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Beginner’s guide to selling your used car in Canada

Beginner’s guide to selling your used car in Canada

There are some important things you must do when selling your used car in Canada. It seems everyone wants to make a fast buck selling a used car and you can get in on the action but it helps to have a game plan.

Calculating the fair market value of your used car

This is arguably the hardest part of the car selling process. If you price the car properly, you will be able to get a good amount of cash for your vehicle however, if the price is too high or low, you could be stuck waiting a long time for a serious offer.

It may sound counterintuitive that you would wait a long time for an offer when the car is listed at a low price but that happens. When a prospective buyer sees a car listed at a very low price, it sends the signal that there is something wrong with the car.

On the other side of the spectrum, if your asking price is too high then no one will make an offer. Speaking of offers, you should try to deal with local buyers. You will come across buyers online but if they are out of town or out of the province, tread carefully.

There are many scammers out there who will pretend to be legitimate buyers but are trying to get personal information about you and the vehicle.

Even when dealing locally, you are still at risk of being scammed so there are some things to focus on.

Does the prospective buyer offer to pay you with a company or personal check? Check fraud is rampant in Canada and if you accept one of these checks you could end up being ripped off. Some scammers will give you a check which looks real but the account is fake, closed, or was used by a now-deceased person.

You should go with the buyer to their bank and get a bank draft from them at the bank.  By going to the bank with the buyer and watching them get the draft, the risk of you getting ripped off is somewhat reduced.

Risk-free ways to sell your used car

We have a risk-free way for you to sell your used car and get paid right away. The downside is that you will not get 100% of the market value of your used car.

You will need to visit your local dealership and have them prepare a professional appraisal. The appraisal is a representation of what your car is worth. Since the dealership is in the business of buying and selling cars, they need to buy it from you at a lower price and resell the car for a profit.

The upside to going to the local dealership is there are no hassles and you get paid right away. This is the only way you can sell your used car quickly and risk-free.  Now that you know how to sell your car risk-free, you can book an appointment for an appraisal to see where things stand.

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