If you're Going to Sell a Car in Guelph, Do it Soon

If you're Going to Sell a Car in Guelph, Do it Soon

Posted on April 1, 2022

If you have been deliberating on the right time to sell a car in Guelph, now would be that time! The used car market has experienced unprecedented growth, which would continue well into 2022.

Still, we are experiencing a black swan event of sorts, as our Guelph auto loans team explains.

The situation in Europe is wreaking havoc on the oil markets

The global economy as a whole is on pins and needs; Russia is a cold war superpower, and what is taken place in Ukraine has led to harsh economic sanctions.

These sanctions are causing a cascade of financial defaults from Russia that will spill over into the global economy.

One of the casualties of this altercation is the oil market; in Canada, the price of gas is now more than $2.00 per liter, and we have a tremendous reserve of oil in Canada.

As a result, governments are being forced to cut their tax revenue generated by petroleum sales as a stop-gap solution, but the relief is modest and temporary at best.

These high fuel prices are forcing Canadians to rethink their car-buying decisions, and instead of buying a gas-powered vehicle, they are opting for hybrid or all-electric vehicles.

This shift in demand will start to bring down used car prices, so you need to seize this opportunity before you miss out.

Finding the right pricing point for your used car

This step is one you need to approach delicately, you naturally want to maximize the amount of cash you can generate from the sale, but timing is critical.

If you hold out hoping you get top-dollar for your car, you may not get any suitable offers at all.

A good strategy is to price your vehicle in the middle with other similar vehicles; you may be able to get multiple offers which leads to a bidding war, but worst case, you still get some offers.

Find the best places to list your used car for sale

Steer clear of Facebook Marketplace and other websites not focused on vehicles. These platforms do attract potential customers.

However, the majority of these “buyers” are not actively looking to buy a car. Instead, give priority to listing your vehicle on AutoTrader and Kijiji Autos; these platforms are well-established and should attract enough potential buyers for you to get a competitive offer.

A more efficient way to sell a car car in Guelph fast

There is a more efficient way you can sell your used car fast and requires virtually no effort on your end.

You just bring the vehicle to your local car dealership and sell it to them. The dealership would appraise the car to determine the current fair market value and, based on that make an all-cash offer.

If you accept the offer, you leave the dealership with cash. Given all of the uncertainty being experienced in the world right now, having access to quick cash by selling your used car will give you some much-needed peace of mind, so head over to the dealership today and get that appraisal completed.

If you’re looking to sell a car in Guelph, we’d love to buy it for a great price! Simply fill in the form below and we’ll get back to you ASAP! 

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