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The Only Right Way to Sell a Used Car in Ontario

The Only Right Way to Sell a Used Car in Ontario

If you are reading this, you probably want to sell a used car in Ontario.  Everyone is trying to cash in on the used car market in Ontario and around the world.

 

This is might be your first time trying to sell a used car in Ontario, so it would be helpful if you followed some best practices, to keep yourself safe.

 

Pricing your used car properly

 

You probably looked up the current price of your car on AutoTrader or CarFax and got excited. The prices that you see on these websites are “estimates”, there is no governing body that sets the prices of used cars, so you need to take a level headed approach to this step.

 

Look at what the highest and lowest prices for a comparable car for the last 30 days, average out those two prices and that is your starting point. If your vehicle has low mileage or is in exceptional condition, you can quote on the higher side of that average.

 

Getting all of your documents in order

 

Have you downloaded the kit for selling used cars from the Government of Ontario? This kit is essential when trying to sell a used car, so you should get it ASAP.

 

Are there any active liens registered against your vehicle? When you first purchased your car, the lender would have registered a lien. This lien is removed when the loan has been repaid in full. If you never received the loan release letter from the lender, you need to get it right away. Most prospective buyers will not make an offer when there is an active lien registered against the vehicle.

 

Where to sell your used car in Ontario

 

There are websites you could advertise your car for sale, and you should consider them. With the proliferation of scams taking place online, insist on dealing with local buyers that you can meet in person. The pandemic has forced us to limit our in-person interactions but you still need to meet the buyer face-to-face (wearing a mask of course).

 

Acceptable forms of payment

 

When meeting with the prospective buyer, if you come to an understanding then you should get paid by bank draft from a local bank.

 

Never accept a personal check or cash, you could be mugged and the personal check could bounce. If the buyer is not willing to use a bank draft, you should not do business with them.

 

Simplest way to get paid for your used car

 

There is an easier way to sell your used car, it requires zero effort on your part and you can get paid cash! Visit your local dealership and ask them for a free appraisal. The dealership will let you know what your car is actually worth (it would be interesting to compare what your asking price is to the professional appraisal).

 

If you accept the offer, the dealership pays you right away. There is no hassle with this transaction because the dealership is licensed and professional.

 

Now that you are armed with this information, you can bring your used car down to your local dealership and get it appraised.

 

If you're looking to sell your car quickly and safely, why not sell your car to us at Car Nation Canada! Click here for a free no-obligation appraisal on your car. 

 

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