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Used car selling strategies that actually work

Used car selling strategies that actually work

If the thought of selling a car makes you feel anxious, there are some tips that will make your life easier. The good news is you will be able to sell your used car, demand for cars is growing month over month.

Since we are on the tail end of the pandemic, people are traveling more and need a car to drive. There is also a shortage of new cars so like all markets, when there is a spike in demand, prices also rise.

You may think that you will get more than what your car is worth, who doesn’t dream of that but you need to temper your expectations. While you should get a fair price, it helps to do some homework to figure out what is actually “fair”.

Determining what your used car is currently worth

There is no exact process that individuals can use when trying to figure out what their car is worth, you could have your car professionally appraised but we will discuss that later.

You can visit AutoTrader and Kelly Blue Book to get some insight on what similar cars are being sold for, but you have to factor in the location of the car and whether the price seems legitimate.

If you ask for too much, the number of buyers who are willing to pay that amount will be reduced. On the other hand, if you list the car with a very low price then prospective buyers will either think it is a scam or there is something wrong with the car.

Try to figure out what the average price is for a similar car and use that as your baseline. It would be smart to also look at where you are located, if you are living in an area where there is a large population like the GTA, then you have a larger pool of potential buyers.

Having the right documentation

You will need to prepare some documentation before you can sell your car. The first thing is having the lien release from the company that financed the purchase.  When you bought the car, it was financed and the company that provided the loan would have a lien registered against the car.

When you paid the loan off, the lender would have issued a loan release document, if you cannot find it, you should call the lender for a copy of the lien release. You must show you own the car free and clear, otherwise no serious buyer will make an offer to buy your car.

Quickest way to sell your used car

If you want a really quick way to sell your used car without any hassles, your best option is visiting your local dealership.

The dealership is always looking to buy cars and has the cash available to pay you right away, if you accept their offer. The offer that you receive from the dealership is going to be less than the full price you are asking, the dealership is going to resell the car for a profit so they need some margin.

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