While many of us may like to hang on to a car for a long time,
there comes a time when we eventually have to sell it. The
reasons to sell your car may be plenty. Some may wish to sell it
because it’s worn out while others may want to invest the same
money elsewhere. Whatever the reason, once you have decided to
sell your car, considering a few regulations that will benefit
you in making the whole process a lot smoother. According to the
reports of 2009, Wisconsin had more than 2.53 million registered
automobiles. The statistics only point towards the ever
increasing demand for cars and the huge opportunity to get the
best selling price for your car.
Follow Regulations for a Smooth Car Selling Process
It is essential to consider the following Wisconsin regulations
while selling your car in the state:
1. Complete the Transfer of Title
In order to sell your car, you need to ensure that the transfer
of the title of the car is made successfully. According to the
laws of Wisconsin, you can only sell your car if the title of
the car is under your name. If it is either missing or damaged,
you will have to apply for a duplicate title at the Wisconsin
Department of Transportation. You will have to fill the
replacement title application (Form MV2119) in order to obtain a
duplicate title. Once you have received the title, you can move
ahead with the process of selling your car in Wisconsin.
2. Disclose Accurate Brand Information
A brand disclosure is an essential element that you should
consider while selling your car. It gives the buyer the required
information so that he/she can make an informed decision.
Consider the following different brand titles that your car can
receive:
‘Rebuilt Salvage’ -Your car will be allotted the title if it is
salvaged and the damage is more than 70% of its market price.
‘Flood Damage’– You will receive the title if your car was
flooded and the damages total up to 70% of its market price.
During the selling process, if your car has any kind of brand
title, it is mandatory for you to share the information with the
buyer. In case, you withheld such information, you can be
penalized up to $5000. Therefore, make it a point to disclose
the correct information while selling your car in Wisconsin.
3. Submit Odometer Mileage Statement
Prior to selling your car in Wisconsin, you need to submit a
statement of the current odometer mileage. An odometer mileage
reading measures the total number of miles that the car has
travelled. If your car is less than ten years old, you are
required to submit the statement. Every seller should submit it
to the Wisconsin Department of Transportation.
Selling your car is an important step. Keep the above
regulations in mind while selling your car in Wisconsin. It will
ensure a smooth car selling process and enable you to buy your
next car easily.
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by: Jeffery Reynolds
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