How to Sell a Car in Ontario: A Full Guide
How to Sell a Car in Ontario: A Full Guide
Posted on April 19, 2022
With the used car market on fire, you may want to sell your used car and make a profit in the process. That's why we're going to tell you the easiest way to sell a car in Ontario.
There is no denying the market has experienced unprecedented growth, but there are some important things you must bear in mind when selling your used car if you want to capitalize on this opportunity.
Developing an Engaging Advertisement
The description of the car is what prospective buyers are going to see first, so use simple language. You are not working on your graduate dissertation, and by keeping the description simple, to the point, prospective buyers are going to appreciate the effort.
To give your advertisement that extra edge, you should include photos and high-definition videos of the interior and exterior of the car.
Most of us are living in the age of TikTok and YouTube, where we prefer to consume content in video format instead of text.
Your write-up could be amazing, but if the video photos are not up to snuff, you are going to miss out on a great selling opportunity.
While you are advertising your car for sale online, you should only do business with buyers you can meet in person.
Getting Your Car Ready for Market
You have probably grown accustomed to your car being and looking a certain way, but you want to maximize your income generation potential when selling your car in 2022 by making it look great. Bring your car to a professional detailer who can make the car shine. This will require a modest investment on your end, but it will be worth the price when you get your full asking price.
Do you Know What Your Car is Worth?
Not all cars are valued the same way, especially when talking about used cars.
There are some models that have a higher resale value than others, so you will need to determine what the current fair market value is for your specific make and model.
One resource you could use to determine what a fair price would be is Kelly Blue Book. This website will give you some insight into what a reasonable asking price is, but you need to add a buffer for negotiations.
Along with adding a buffer for your negotiations because no one ever pays sticker price when dealing with used cars, you also make take into consideration your location.
If the buyer needs to ship the car to his/her home and it is in another province, that has to be considered, or you risk losing out on a good deal.
Importance of Meeting Your Prospective Buyer in Person
While the prospective buyers may be in another province, you still need to meet up with them in person.
There are many scams that take place online, and since used cars are a hot commodity, there are scams targeting used car sellers like you.
The risk of being ripped off is massively reduced by meeting up with prospective buyers in person.
Selecting the Right Places to Advertise Your Used car for sale
This step will require some leg work from your end; there are many different platforms like Copart where you could put your used car up for sale.
Some of these platforms have an upfront cost to list without any guarantee of getting a sale.
One popular option is using platforms like AutoTrader, which attracts millions of visitors throughout Canada.
When Do You Need the Money?
This question is one that most first-time used car sellers overlook. If you need payment right away, you can bring your car to a local dealership, and they will buy it from you at a discount.
The dealerships are in the business of reselling cars for a profit, so they cannot give you the full asking price of your used car, but they will give you a fair price, and this transaction is risk-free.
If you have the luxury of time, then you can move forward and try to sell the used car on your own.
The Easiest Way to Sell a Car in Ontario
If you are looking for a fast and safe way to sell your used car, then you should consider selling your used car through a local dealership.
The dealership is going first to assess the current fair market value of the car, and based on that appraisal, they will make a firm, cash offer on the vehicle.
You do not have to take the offer, but should you accept it, you get paid immediately and do not have to deal with any of the risks that come with trying to sell the used car on your own.
Now that you know what is involved with selling a used car, you can reach out to your local dealership and see what they are willing to pay today for your used car.
Used car prices could drop at any time, so be sure to call the dealership right away.
If you're ready to sell your car in Southern Ontario, we'd love to help with that! simply fill in the form below to get started.
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