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A risk-free way to sell your used car

A risk-free way to sell your used car

The used car industry as a whole has never experienced a demand like this in recorded history. Covid-19 reduced the available inventory of new and used cars to all-time lows, which is great news if you want to sell your used car for cash.

Understanding the market forces at play

Before we go into how to sell your used car, we need to understand why the market is on fire. In the past, before anyone knew about Covid-19, if you had a used car, you would put it up for sale and wait for someone to buy it.

Depending on the vehicle, it could take a few days or weeks before you got an offer and may be longer before you could sell the car.

Used car buyers were “kicking tires” and looking for a good deal, who could blame them, there was no sense of urgency. Everything got turned upside down though, with Covid-19, carmakers are not able to produce enough new vehicles to meet buyer demand.

Car buyers do not want to wait for the carmakers to catch up, they want a car right away and are buying used cars.

At first, it was not much of an issue because of the excess used car inventory but with buyers across the world looking for used cars and we are now in year two of the pandemic, the lack of cars is really starting to wreak havoc in the market.

High prices for used cars

While prices are high for used cars, finding a qualified buyer that is willing to cut the proverbial check is not that easy. Most of us in Canada are still working from home, so we have an influx of newbie used car buyers that are looking for a low-priced car they can buy and flip it for a profit. This approach works great but it has become saturated.

The reason we are mentioning this issue is you will be inundated with lowball offers which will waste your time and make you regret putting your used car up for sale. There are a few things you can do, to help reduce your aggravation.

Putting your best foot forward

To save time, create a great advertisement for your used car. You should prepare your car by having it detailed, it will cost a little bit of money to have the car professionally detailed but it will help enhance the curb appeal.

Once the car has been detailed, start taking high-definition (HD) photos and videos of the car.

There is no need to buy special equipment, your smartphone camera should suffice. After you have the photos and videos in place, you can start writing up the description.

When drafting the description of your used car, adopt the mantra that less is more. Prospective buyers don’t want to read a large amount of text. Use bullet points where it makes sense, talk about the condition of the vehicle, mileage, and asking price.

If you want to sell your used car and not deal with the headaches that come with selling a used car, you can go through a local car dealership. They will let you know what your car is actually worth in the current market and if you accept the offer, you get paid right away.

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