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Don't do this when Selling your Used Car

Don't do this when Selling your Used Car

If you are a professional used car salesperson, these tips probably won’t impress you. However, if you are like most people selling your used car is not something you are familiar with.


Our goal is by the time you reach the end of this article (it is pretty brief, and we promise you will benefit from it), selling your used car will be a breeze.


What is your used car worth?


This is a tough question; you walk into a Tim Horton’s and ask 100 people what your car is worth. You will get 100 different answers; we use Tim Horton’s because nothing is more Canadian than this coffee chain.


Pricing out your used car is more of an art than an exact science. You need to price your used car, so there is a margin for negotiations. We call this “wiggle room” because you aren’t likely to get your full asking price.


There are different theories about establishing a fair market price for your vehicle, but this one seems to be the most straightforward. Use websites like AutoTrader and find out what comparable cars are selling for in the same area as you. Canada is a massive country, and your geographic location impacts the price you can ask for your used car.


After you have compiled a list of similar vehicles and their pricing, you can average out the asking prices, which is the starting price for your used car.


This price is not set in stone; the used car market is experiencing incredible demand, so you may be able to start a bidding war if your asking price is attractive to multiple buyers.


Never deal with out of province buyers


This may seem a little harsh, but numerous scams are being perpetrated online, and the only surefire way to protect yourself is to not bother with them at all. While meeting with prospective buyers in person will reduce the risk of being scammed somewhat, you are not in the clear.


Never take personal checks from prospective buyers; there is a risk the check is no good. Only take a bank draft from a local bank or cash. If the buyer is legitimate, they should have no issues with this request.


The easiest way to sell your used car for fast cash


The easiest way to sell your used car for fast cash is by going through a dealership. Your local car dealership is always on the lookout for inventory.


So, what you do is bring your car in for an appraisal which takes a few minutes to complete. After the appraisal has been completed, you will receive a fair market value offer for your car.


If you accept the offer, which most people do, you will get paid immediately. This method is the quickest way to sell your used car, but keep in mind the dealership will need to resell the car for a profit, so they cannot give you the vehicle's full value.


By following the suggestions that we outlined, you will be able to get cash for your used car, so why not reach out to the dealership now?


If you’re selling your used car, we’d love to buy it for a great price! Simply fill in the form below and we’ll get back to you ASAP! 


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