There over 7,000 vehicle recycling facilities in the USA which make part of a $25 billion a year industry.
A large proportion of a car can be recycled. If you have an old car filling your garage space that has not been driven for years, you may want to consider selling it for cash.
The biggest challenge in disposing of old cars is the unavailability of their title deeds.
For really old models, owners may not remember where they stored the titles and in some instances, the car may have been passed down to them without it.
In this article, we will look at why a title is important and how to junk a car without a title.
Why is a Car Title Important?
A car title is a document that proves the legal ownership of a vehicle. In some states, it is called the pink slip.
When a vehicle is being sold, the seller must transfer the title to the buyer. Afterward, the buyer must get the title in their name from the state’s Department of Motor Vehicles.
The purpose of the title is to prove ownership of the vehicle and therefore the authority to sell it. It also serves to provide the buyer with some insight about the car.
How to Junk a Car Without a Title
Selling a car with a pink slip is easy and straight forward; however, you can still manage to sell it even if you do not have a title. The following are some options that you have.
1. Submit a Request for a Duplicate
Duplicate car titles are issued at your state’s DMV office if you have lost yours. You will only need to go through a simple application process and wait for your new title.
Other issues with your title such as incorrect or misspelled names can also be fixed at the DMV’s.
If you are planning to sell your vehicle to someone in another state, you should apply for a replacement certificate of title in your state. With this form, you will be able to assign your vehicle’s ownership to the buyer.
Also, you may have to apply for an Affidavit in Lieu of Title form. This is a document that proves your ownership and is issued to the buyer as protection from any legal issues that may arise.
To get it, you will require the past bill of sale or previous car insurance documents as proof of ownership. You will have to wait several weeks to get your title after completing the application.
2. Check with the Bank
When a car is purchased using a car loan, the bank keeps the title until the loan has been paid in full.
In such cases, you need to talk to the bank and find out what procedures they have in place that you should follow to be able to complete the sale.
You should also find out what the payoff amount is. Once the car is sold you will have to pay off the loan on the car.
Selling a vehicle without a title can be hard as the buyer may feel nervous. To prevent them from getting cold feet midway during the deal, ensure that you are honest from the word go.
This will help put them at ease and make them more comfortable to proceed with the purchase.
At times, you may not have the title at the time of sale. To ensure the buyer does not panic, give them a bill of sale and intent to get the title to them.
Have the buyer write you two checks. The first one should be for the outstanding amount for the loan and the other for the remaining amount. Your bank should then send the title to the buyer or their preferred bank.
3. Use Your License and Registration
Even if you are not able to get the title, you can still sell the vehicle for cash. Some junkers are open to purchasing vehicles without titles.
However, this method will involve providing extra documentation to prove your ownership of the vehicle. Though the requirements may vary, they normally request for valid registration and your driver’s license.
Getting the Most Money Possible for Your Junk Car
Even if you are selling a broken down car that can’t even start, you will want to get as much as you can for it.
The amount you will get paid for it will vary based on several factors. These include the vehicles year, make, model and mileage as well as the location.
You might also get more for your car if you live in a highly populated area. Cars that can start will also go for more than those that don’t.
When you spot a reputable junkyard, call them up and express interest in selling your car. The junkyard attendant will also have some questions for you. Your answers will help them come up with a value for the car.
Make sure your responses are as accurate as possible. This will also ensure that you get accurate valuations.
Once you have received a good offer, you may proceed with the sale. Avoid any junkyards that request you to take your vehicle in for valuation.
This will only increase your costs. It will also give them the upper hand during negotiations. You will be more susceptible to accept their offer in order to avoid returning with your junk car.
After the Sale
Now that you know how to junk a car without a title, do not leave your old car to rot in the yard.
Once the sale is complete, contact your state DMV after a week to be sure the transfer was completed. If there is any delay with the transfer, you may still be liable to any mishap that may involve the vehicle.
Do you have a car you would like to convert into instant cash? Cash Junk Car buys used, damaged and junk cars in any condition.
Call us now for a free quote.