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Safest way to sell a used car in Canada

Safest way to sell a used car in Canada

If you are seriously thinking about selling your used car, these suggestions will help make the process safer.

The pandemic has normalized online shopping and now people are buying cars over the Internet. Since more people are shopping online, it has led to the proliferation of scams and we wanted to give you tips to stay safe.

Stay local stay safe

You could try selling your car on auction websites like eBay and Copart.

People are making money on these platforms but unless you are in the business of buying and selling cars professionally, this would not be a good option. There are fees you must pay upfront, even if the car does not sell.

Even if you are able to sell the car via an auction site like eBay, the buyer can simply say the car was not as describe, do a chargeback so you are out of the money and the car. There are scammers that prowl these auction sites looking for first time sellers.

You may consider using websites like Kijiji which is quite popular with people across Canada. What some scammers may do is reach out to you via your Kijiji advertisement and say they are interested in the car but cannot meet in person due to the pandemic.

This seems like a perfectly plausible excuse since we are all limiting our social interactions.

What this “buyer” will do is send you a payment either by Interac e*transfer or check via courier for the car. Once you receive the payment, the buyer would coordinate pick up of the car with one for their associates.

Again, everything seems perfectly legitimate because we buy things online without actually dealing with the buyer in person, everything is digital.

You deposit the payment and give the car to the associate thinking that everything is fine. A few weeks later, you notice your bank account is overdrawn because the payment you got from the “buyer” was drawn on a closed bank account or was completely fake. By the time your bank notices the issue, your car is long gone.

When you contact the police, they will say it is a civil case and nothing they can do to help. Your bank will not give you the money because in the fine print, you are ultimately responsible for all deposits, even those that are fraudulent.

To protect yourself from these scams, you must insist on being paid in cash or a bank draft from a local bank. If the buyer refuses then you should not deal with them.

One surefire way to avoid all of the risks that are associated with selling a used car is to bring your car to a local dealership. The dealership is always buying and selling cars, so you know they will be interested. The dealership is able to pay you in cash, so there is no risk of being disappointed.

If you are serious about selling your used car and don’t want any hassles, then you need to head over to your local car dealership and find out what they are willing to pay.

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Categories: sell your car