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Simple rules to follow when selling a used car

Simple rules to follow when selling a used car

To be successful at sales, you need practice. Since most of us are not professional used car sales experts, we have put together these simple rules that are going to help make your life easier.

Location location location

Like real estate, selling used cars is influenced by your location. The price you can charge for your used car will vary depending on where in Canada you are located.

You will have a much easier time finding a customer willing to pay a premium in a major city like Toronto than what you would find if you lived in Winnipeg. If you are living in a more rural area, you will have to modify your expectations if you want to stand a chance of selling your used car fast.

The used car market is on fire

There is no denying that the used car market is experiencing a bump in demand. The pandemic has forced consumers to postpone major purchases like a new car but now that we can see the light at the end of the pandemic tunnel, consumers are trying to make up for the lost time.

Establishing the current value of your car

Pricing a used car is more of an art than an exact science. You need to select a pricing point that is fair to you but also seems like a good deal to prospective buyers.

You can use websites like Kelly Blue Book to find out what the average market price is for your car. What you do is take the highest and lowest priced cars, add their prices then divide by two, this will give you an approximate ballpark value.

Are you able to sell your car?

When you have determined the asking price of your car, it would be smart to make sure you are legally able to sell the used car before doing anything else.

There are people who sell their used cars without first making sure there are no liens on the vehicle. When the new car buyer tries to register the vehicle in their name only to find out there is an unpaid lien!

When you bought your vehicle, the lender put a lien on the car. If the loan has been repaid in full, the lien should have been removed. You should have received a letter from the lender stating the loan has been repaid in full.

If you cannot find this document, call the lender and get a copy of the lien release mailed to you.

Shortcut to selling your used car quickly

There is a shortcut if you are in a hurry and want to get paid a fair price for your car. Head over to your local used car dealership and find out what they are willing to pay for your car. The dealership will let you know what your car is actually worth and get paid right away if you accept their offer.

The dealership will resell your car so they need a profit margin but they are able to pay you right away. Now that you know about this shortcut, you can save yourself a huge amount of time by heading over to your local dealership now.

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