CA
US
Selling your car yourself takes a lot more work than just driving to the dealership for a trade-in but selling it on your own will get you a higher price than trading it in. However, you’ll have to go through the hassle of advertising, taking phone calls, and showing the car.
Prepare the Documents
Ready the important papers and keep them in mind. Anticipate the questions that your prospective buyers will ask and be prepared to give the appropriate response. It will help you get a good impression from potential buyers and will increase the possibility of you selling the car on a buyer’s first visit.
1. Get a Vehicle History Report
This helps increase confidence for potential buyers by proving that your car has a clean history and to be upfront about defects if any are found.
You can get a vehicle history report from VinAudit. VinAudit obtains data from official data sources and offers reports at an affordable cost. Use the car report to your advantage when convincing prospective buyers.
2. Prepare the maintenance and service records
Be ready to show this to the buyer so they would have a good understanding of the car’s condition. It will also back your claims of your car being in excellent condition.
3. Prepare ownership documents
The Bill of Sale, past registration and insurance documents will come in handy when you close the deal and your buyer asks for them. Be prepared to show the papers to validate ownership.
4. Secure a "release letter"
In case there’s a lien make sure to clear it first and secure a “Release letter” from the lender.
5. Understand your jurisdiction’s regulation
Requirements may differ from place to place. Ownership transfer can be as simple as filling up your registration form with basic details: the mileage, sale price, and your signature. Get in touch with your local registration agency for more details.
Price it Right
1. Use the internet
Visit sites such as CarCostCanada or Canadian Black Book for the current market value. Also eBay motors and Craigslist are good classified ad sites to compare similar cars.
2. Get an appraisal
Seek appraisal from experts that you can rely on like CarGurus Canada or autoTRADER.ca.
3. Consider your car’s condition
Be honest enough to consider the downsides of your car. Whether positive or negative, everything must be considered to come up with a price agreeable to both parties.
Effective Advertising
1. For sale banner on your car
Place an eye-catching banner on the window or other conspicuous part. The sign must contain the car’s most important info, such as the year, make, model, price and contact number.
2. Online classified ads
Post an ad and upload your car’s pictures on social media. Ask some of your Facebook friends who might be interested. You can also create a listing on sites like eBay Motors, autoTRADER.ca, and Craigslist.
3. Newspapers and local classifieds
Newspaper and local ads may belong to the old school, but these options remain effective even to this day. For a fee, you can secure a special section for your ad. This is a good approach if your car is more appealing to the older, less techie customer base.
Meeting Potential Buyers
1. Keep car details handy
Once you’ve placed your ads, make sure you keep your car’s specifications, mileage, and other particulars near your phone so you are ready to discuss provide the details right off the bat.
2. Screen potential buyers
You should pre-qualify prospective buyers. Ignore them if you feel that they have neither the money nor the interest to buy a car. Exercise precaution to keep you safe from those who have bad intentions.
3. Meet the buyer
Bring all the necessary documents that your buyer must look at. If possible, be with someone who can assist you. A vehicle registration office, where papers can be verified quickly, is a good place to discuss a car deal.
4. Show the car and test drive
As a security measure, keep the driver’s license before letting your buyer take out the car for testing. Set a time limit and assign specific places for test driving. Better yet, ride along with them, to better monitor their activity and entertain any queries at a moment’s notice.
Transfer of Ownership
The seller must surrender ownership documents to the new owner upon the completion of the sale. Once both parties agreed and everything else is settled, we can now move on to the next step: transferring ownership.
1. Apply for a new registration
Bring the registration and the Bill of Sale to the local registration office. The buyer must pay the required fees and taxes, and apply for new registration under his/her name. To avoid any misconception, the registration office may require the buyer’s identification. All papers must contain signatures from the buyer and seller.
2. Understand provincial/city regulations
The right way to transfer ownership will depend on your location. Some documents may only be permissible for some regions. Know what you must do ahead of time to avoid any delay. Contact your local vehicle registration agency for guidance and further instructions.
The most comprehensive Automotive Data & Analytics
- Automotive Market Trends & Insights
- White Papers & Researches
- Auto Market Analytics Articles