Selling a Used Car in Ontario: Our 500 Word Guide
Selling a Used Car in Ontario: Our 500 Word Guide
Posted on February 11, 2023
We have put together a detailed list of the things you should do and not do when you sell a used car in Ontario. There are not in any specific order, but we have kept them simple to follow, so you should be able to make the most of your used car selling experience.
Do order the authorized used car sales kit from the Ontario Government. This kit costs $20, but it is necessary to facilitate the transfer of ownership from you to the new owner, and without it, the sale cannot go through.
After the kit has been ordered, it will take a few days for it to arrive in the mail. This gives you some time to do your prep work. Do not just pick some random price when you advertise your used car. The used car market is red-hot, which is good news for you, provided you use the right pricing model.
The recommended way to establish the asking price for your used car is to get a list of 10 comparables from AutoTrader or Kijiji (be sure to use a similar area of Ontario).
Take all of the prices and average them out, now use that price as your starting point. The reasoning behind this approach, if your asking price is too high, you will not get any offers, and if the price is low, the buyers may presume there is something wrong with the car, or it is a scam.
When you use the middle-of-the-road pricing structure, you should be able to get some offers.
Do create a visually appealing advertisement
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You will need to create a visually appealing advertisement, to catch the attention of as many prospective buyers as possible.
The way you do this is to use high-definition videos and photos of your car; the more detail you can provide, the better. We should mention clean and wax your car before you start taking the photos.
Since you are waiting for the sales kit to come in the mail, you will have plenty of time to complete these tasks.
Don’t list your used car on social media
Initially, we were fans of social media. Still, there are too many scams being committed, and the number of qualified buyers that use social media is not worth the risks. You should focus your advertisements on platforms that are geared towards car buyers and sellers.
Do consider taking the easier path
One of the easiest ways you can sell a used car in Ontario and get paid fast is the dealership approach. Your local dealerships are always looking to buy cars for their lot and will give you a competitive offer.
What makes these dealerships appealing is their ability to pay cash fast and their no-nonsense approach.
This is one of the best-kept secrets in the used car industry; instead of trying to reinvent the wheel yourself, just bring your used car to a local dealership and get paid today. You will be happy you took the initiative and followed these tips.
If you're ready to sell your car in Southern Ontario, we'd love to buy it! simply fill in the form below to get started.