9 KEYS TO SUCCESSFUL SELLING YOUR USED CARS.-TIPS FOR SMART MINDS.
To Sell your privately owned car isn’t as simple as posting a classified ad on the internet. This because unlike other individual personal items the car has safety regulations and ownership transfer procedures.
Hence there is necessity to follow trending vital steps immediately the intention to dispose of your car comes up.
This article features each detail steps to take and you can thank us later.
The best place to get healthy and hygienically processed meat. CALL THE MEAT HOUSE NOW ON 416 740 6328
⦁ Market survey and pricing comparison.
Let’s assume that you have a Toyota Camry SE 2008 and you want to know what the present car worth is in 2019.The best step is to look up your specific year, make and model on various auto dealer websites, social media Market spaces and classified ad sites to see what they are selling for. Take into consideration your cars’ mileage and present engine condition and overall cosmetic, trim level, special features plus any improvements/modifications or issues. Note that most dealerships will sell a vehicle for slightly more than a private seller because they can back it with an extended warranty and peace of mind and not only that they have to pay for office space and car custody expenses.
By doing this will also identify how many vehicles like yours are currently available for sale in your area.
⦁ Make sure to clean the car.
Whatever the case may be to ensure you sell to get maximum value or Cash, take your time to thoroughly wash the car. Your cleaned car will show better in photos and this makes a big difference when an interested client comes to look at the car and it’s clean and presentable. The cleaning here is not just washing the body but focusing on removing all clutter from the interior, vacuum and surface dressing. If you don’t have the time to thoroughly clean the vehicle, then pay to have an auto car wash do the work.
RELATED: Find out more about My Hearing with MC Morris-August 25th, 2019
- Knowing your Cars service history.
Has your car been well maintained? Do you have the service History? Maybe you’re not the original owner and don’t know the complete history of the car you’re trying to sell. To sell at good price you must know as much as you can about the vehicles’ mechanical history so you can confidently answer questions that will come up from prospective buyers. Have service records available that show that routine and preventative maintenance, warranty work, recalls and repairs were performed at appropriate intervals. This will help you sell the car with confidence and reduce low-ball offers due to buyer concerns and this can be gotten from your auto service shops.
⦁ Mechanical inspection for safety and Emission Test.
Should your vehicle no longer has a warranty it is a good idea to have a mechanic inspect the vehicle to advise you of any problems or future issues that may come into question through the selling process. In order for a used vehicle to be licensed for road use in Canada, it has to pass a safety inspection performed by a licensed mechanic. As a seller it is important to know if your car will “pass safety.” The certificate costs on average $100 or an hour of labor time plus any necessary repairs.
By law, some light duty vehicles must pass a Drive Clean emission test before they can be licensed and driven on the road. Generally, you need to get the test every two years, once the vehicle is seven years old. Used vehicles require a valid Drive Clean test pass when they are sold in order to transfer the ownership if the model year is older than the current year. A pass report is good for one year. A test is not needed if you are transferring a vehicle to your spouse or it is a hybrid vehicle or a light duty vehicle model year 1987 or older.
Getting either the Safety Standards Certificate or Drive Clean test can be the responsibility of either buyer or seller. If you are confident that it will not take any (or much) repairs for your car to pass safety and E-test, then offering it for sale as “certified and E-tested” will enable you to sell it quicker and for maximum value compared to “as is.”
The safety is valid for just 36 days.
RELATED: Find out more about Iyameto Fun Fair 2019
- Second Hand Car Information for private sales
In Ontario to be precise it is compulsory for a private seller to obtain a Used Vehicle Information Package (UVIP) from the Ministry of Transportation (MTO) and show it to interested parties. The package costs just $20. The document has five sections. Section 1 gives a wholesale and retail value which is the average price range for the year, make and model, not taking into consideration condition, mileage and options. Section 2 shows the current registrant, the date they took ownership and the last registered odometer reading (usually when they renew a license plate sticker). Section 3 shows the Ontario vehicle history listing previous owners and registration dates. Section 4 shows if there are any liens on the vehicle. The lien (such as dealership financing) should be cleared before the new owner takes possession. Section 5 is the bill of sale portion that must be completed by the buyer and seller with the selling price. I suggest if you sell the car to a stranger, to protect yourself from any legal liability once the vehicle has left your possession, register it as sold (with the MTO) in case the buyer is delinquent in transferring the ownership, this is very important.
- Pricing and negotiation
Always set your asking price to allow room for negotiation. For example, if you intend to sell at $7,000 for your 2007 Toyota Camry in average mechanical condition with average mileage less than 100,000 km, list it for $8,000 and you will likely end up selling it for around $7,000. With any common vehicle, the sale price will be negotiated down from the asking price. Also, bear in mind that the buyer has to pay sales tax (HST) to the Ministry of Transportation when they transfer ownership.
If you are trading your car into a dealership, you will generally get less value for it than selling it privately. This is simply because the dealership will need to invest money in the vehicle to recondition it and allow room for a profit. This is one reason why a lot of people go through the effort to sell a car privately.
- Marketing/Advertisement for Car sale
Now most private automobile buyers and sellers turn to the worldwide web on internet as their primary meeting point. It is still fine to use these traditional means of advertising example labeling the car and parking by the drive way, but also list your car for sale on popular classified websites such as Facebook market place, let go app, kijiji etc. Include a detailed description of the car and post photos of the interior, engine, trunk and exterior from different angles. This will help reduce the number of routine questions and help sell your car quickly.
- Expected questions
When listing your used vehicle to prospective buyers anticipate how you will answer the following questions: Does it leak or burn oil? Is it reliable, why are you selling it? Has it ever been in an accident? Are there any mechanical problems? does it ever not start? Can I see the service records? What will it take to pass safety or emissions test?
Being able to confidently respond to these questions will gain the trust and confidence of the other party.
- Sealing the sale
Once a deal is sealed, the best payment options when selling to a buyer are cash or certified cheque/bank draft. You need to complete the transfer of ownership portion and record the mileage, the buyers name and address and both parties must sign and date the transfer of ownership. The seller keeps the plate portion in order to return the license plates to the MTO for a partial refund or register the plates to another vehicle. Both parties must also sign the bill of sale portion of the UVIP.
And there you go.