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The Risks of Selling a Car Privately in Hamilton

The Risks of Selling a Car Privately in Hamilton

The vast majority of private car sales are safe, seamless experiences with no risk and no negative outcomes. However, enough private sales go wrong to make it worth highlighting the risks you might face when selling your car. We asked our Hamilton auto loans team to outline a few of the risks of selling a car privately instead of selling to a dealership.

 

Test pilots and tire kickers

 

Tire kickers aren’t usually a risk, more a waste of time. But if they use the viewing as an excuse to scope out your property, that’s a different story altogether.

 

Test pilots on the other hand, can be a risk. If you’re selling a performance or sports car, they are just there to spend an hour driving your car. Perhaps without the skill or experience to handle the power.

 

Strangers around your home

 

The majority of tire kickers are just bored and want a little entertainment at your expense. Some are there for more nefarious reasons. To scope out your property, to see what you have in your garage, to look at what security you have around your yard or home.

 

We might be a sociable nation but we don’t want strangers poking their noses into our business or our home. Especially if they are there for reasons other than buying the car!

 

Carjacking or theft

 

Carjackings during test drives are more common in the US rather than Canada but they do happen. That’s why we often recommend taking the keys with you when you switch seats during a test drive.

 

We also suggest having a friend follow you during the test drive if you’re selling a valuable or desirable car. While the chances of it happening are low, it can still happen so you should mitigate against it.

 

Payment scams during car sales

 

There are multiple types of payment scams related to car sales. Fake cheques, fake bankers’ cheques, PayPal money reversals, Western Union scams, credit card scams, fake cash and numerous other risks have to be mitigated against when selling anything.

 

The safest method of payment right now is bank transfer. You could use a banker’s cheque but would need to go to the buyer’s bank and watch them draw the cheque. The they would need to follow you to deposit it to make sure they are protected too.

 

Otherwise, use a bank transfer without handing over the keys until you receive cleared funds is the safest way to avoid payment scams.

 

Avoid all the risks of selling your car

 

Sell your car to a dealership and you’ll avoid all the risks of selling a car privately. We will reiterate that the majority of private sales go perfectly well, but not all do.

 

Sell your car to a dealership and you’re guaranteed a seamless experience. No risk, no tire kicking, no fake cheques. A simple, transparent process with a bank transfer direct to your account afterwards.

 

Considering what else is involved in selling a car privately, we think it makes the most sense!

 

We will use all our skill and experience to deliver the lowest possible Hamilton auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.

 

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