How to Get Rid of Your Old Car: Best Way to Sell a Car in 2023

How to Get Rid of Your Old Car: Best Way to Sell a Car in 2023

Posted on May 21, 2022

If you’re getting ready for a new car and are planning your auto loan, down payment and trade in, knowing how to get rid of your old car is part of that equation. That can either be simple or more complicated depending on the age and condition of your car.

Regardless of that, you generally have three options to get rid of your old car as our Vineland auto loan team explains.

Trade in your old car

If you’re planning to buy a new car from a dealership, it makes sense to trade in your old one. As long as your car isn’t too old and could be resold, the dealer may offer decent money for it.

The used car market is stronger than ever and prices offered are much more competitive than they ever used to be. While you still won’t get the same price as you would selling privately, it isn’t quite so much of a gap now.

Plus, if you’re buying from the dealership, you can take care of everything in one visit.

Your trade in can be taken off the amount of the auto loan you’re using to buy the new car and potentially improve your chances of being approved!

Sell your old car privately

You could also sell your car privately. You could get more money for it this way but it’s more of a hassle.

You’ll need to take pictures, write the ad, answer calls, cope with test pilots and time wasters but it can be a simple way to raise a little money for your down payment.

Just take precautions, make sure the ad is as accurate as you can make it and that people know where you are when you’re out on a test drive. Be aware of payment methods too. Ask for a bank transfer or cash and verify the payment before handing over the keys!

Get a car history report from Carfax, get its value from Kelley Blue Book and you’re good to go.

Sell your old car for scrap or parts

If you have a really old car or it isn’t in great condition, you could sell it for scrap or for parts. There’s a thriving used car parts market out there that is always hungry for spares. You could make a surprising amount selling the car this way.

Either sell it to a scrap merchant and let them handle everything or strip the car down and sell the parts individually. Much will depend on your mechanical ability, space and spare time!

If you’re selling your car, give it a good clean, fix any defects, check tires, wipers and all electrics and make the car as presentable and as sellable as possible. The less work the new owner will have to do, the more they will offer for it.

If you're ready to sell your car in Southern Ontario, we'd love to buy it! simply fill in the form below to get started.