Many people have found that it is much more lucrative to sell their used cars than to trade them it. These people put for sale signs in the vehicle and someone comes along to buy it. There are a few things that people should consider when selling their used car. It’s important to gather documentation of auto insurance information like the car’s claims history, repair records, and how your state’s lemon laws apply to private sales. If you don’t know the lemon laws in your state, you could end up with a huge problem on your hands.
What is a Lemon Law?
Lemon laws were enacted to protect buyers from purchasing a car that is unsafe, immobile or has other issues that may affect the value of the vehicle. The defects in the car must have been there before the car was purchased.
It highly depends on the state you live in as to what is considered a lemon. For instance, some states do not cover used vehicle under their lemon law. The differences between states can be huge, so it is very important to find out the exact laws in your state.
How do you find out what the Lemon Laws are in Your State?
The fastest way to find out what the lemon laws are in your state is to do a search on the internet. Type “lemon laws [state]” into the search field. Click the search button and hundreds of links will appear. You will get a basic idea of what is and is not considered a lemon by state law by clicking on these links.
The local library keeps law books on hand for public view. Although many of these books must remain in the library, it is a good way to search to find specific information about lemon laws in your state.
Talk to a lawyer to find out what the lemon laws are in your state. This method will most likely cost you money, but it can save you a lot of money in the long run. It depends on how much you plan to sell the car for and if there are major known problems with it before you sell it.
How to avoid being sued under the Lemon Law for selling your Used Vehicle
When selling a used car, be sure to mention any problems with the vehicle to the potential buyer. In fact, put it in writing so the buyer cannot later say that you lied to him or her. Make sure the buyer signs the paper and keep a copy for yourself.