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Avoid These Mistakes when Selling your Car!

Avoid These Mistakes when Selling your Car!

If you’re planning on selling your car in the near future, it might be a good idea to read this first. We work with hundreds of drivers around Canada who want to sell their car and many keep making the same mistakes.

 

We thought we would highlight some of the most common errors we see here in the hope you don’t make the same ones.

 

Not pricing the car realistically

 

We always seem to be talking about valuing your car accurately. Partly it’s to make sure you price your car fairly and don’t let it go too cheap. It’s also partly so you don’t price it too high and ruin your chances of a sale.

 

We see a lot of people make up their own value for a car without looking at the market. Some also factor in the emotional value tied up within the car.

 

Both are a mistake. A car is only worth what the market says it is, not what you think it is.

 

Check your make, model, trim, year and mileage against Carfax, Kelley Blue Book, Auto Trader, eBay, Craigslist and Kijiji. Then come up with a sensible figure somewhere in the middle.

 

Making expensive repairs before selling

 

Preparing your car for sale is a balancing act. You should definitely make minor repairs that will make a difference to how someone would view the car.

 

But you have to strike a balance between spending just enough to make it more sellable and perhaps more valuable and spending too much and making a loss.

 

We would recommend repairing anything on the bodywork and anything that impacts roadworthiness. Anything else is purely optional.

 

Not declaring accidents or insurance claims

 

We perform checks on every car we consider buying as park of the process. Those checks will highlight any insurance claims, so when we ask if the car has been in any accidents, you should say so.

 

If you fail to declare an accident and we find out during our checks, we begin to wonder what else you haven’t told us about. This causes doubt, which lowers the chances of you selling the car.

 

Not wiping navigation data from the car

 

When selling your car to a dealership, we’ll wipe the data for you as part of reconditioning, but you should definitely get into the habit of doing it.

 

If you sold the car privately, that person would know where you lived, where you worked, where you went to the gym or bought groceries.

 

There’s a lot of data in a car’s navigation system so make sure to wipe it before you sell it.

 

Not having title to the car

 

Surprising but true. We hear of a lot of people trying to sell their car without having title to it.

 

That could be because of outstanding finance or because they didn’t get the title back from the lender when they settled the loan. You must have the title, otherwise you have no legal basis to sell the car.

 

If you have paid off the loan, the lender will send you the title. If you have outstanding finance, we can work with you to settle the loan as part of the process.

 

For any questions or concerns, please don't hesitate to contact us here!

 

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