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Mistakes People Make when Selling a Car

Mistakes People Make when Selling a Car

There are some critical mistakes people make when selling a car. If you follow this outline, you should have no issues selling your used car.


The used car market is very active with cars being purchased in a matter of days.


Paperwork needed when selling a used car in Ontario


There is some crucial paperwork you need to have in place before selling a used car in Ontario. Download the used car sales kit approved by the government, if you don’t have this kit, your sale may not be registered by the government.


On the subject of paperwork, are there any active liens on the car? If there are still outstanding loans on the car, you will need to pay those debts off before listing your car for sale.


You could try to sell your used car with an active lien but that would not be smart, prospective buyers would not make an offer on a vehicle with an active lien; it adds complexity to a deal that buyers don’t want.


Another set of documents you should consolidate is the service record of the car. Every time you had work done on the car, there will be a receipt for it. By getting all of these documents in one place, the prospective buyer will be able to review it all. These documents help give you negotiating power when discussing prices with the buyer.


How to find good quality buyers


This is where most first-time used car sellers make a mistake. The best place to advertise your used car is on platforms that are used solely for used vehicles.


AutoTrader and Kijiji Autos are very popular in Canada.


We cannot stress the important of not advertising your used car on social media.


Websites like Facebook, Instagram, and TikTok are very popular with people wanting to sell clothing and other simple items, social media is not the place you want to advertise a used car.


The people who are using social media may not have the cash on hand to pay your asking price.


Most of the people on these websites will come to you with lowball offers or ask you to wait some time while they try to raise the funds. Another drawback with social media is the number of scams that take place on these platforms.


We covered some of the most common mistakes people make selling a car online. One of the best things you can do is bring your used car to dealerships in your community.


The dealership is able to do appraisals right away and let you know what they are willing to pay for the car. The price is going to be lower than the full fair market value of your vehicle, but it will be fair and you don’t have any risk associated with the transaction.


If you made it this far in the conversation, why not bring your car in for an appraisal, you will be happy and so will the dealership.


We’d love to help you find the perfect car loan. Simply fill in the form below and we’ll get back to you ASAP! 


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    Categories: Sell Your Car