What do I do with the vehicles of the estate? Guide to Estate Sale Vehicle Liquidation
What do I do with the vehicles of the estate? Guide to Estate Sale Vehicle Liquidation.
This is a comprehensive guide to how to liquidate you or your loved ones vehicle or RV when handling an estate sale. There are three types of vehicle you may encounter, High Value Vehicles, Regular Vehicles, and Junk Vehicles; I will explain how to best maximize your financial result for each. But first things first, if you cannot find the title to the vehicle…
Apply for lost title in WA state
It’s hard enough to keep track of a vehicle’s title when it's your own, let alone trying to track one down for a family member. If the title is missing, the issue can be handled with relative haste and isn’t as much of a pain as it used to be.
The DMV and the DMV’s website (listed below) can provide you with the Affidavit of Loss/Release of Interest form.
Once obtained, the owner of the vehicle, or power of attorney/those with legal ownership or control of the vehicle's interest will sign the form in the presence of a notary public. Most bankers or credit union professionals are notary publics and can help you with this on a walk-in.
At this point you can do one of the following:
Take the form to a vehicle licensing office and have your title mailed to you within 4-6 weeks at a lower fee, usually around $40.
Or
Visit a quick title office and have the title before you leave for a higher fee—usually about $90.
For further information and more specific instructions, as well as links to the form mentioned above and locations of offices please visit:
https://dol.wa.gov/vehicles-and-boats/vehicle-registration/vehicle-title/lost-title-or-registration
High Value/Special Vehicles
Maybe your relative was a car enthusiast and as such has a more unique car. Automotive auction websites will bring the best chance of liquidation. These sites offer a huge audience of people to see the car at any given time and will also help you price the vehicle out, taking the monumental task of where it stands in the ever-changing car market off your shoulders. A go-to website for selling a car in this way is Bring a Trailer. They will help you sell everything from antique cars to something brand new. Visit their website here:
Regular cars/RVs
You can always take a car to a dealership and see what they will offer you. Sometimes it can be a simple solution, but there's always a little money left on the table. Dealerships have to buy used cars at what’s called “wholesale” prices in order to make money when they turn around to sell it.
What if leaving money on the table isn’t an option? Facebook marketplace is a fantastic way to sell your car privately, and a more modern and safer alternative to Craigslist.
Want some tips to maximize your private sale value? These tips and tricks aren’t always in the cards for those dealing with an estate sale or property liquidation, but if you have the means, these tricks will bring you a better result.
Do some maintenance on the vehicle before you list it for sale. Update the registration, have the oil changed, replace or rotate tires, and do a detailed cleaning to show a prospective buyer that the car has been well taken care of, and give them one less thing to think twice about before handing over the cash.
Take clear photos and take a lot of them. All sides and corners of the car, including the front and back seats, show the engine, show the odometer, and don’t be afraid to point out dings and scratches. The more you show now in confidence is going to remove potential bargaining chips that buyers may try to pull when seeing the car in person.
Finally, when selling a car privately be sure to be safe. Meet in a public location, and bring someone you trust along with you to the meeting. Have the potential buyer’s information beyond what you can pull from Facebook. Ask for ID. Anyone seriously considering buying a car or motorhome privately will have no issue with these requirements, and if they push back it may be cause for concern. If the sale is for a large sum of cash, make sure to watch out for wire fraud and consider talking to your bank about how best to go about transferring funds.
Junk Cars and RVs
There are plenty of “we buy junk car” ads around town but what are those? They are usually towing companies! Many privately owned towing companies will buy your non-running or junk vehicle and sell it or the parts as part of their business model.
I recently had to move and had a car that was largely used for parts, leaving little value on the car itself. I knew I couldn’t sell it on Facebook marketplace very fast and a dealership was not an option. I called a local towing company who, upon inspecting the car, couldn’t pay me for it; but they took it off my hands free of charge. I just needed that car gone, and I knew it was worthless, so this was a great solution to the problem. The company I used was Roadman Towing and I recommend you give them a call if you are in a similar boat with a junk vehicle on your estate property. Find the information below:
Roadman towing
206-335-8383
Need a hand?
I have personally done every one of these options myself at one point or another and am a great resource for where to start with each step of the process. I would be more than happy to answer any questions you have, please don’t hesitate to reach out directly to me, Tristan Fox, with any questions you have on this topic. It can be a tough part of the estate sale process.
Authored by: Tristan Fox 206-963-7451 Tristan@raincityre.com
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