6 Car Selling Tips in Canada That Will Make The Process a Breeze
6 Car Selling Tips in Canada That Will Make The Process a Breeze
Posted on April 15, 2022
Anyone in Canada thinking about selling a used car should consider following these tips. These tips have one purpose in mind, to make the entire used car selling process a pleasant one.
If you follow these tips, you will be able to sell your used car and hopefully make a tidy profit in the process.
Know what you have
Knowledge is power. In this context, it means knowing your car as much as possible. Being able to answer a question like ‘what size engine is it’ with an answer like ‘I don’t know, I just fill it with gas’ isn’t going to cut it.
You don’t have to know compression ratios or anything too technical. You just need to be able to answer likely questions a buyer would ask.
Now knowing the answer means less work for a potential private buyer, which can put them off. Dealerships know their cars so are less likely to be put off by this, but if you sell it privately, know what you’ve got.
Keep it clean
You always shower before you go to work or on a date, right? Why? To make a good impression. It’s the same for your car.
Clean the car inside and out, get rid of any unsociable smells and do everything you can to create a positive impression. Clean it, wax it, make the tires shine, clean the wheels, clean the interior and empty it of trash.
You’ll be amazed at what a difference a simple clean can make!
Know your payment methods
Sell your car to a dealership and we’ll pay directly into your bank. Sell a car privately and you’ll have to specify what payment methods you’ll accept.
Don’t accept personal cheques. Don’t accept escrow unless you know the institution offering the service. Even then, be very aware.
Accept cash as long as the buyer comes with you to deposit it into the bank. The bank will check the cash is legit before they accept it, doing your job for you.
Don’t accept a cashier’s cheque or banker’s cheque unless you’re with the buyer watching the cheque being cut. These cheques can be easily forged, so watching it cut reduces the risk.
A bank won’t write a cheque like that if there is insufficient funds, which is an extra protection.
Then take the buyer with you to cash the cheque. Again, if anything untoward has happened, your bank won’t cash the cheque or will alert you if it’s an obvious fake.
Understanding the used car market in Canada
The used car market in Canada is experiencing growth that no one could have predicted.
However, Covid has put a strain on the global supply chain, and the altercation in Europe has made things even more challenging.
Car manufacturers cannot produce enough new vehicles to satisfy the current global demand; there are buyers from developing countries that are all vying for the same new cars produced here in Canada.
When supply is not enough to meet demand, then prices rise, but even high prices are not enough, car buyers are not willing to wait for new cars to be made and are buying used cars from the secondary market, which is fantastic news for individuals like you who want to sell your used car.
Identifying the best places to sell your used car
Now that you understand the driving force behind the demand for used cars, you need to find the right places to list them for sale.
Do not waste your time with Facebook marketplaces or other social media platforms.
While they are great for selling low-value items, you are not going to find the right type of motivated buyer when it comes to cars.
Most of the people who use these social media marketplaces are looking for items they can make lowball offers on; you don’t want to deal with that aggravation, so skip these platforms.
One of the best platforms you can put your used car up for sale in Canada is AutoTrader, but just listing the vehicle there is not going to guarantee you success.
You are going to be competing with multiple other sellers, so your ad needs to “wow” prospective buyers.
One effective way to make your advertisement stand out is by using the best possible quality images and videos of the used car in operation.
This attention to detail will not go unnoticed by prospective buyers, so you should make an effort.
How to safely sell your used car for fast cash
One option to sell your car that merits serious consideration is bringing your used car to a dealership.
The dealership will buy your car, but they first determine what it is worth. Dealerships will conduct a professional appraisal and let you know what the current fair market value is for your used car.
The dealership is going to resell the used car for a profit, so they cannot give you one-hundred percent of the fair market value, but they will give you a competitive offer.
If you take the offer, the dealership will pay you right away for the used car. This is an excellent option for anyone who needs fast cash for their used car or just doesn’t want to deal with trying to sell it on their own.
If you’re looking to sell your car in Ontario, we’d love to buy it for a great price! Simply fill in the form below and we’ll get back to you ASAP!
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