How to Get Rid of your Car Quickly in Canada

How to Get Rid of your Car Quickly in Canada

Posted on October 22, 2021

Are you looking for a way to get rid of your car quickly and turn it into cash? There is an insatiable demand for used cars in the marketplace. The demand is intense so we are giving you some valuable insight so you can make a better-informed decision.

How old is the car?

The age of the vehicle has a direct impact on the value, if the vehicle is older than 10 years old then it may be a challenge to get rid of your car quickly.  Usually, a car that is over 10 years old or has more than 200,000 KMs on it, is classified as a junk car. We use the “usually” because the overall condition of the car comes into play.

Does the car drive?

If the car does not drive, you will need to explain why it doesn’t move. You have to disclose all known mechanical issues with the car to a prospective buyer.  Generally speaking, if the car does not move or start, you will not get top dollar for it.

Typically cars in this category are purchased as salvage based on their weight. You can still get some decent money for these cars.

There is a shortage of car parts so if your car is in high demand, there are businesses that will buy the car just for the parts. Some popular vehicles include Honda and Nissan which have a considerable amount of demand for spare parts.

Do you have the registration for the car and is the title clear?

No one wants to buy a car, especially if there is still money owed on it. If you do not have the title, you should get a copy so you will have it available when it comes time to sell the car.

Working on the premise that the car runs, is under 10 years old and you have the registration for it, you should get in touch with dealerships in your community.

The dealerships are always buying and selling cars, so when you reach out to them, they will be interested in exploring the opportunity.

These dealerships have access to real-time market pricing, what you find online with websites like Kelly Blue Book gives you a ballpark price range.

After compiling the quotes from the local dealerships, you can select the one that is going to give you the best deal. Something to think about, if you have not already considered is whether you want to use the trade-in value of your car to purchase a new one.

If you are using the car for its trade-in value, then you will be able to get even more money than what you would receive if it was strictly a cash sale.  The same loan underwriting guidelines would apply so you will need to have a good credit score and stable income that can be verified.

By selling to local dealerships, you help get the most bang for your buck and also keep money inside your local economy.  The next step is for you to pick up the phone and call the dealerships ASAP, you will be happy you made the effort.

For any questions, concerns, or inquiries. Please don’t hesitate to contact us here!

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