With back to school right around the corner, you might be needing some extra money to spruce up your apartment or pay rent. If you own a car that you barely ever use, selling it is a great way to make some quick cash. Of course, you obviously want to know what you're getting into and be well prepared, so that you don't end up getting shortchanged in the process.
Here are the key things you need to know to sell your car and get the most out of the transaction!
1. Gather all your documents
Be transparent: Gather all documents pertaining to your vehicle, including your purchase agreement, warranty and maintenance guide, and any repair receipts. Presenting all these important documents to a potential buyer lets them know that you've covered all your bases and have everything in order. Plus, it's always a smart idea to show receipts that prove all the money you've invested in upgrading your car (like those cool chrome rims you added on, perhaps?). Make sure to always remain honest because buyers can do their own fact-checking with CARFAX Canada or the Register of Personal and Movable Real Rights to make sure everything you're saying is true.
2. Get your car ready
Time to deep-clean your vehicle! The last thing you'd want is for a potential buyer to be grossed out by all the dog hair stuck on the seats, or the crumbs of chips and soft drink cups lying around since your last road trip to Ottawa. Be sure to visit a car wash and vacuum inside your car. This is also the perfect time to fix all the little things that could decrease the value of your car (scratches, cracked bumpers, etc.)
3. Get your car inspected and appraised
To know the value of your car, you need to get it inspected by a professional. They'll certify the condition of your vehicle in a written report and will give you an appraised value. If you're the type to name your beloved car, you might be inclined to overestimate its worth, so it's good to know what you can actually expect to get for it. You can even check out websites like HGrégoire to get a basic estimate in just a few clicks!
4. Decide between selling your car yourself or through a dealership
Which to choose? That's the big question! On one hand, people often feel more comfortable buying from a car dealership, plus you can get your money quickly. You can also decide to sell your car on your own. Sure, you might make a bit more money, but you'll have to take care of all the paperwork and beware of all the risks involved in selling to a complete stranger. Either way, you'll have to brush up on your negotiation skills! To save yourself loads of time and headaches, we recommend selling your car with HGrégoire. Not only is it easy and simple, but they also have dealerships all over Quebec!
5. Draw up a contract
Whether you're selling through a dealership or doing it all yourself, you always need a proper contract. A dealer will definitely provide you with one; otherwise, you can download a contract online. Make sure to carefully fill it out and specify that you're selling without "warranty against hidden defects" to avoid any possible legal issues later on.
6. Get paid
Finally, you've found someone who wants to purchase your vehicle! Don't be shy to ask for a non-refundable deposit to make sure this person is a serious buyer. As for the final payment, you can opt for a money transfer, a certified cheque or cash. Thing is, getting paid isn't always so hassle-free when selling a car to someone yourself. Sometimes, people are looking to exchange cars, give you post-dated cheques or want to make multiple payments. The simplest, quickest way to get your cash is by selling to HGrégoire; you'll receive your payment the same day!