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Pro tips to follow when selling your used car in Canada

Pro tips to follow when selling your used car in Canada

If you are thinking about upgrading to a new car or just want to sell your existing car for cash, there has never been a better time. There is some legwork that you will need to do but it will be worth the effort.

Determining the fair market value of your used car

This step will take a little bit of research because there is no standardized pricing when it comes to used cars. What most first-time sellers do is look on Kelly Blue Book and AutoTrader for comparable models.

These websites are great when trying to work out a ballpark asking price but you need to take the prices with a grain of salt.

There are variables that impact the price of your used car, starting with where in Canada you are located. You are going to have an easier time finding a prospective buyer if you are in Toronto than someone in St. John’s Newfoundland where there is a smaller pool of prospective customers.

If you list your car for the maximum asking price, it could impact the total number of qualified offers you receive.

On the other end of the spectrum, if you ask for a low amount then potential buyers will think there is something wrong with the car and avoid it completely. Aim for somewhere in the middle which gives you the greatest chance of getting multiple competitive offers from interested buyers.

Finding interested buyers for your used car

This step is going to take some time, you may think that advertising your used car on social media would be the best place.

Truth is, social media would be a waste of your time and energy. Unless your car is destined for the scrapyard, you are not going to find qualified, serious buyers on social media.

What the buyers on social media will do is ask you a variety of questions, and then give you a lowball offer.

You will be tempted to try and debate why your car is worth more but that would be time wasted. These “buyers” were never really serious about paying a fair price and just wanted to try their luck.

Platforms like eBay and Copart may seem like good options and they work great for professional sellers.

Bear in mind you are competing with major organizations that have very deep advertising pockets, there is no way you are going to get your car in front of prospective sellers when going up against these pros.

Instead of dealing with all of the hassles that come with selling a car, why not delegate that to someone else. You should consider selling your used car to your local car dealership and bypass all the headaches.

The dealership is always interested in buying cars and they have the cash on hand to cut a check today. By going through a dealership, you get paid fast and can avoid the risk of being ripped off. Now that you know how to sell your car for quick cash, you should head over to your local dealership for a professional appraisal.

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