How To Sell a Trailer
1. What Type of Trailer is it?
Trailers can range from a few hundred to thousands of dollars depending on the type. There are many types of choose from the list below:
Hauling Trailers
- Boats
- Kayaks
- Canoes
- Farm Animals
Flatbed Trailers
- Stretch
- Double-Drop
Dry-Van (Enclosed) Trailers
- Refrigerated
- Not Refrigerated
Vehicle Carrying Trailers
- ATV
- Enclosed / Open
- Single / Multi-Vehicle
Once you know the type of trailer, it’s best to get the number of axels, length, year, maximum weight, and any other specifications that would be beneficial to a prospective buyer.
2. How Much is the Trailer Worth?
Unlike traditional vehicles, trailers often come in unique shapes and sizes. A price is determined mainly by the type of trailer used rather than the manufacturer (brand name). It’s best to view comparables (comps) to what others are selling (best to find in your local area). Chances are there will not be an exact match, but at the very least, you should be able to find a closely related trailer.
3. Listing for Sale
Before making the listing, it’s best to clean the trailer of any debris and paint over any rust that exists. This will allow for the best pictures when making a posting online. When listing for sale, it’s best to use the following online and offline options:
Online
- Craigslist.org (most popular)
- eBay (Trailer Webpage) (most popular)
- Trailer Specific Websites
Offline
- Newspaper
- Local Classified Magazine / Newsletter
4. Meet with Potential Buyers
Agree to meet with prospective buyers in the hopes that the trailer can be sold for the asking price. When speaking with any party that is looking to purchase, ensure that they are qualified by asking them what they will use the trailer for and if they have the cash necessary to complete the sale. Most lenders will not make underwrite a loan for a trailer unless a boat or other vehicle is a part of the sale.
5. Negotiate the Price
This usually will depend on the papers and documentation the seller has for the trailer. Separate from the title, if the seller has receipts showing that important items, such as the axles or tires, were repaired or replaced recently, chances are the seller will get close to their asking price.
If the seller does not have any documents, including the trailer’s title, the buyer may view the trailer as a higher-risk investment and want a significant discount to be motivated to purchase.
6. Complete a Bill of Sale
On the form, the following information is required to be included:
- Purchase Price ($);
- Buyer’s name and Mailing Address;
- Seller’s name and Mailing Address;
- Trailer Details;
- Make;
- Model;
- Year;
- 17 character VIN; and
- Other important details of mention.
- Date of sale;
- Witness’s signature, name in print and date; and
- Notary Acknowledgement (if applicable).
To ensure each party is who they claim to be, it’s highly recommended that the buyer and seller both bring government-issued identification with them (driver’s license, passport, etc.). Use these instructions to enter the details of the purchase in a line-by-line format.
7. Notify / Register with the State
If the trailer is used, the buyer will have to get the title cleared and transferred by the seller before submitting an application for registration. In most States, the trailer must be registered within 5 to 30 days otherwise it will be considered illegal to operate on the road. Be sure to have the registration completed within this timeframe by submitting the bill of sale, title, registration application, and any sales tax to the Local Licensing Office (Dept. of Motor Vehicles or DMV).
At this point, the sale is complete and shall have no obligations to one another unless expressly stated in the bill of sale.
Video
Sample: Trailer Bill of Sale
TRAILER BILL OF SALE
1. LOCATION OF SALE.
This bill of sale was created on [DATE] in the County of [COUNTY], State of [STATE].
2. THE PARTIES.
Buyer’s Name: [BUYER’S NAME] with a mailing address of [BUYER’S ADDRESS] (“Buyer”).
Seller’s Name: [SELLER’S NAME] with a mailing address of [SELLER’S ADDRESS] (“Seller”).
The Buyer and Seller hereby agree as follows:
3. THE EXCHANGE. (check one)
☐ – Cash Payment. The Buyer agrees to pay $[AMOUNT] (US Dollars) to the Seller.
☐ – Trade. The Buyer agrees to pay $[AMOUNT] (US Dollars) and trade described as: [DESCRIPTION].
☐ – Gift. The Seller is giving the trailer as a gift to the Buyer. The value of the trailer is $[AMOUNT] (US Dollars).
The above-checked selection is in exchange for the possession and ownership of the trailer described in Section 4.
4. TRAILER DESCRIPTION.
Make: [MAKE] Model: [MODEL] Body Type: [BODY TYPE]
Year: [YEAR] Color: [COLOR] Empty Weight: [WEIGHT]
Length: [LENGTH] Width: [WIDTH] Axles: [AXLES]
Vehicle Identification Number (VIN): [#] (17 Characters)
5. TAXES.
All municipal, county, and State taxes in relation to the purchase of the trailer, including sales taxes, are ☐ included ☐ not included in the purchase price.
6. BUYER AND SELLER CONDITIONS.
The undersigned Seller affirms that the above information about the trailer is accurate to the best of their knowledge. The undersigned Buyer accepts receipt of this bill of sale and understands that the above trailer is sold on an “as is, where is” condition with no guarantees or warranties, either expressed or implied.
7. AUTHORIZATION.
Buyer Signature: _______________________ Date: _________________
Print Name: ________________________________
Seller Signature: _______________________ Date: _________________
Print Name: ________________________________