Need some tips on selling my car

[pingable]

Couple of questions -



If the prospective buyer want's to take a test drive, other than a license, do I make sure they have any type of drivers insurance ? What if they are a first time buyer and they don't ?



What type of payment arrangements are common ? I don't want to get a certified check / money order and hand my title over. Those funds can be fake or even cancelled by the purchaser of those *certified funds*. Should I just accept payment, give buyer bill of sale and tell them when the fund clear 100% via my bank, I will deliver title & keys ?



I currently have about 10K left financed with the bank. I guess as soon as it's a confirmed sale, I would send a payment to the bank via FedEx next day so they could clear the lien on my title......



Any helpful tips would be greatly appreciated. It's my first car that I'm selling and I've never done a private sale before.

 

[GoodnClean]

If the prospective buyer want's to take a test drive, other than a license, do I make sure they have any type of drivers insurance ? What if they are a first time buyer and they don't ?

No, generally your insurance covers drivers that drive the car with your permission. Call your agent and make sure though.

What type of payment arrangements are common ? I don't want to get a certified check / money order and hand my title over. Those funds can be fake or even cancelled by the purchaser of those *certified funds*. Should I just accept payment, give buyer bill of sale and tell them when the fund clear 100% via my bank, I will deliver title & keys ?

Yep, don't let the car leave without the funds in the bank, all clear.

I currently have about 10K left financed with the bank. I guess as soon as it's a confirmed sale, I would send a payment to the bank via FedEx next day so they could clear the lien on my title......

That can be kind of sticky, call your lender and find out what the payoff procedure is. Some lenders prefer if the buyer writes them a check for the loan balance and then writes you a check for the difference.

Any helpful tips would be greatly appreciated. It's my first car that I'm selling and I've never done a private sale before.

Price it properly. Most people who sell on their own overprice and that just creates a huge PITA. Selling it on your own is a pain and its only worth it if you can get the process done quickly.