If you are thinking about selling your used car, these tips are going to help you save time and hopefully make some money in the process.
The first thing to think about is where in Canada you are located. If you are in a major urban area like Montreal, Toronto, Vancouver, Calgary, and similarly-sized cities, then you are more likely to find a motivated buyer than in rural areas of Canada.
What is the year, make and model of the car you are selling?
Some cars have a better resale value than others. If you are not sure whether your car is on that list, take a look at sites like AutoTrader to do a price comparison. The pricing comparison on these websites is just for insight, you should not expect to get top dollar for your car but somewhere in the middle of the pack would be a reasonable expectation.
Preparing the right supporting documents
After you have figured out the price you want to ask for the used car, there are some documents you will need to prepare. The prices of used cars have risen dramatically in the last couple of years, prospective buyers will want to see the service records of the car to make sure it was well maintained. If you do not have those supporting documents, it can be difficult to get the full asking price for your car.
Aside from the service records, you should track down the lien release that you received after you repaid the car loan in full. You must be able to prove there are no liens against the car before selling it so be sure you have the lien release available.
Reaching your target audience
When you have the documents ready, you will need to think about how you are going to get your advertisement in front of prospective buyers.
There are websites where you can pay a premium to have your advertisement displayed on the top of the page. This is a great way to get in front of prospective buyers but you are competing with professional sellers who have deep advertising pockets.
Not only are you spending precious time and money on these advertisements, but there is also no way of knowing whether it will work. The professional sellers have more cars and experience than you, so it would be prudent to avoid paying to advertise.
Streamlining the used car selling process
Instead of putting yourself through the ordeal of trying to sell the car on your own, why not turn to the experts for help? You can take your car to a local dealership for a professional appraisal.
If you accept the cash offer that is made by the dealership, they will pay you right away. While the price you get from the dealership may be lower than the full market value keep in mind the dealership has to make a profit.
By sticking with the tips we have provided, you should be able to sell your used car with ease.
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For any questions or concerns, please don’t hesitate to contact us here!