of the car. You have the option of changing your license plates to another car when the sale is completed. After the sale is completed, you, the seller, should execute a Release of Liability, which may be done online here. Otherwise, you can submit a Notice of Transfer of Ownership of a Motor Vehicle to the address on the form. After you've removed your license plates, make sure to cancel your insurance as quickly as possible so you don't have to pay to insure a car you no longer own.
Visit the Arkansas myDMV website for further information.
The Easier Way to Sell Your Car
Now that you've learned everything there is to know about selling a car in Arkansas, it's time to determine where to list it. It is simple to sell your car with Cashforcarsinc. With ready-to-sign state documentation, encrypted chat, and more, our platform provides all the tools and recommendations you need to make the transaction a breeze.
