The procedures and approach for selling a car online vary by state. Discover how to sell your used car or truck in Colorado confidentially.
If you live in the Great Plains, the Southern or Middle Rocky Mountains, the Colorado Plateau, or the Wyoming Basin of Colorado and want to sell your old car or truck privately, you've come to the perfect location. With an estimated 1.5 million trucks and vehicles registered in Colorado, it's no surprise that thousands of individual car owners in the Centennial State have used cashforcarsinc to sell their vehicles. Most states in the United States regard the car title as a legal document, thus using the legal names (no nicknames) of both parties involved and readable handwriting in black or blue ink. Mistakes, typos, and using whiteout may render the document null and worthless, so be cautious and take your time filling it out. We've described the processes and documents needed to sell a car in Colorado so you may sell your automobile promptly and for the maximum amount of profit.
Step 1: Allow the buyer to have a third party inspect the vehicle
Prior to purchase, the buyer should have the vehicle inspected by a mechanic of their choice as part of their due diligence. Autotrader recommends that all potential purchasers have a used automobile they are considering purchasing evaluated by an independent technician. The only possible exemption is when purchasing a certified pre-owned vehicle from a reputable dealership. In this situation, the carmaker (Ford, Honda, and so on) has a mandatory inspection procedure that the selling dealer must adhere to.
While the buyer should be ready to pay for this examination, as the seller, you should collaborate with them to arrange when and where the inspection will take place. Keep the report for your records as the seller, especially if any problems with the car are discovered.
Step 2: Vacuum the Vehicle
If the buyer wishes to proceed with the sale once the car has been examined, make sure you clean it out before proceeding with the transaction. In fact, you should definitely thoroughly clean the automobile before listing it for sale. While it goes without saying to remove all personal belongings, now is also a good opportunity to search your garage for anything that came with the vehicle but has since been removed, such as floor mats, cargo nets, and even cup holder liners. Finally, take out and retain any registration and insurance cards from the glove box.
Step 3: Take off the License Plates
Because license plate numbers are linked to the owner of the vehicle, you should remove and save your license plates when selling your automobile. In reality, Colorado law requires vendors to keep their own license plates until the buyer drives away. If the seller leaves license plates on the car, the seller may be held accountable for traffic offenses and other infractions committed by the new owner.
If you wish to transfer these plates to another car, you'll need a copy of your former registration.
Step 4: Construct a Bill of Sale
While a Bill of Sale is not required in Colorado when selling a car, it is a good idea to generate one for both you and the buyer. Consider this to be your transaction receipt. Colorado.gov has a car Bill of Sale template, but you'll probably want something a little more complete. Fortunately, there are plenty more layouts available online. A car Bill of Sale should include the full name, address, phone number, driver's license number, and signatures of both the buyer and seller, as well as the vehicle's make, model, year, color, VIN, and odometer reading at the time of sale. It should also have sections for the transaction date and sale price.
Remember that the buyer may bring their own Bill of Sale for you to complete. In any case, bringing a copy of yours with you and the buyer when you go to complete the purchase is a wise decision. When the buyer seeks to transfer the title or register the car in their name, the Bill of Sale might come in handy.
Step 5: Collect the Seller's Payment
It is preferable to receive cash from the seller before signing over the title, as reversing the deal beyond this stage will be difficult.
Step 6: Sign the Title Over
You must sign in the relevant locations on your Colorado automobile title to transfer ownership to the buyer. Be extremely careful when doing this, since any errors will render the document null and invalid. On the back of the title, insert the vehicle's odometer reading (in whole digits) at the time of sale, assuming it's of the model year 2011 or newer. Then, print your name exactly as it appears on the title. If the title has two or more registered owners and there is an "and" or nothing between their names, both signatures and written names are necessary.
If there is an "or" between the names, just one individual's signature and the written name are necessary. Complete the blanks for the selling date and buying price as well.
If the title is "Rebuilt from Salvage," the seller must first submit a Rebuilt from Salvage Disclosure. If you don't know why the car was salvaged in the first place, you must do a vehicle record check to find out. Remember that if you acquire a car with a "rebuilt" or "salvaged" title, you may be unable to obtain insurance. Furthermore, any liens on the front of the title that have not been discharged must be signed off on by the lienholder. When selling a car, a title is necessary. If you've misplaced your vehicle's Colorado title, you may get a replacement here.
The National Highway Traffic Safety Administration's (NHTSA) odometer disclosure standards, which affect some private car purchases in Colorado, were revised in December 2020: Any vehicle of the model year 2011 or newer (2012, 2013, etc.) 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 7: Report the Vehicle's Sale
You must notify the transaction to the state of Colorado after transferring the car to the buyer. You should do this within five days of the sale's completion. This takes around five minutes to complete online or at the nearest county motor vehicle office.
Step 8: Cancel any vehicle-related insurance and subscription services
After the buyer has taken ownership of the car, terminate your insurance policy on it, as well as any telematics, satellite radio, or internet subscriptions linked with it.
Visit the Colorado gov DMV page for more information on selling a vehicle in the state of Colorado.
The Easier Way to Sell Your Car
Now that you've learned everything there is to know about selling a car in Colorado, 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.
