How to Sell a Car Fast in Canada
How to Sell a Car Fast in Canada
Posted on April 1, 2022
Most Canadians are not experienced when it comes to selling used cars, so they are more prone to make rookie mistakes. We are going to share with you some of the most effective strategies that you can leverage today to sell a car fast for a good price.
Getting Your Car in Showroom Worthy Condition
You are selling a used car, so you need to try and make it look as amazing as possible.
The first thing you will need to do is bring your vehicle to a car wash and clean it up. If you are too busy or just don’t want to do this step, you can find professional vehicle detailers in your area.
Having your vehicle detailed will make it look its best which should help command a higher asking price.
Documents Needed to Sell Your Car Fast
While you are having the car detailed, you can start organizing the documents for the sale. Has the original loan on the car been paid off? If the loan is still active, you will not be able to sell the car. Most prospective buyers consider active loans or liens on a car as an instant red flag.
One way to address this legitimate concern is to provide a copy of the lien release from the lender who issued the loan. This lien release shows potential buyers that there are no liens should they decide to make an offer.
Since we are talking about offers, have you given some thought on how much you are going to sell the car for? This is not a rhetorical question; the initial pricing point you pick will impact the number of offers you get.
If the price is too high and you will not get any offers, you could be stuck with lowball offers from insincere buyers if your price is too low. You will need to spend a little time comparing prices on various platforms to determine the fair market value of your vehicle.
You also need to take into account where you are located; sellers in rural areas have to charge a lower price than people in more urban areas because they do not have as many potential buyer
It's a Great Time to Sell
While Canada has tremendous natural resources, we are not immune from what happens in the global economy. Nato is trying to avoid world ward three by opting to use economic sanctions to try and make Russia stop.
The issue with economic sanctions against a superpower is their ability to circumvent them, especially with the help of China next door.
You are probably wondering what does geopolitical issues have to do with you selling a car?
Well, it impacts a few very important things. First, the used car market is fuelled not just by Canadians but buyers from all over the world.
Developing countries in Africa, for example, are buying used cars from Canada to meet the needs of their growing middle-class.
Russia is going to default on some major debts very soon; when that happens, investors' risk appetite is going to shift to things that are more secure like gold, U.S. Dollars, and for some, Bitcoin.
As a result, investments in Africa may slow down and with it the demand for used cars from countries like Canada.
The domestic used car market in Canada was very strong due to a lack of new cars being produced. However, people who were originally thinking about buying a used one are now rethinking that strategy.
Gas prices are soaring, and with the altercation in Europe not going to stop any time soon, these prices are going to rise.
It has gotten so bad the provincial governments in most provinces are waiving their fuel excess taxes as a means of relief for drivers.
Canadians that can afford to buy an all-electric (EV) are opting to do so, leaving those who cannot afford an all-electric with either buying a used car or taking public transit.
Unfortunately, public transit is not an option for most Canadians, so they are forced to buy a used car.
Fastest Way to Sell a Car in Canada
You could put your used car up for sale on AutoTrader, which is a great way to sell your used car.
However, there is no guarantee that you will get suitable offers, and there are people who will just waste your time with lowball offers.
Another, the more direct path is bringing your vehicle to a local dealership. The dealership is constantly looking for inventory they can sell, and this is a great way for you to avoid all of the challenges that come with selling the used car on your own.
Now that you know the easiest way to sell your used car for quick cash, you should head over to the dealership today. Unfortunately, the used car market can change rapidly, and the longer you wait, the less money you may be able to get for your used car.
If you’re looking to sell a car fast for a good price, we’d love to buy it! Simply fill in the form below and we’ll get back to you ASAP.