Why now is a good time to sell your used car?

By Kijiji Autos
Private seller handing over their used car keys.

methaphum - stock.adobe.com

The time has come: You're considering selling your car, or at least researching how much you can get for it (and free up your driveway in the process). Well, you're in luck—there has never been a better time to sell a used vehicle. Right now, Canada is experiencing a new vehicle shortage that has trickled down, boosting the value of preowned autos. With the market ripe for making the most bang for your buck, we have compiled this ultimate guide to sell your car. Below we cover all the essentials, including trade-in value, car value, where to sell a used car and used car advertisement examples. 

In the end, selling your vehicle is your choice. However, we do encourage you to research the value of your car, as there might have never been a better opportunity.

Understanding the market

When should you sell your car? As mentioned above, there is a new vehicle shortage in Canada and across the world. A global shortage of semiconductor microchips has slowed down the production of fresh-out-of-the-factory cars. As such, the value of preowned vehicles has inflated rapidly.

In fact, it is estimated that, on average, used cars are selling for 34% more than they were in 2021, according to Canadian Black Book. This does bring up the question: when will new vehicle shortage end? It's speculated that there will be a gradual recovery sometime near the end of 2022. So, again, it truly is the best time to sell your used car.

Trade-in or sell?

The first step is to consider whether to trade it in to add value towards your next vehicle or sell it independently. There are multiple factors to take into account: First of all, do you have another vehicle to drive, or will need a new one? Next, you've probably already asked yourself, “What is the trade in value of my car?” Thankfully, this can be found easily by utilizing a trade-in value estimator, which you can find on Kijiji Autos online financing listings. If trading in is not for you, then it's time to prepare your used car for sale.

Finding my used car’s value

How much does a used car sell for? This is likely your first question when trying to figure out how to sell a used car. Don’t worry–we're here to help you learn how to price your car to sell. Once again, Kijiji Autos has made this process seamless. The Kijiji Autos online financing listing help by giving you a trade-in value estimate online. This helpful page will walk you through every step of how to sell your car privately.

Additionally, you can narrow down the price range of your vehicle by browsing similar makes and models on Kijiji Autos' extensive listings and compare car prices.

Preparing a car for sale

Now it's time to get your car ready for sale. Before you take any photos or have strangers come to view the vehicle, you will want it to be sparkling clean. If you're wondering what to include when selling a car, only consider the necessities and attachments that came with the vehicle. Spare tires, car jacks and other items that came with the initial purchase should be included. Your phone chargers, loose change or other fallen items should be removed.

Listing a used car online

Of course, you'll want to know where to sell your car. Statistically speaking, it might be best to sell your car online instead of through word of mouth or print advertisements. Posting your listing on a site such as Kijiji Autos helps to ensure that more people can find your vehicle, increasing your chance of selling. It is invaluable to include high-quality photos showcasing the entire vehicle in your car listing.

Additionally, photos of the interior and dashboard can help negate further questions. As for what to fit within the text, check Kijiji Autos for a car ad description example. Researching a selling car ad example will help you note things that should be included to sell your car, including mileage, any required maintenance or body damage.

Interacting with potential buyers

Next will be interacting with the potential new owner of your vehicle. Be kind, courteous and honest about the car. Answer any potential questions with the best knowledge you have. Possible questions will likely involve previous drivers, previous maintenance, performance and mileage. If you sell your car in Ontario, it is almost expected that the potential driver is allowed to test drive the vehicle. Finally, stick to your estimated price range when it comes to negotiating a final price. Every one of us is trying our best to get the best bang for our dollar. You could avoid losing money by not falling too below your listing price.

Finalizing a sale of a used car

Congratulations, you found a buyer and negotiated a fair price! But before you hand over the keys, there are a few final Ts to cross. Of course, you're going to want to collect payment. But more importantly, it's your legal responsibility to transfer ownership. Each Canadian province has different regulations when it comes to ownership transfers. Make sure that you have the required documents on hand, including items such as a bill of sale, a used vehicle information package (UVIP) or a safety standard certificate. Again, these forms and requirements are unique to each province, and it's best to inquire into them either online or by calling the appropriate extensions. These are important checklist items to help cover you and the buyer.

Once you have finally sold your used car, it may be time for a new one. Thankfully, you can find your next new or used vehicle easily online by using the extensive catalogue of vehicles available at Kijiji Autos.

Easily find your next ride on Kijiji Autos

Search now
Related articles