Selling a car privately will take you a little more time and effort, but that time and effort will likely earn you hundreds, or even thousands of dollars
Setting Your Price
Writing Your Ad
Preparing for the Sale
Documents
Dealing with Buyers
Deposits
Negotiating
Paperwork
Make your ad more attractive to buyers by setting a competitive price that reflects the real value of your vehicle. To set the right price:
Go online at AutoTrader.ca, click on “Value Finder” and find out what other people are asking for your year, make and model, or flip through Auto Trader magazine.
Consider the mileage, condition and options of your vehicle.
Factor in what you’ve spent on vehicle maintenance. If you have records showing new parts and regular tune ups, you may be able to increase your asking price.
If you have an extended warranty on your car, check to see if it’s transferable. If so, you may be able to ask for more money than a similar car with no warranty.
Leave some room to haggle –used car buyers will negotiate with you.
Visit AutoTrader.ca's Value Finder
You’ll want to attract potential buyers by giving them all the specs and highlights of your vehicle. Make sure the ad is accurate and truthful.
Be sure to include these items in your ad:
Make, model and model extension
Year and mileage to the nearest 1,000 km
Engine capacity
Your hometown (e.g. Newmarket)
Price
A phone number where you can be reached while the ad is running
Other Suggestions:
Any power options, like windows, locks, seats etc.
Air conditioning
Service history or # of owners
Condition
Warranty
If you have a digital photo and a valid credit card, you can place your ad online right now or, call us at 1-800-268-2938 and a customer service representative will help you to place your ad. We can even arrange to take a photo of the vehicle for you.
Spending some time and effort on your car can increase the amount buyers are willing to pay. Even if your car is in excellent working condition, little things can turn buyers off. If you don’t want to undertake the clean up yourself, you can get the car professionally detailed for about $100. Show it to its best advantage for maximum results:
First impressions count – make sure your vehicle is thoroughly cleaned, inside and out
Be sure to vacuum the trunk, wash the tires and remove all personal belongings from storage areas
Clean the glass, inside and out, and clean all mirrors
Clean the engine with a de-greasing agent - most buyers will want to look under the hood
Make sure all fluids are topped up and the tire pressure is at the correct level.
If carpeting is worn or stained, you may want to invest in new mats
Private sellers must provide an Ontario Used Vehicle Information Package (UVIP) to buyers. This package allows prospective buyers to check the car’s history, liens, sales tax requirements and wholesale and retail values. It also makes completing the sale and transferring ownership easier. You can get a UVIP for $20.00 at any Driver and Vehicle Licence Issuing Office, or online at http://www.mto.gov.on.ca or call 1-800-267-8847
Write down the year, VIN, mileage, model, model extension, colour and a brief history including how many owners the car has had, where and when you bought it and why you’re selling it. Keep this info by the phone for easy access when prospects call
You are not legally required to provide a Safety Standards Certificate, but buyers may be concerned that the car will pass. If you bought the car used and had a safety inspection done, the vehicle’s last signed S.S.C may be helpful to some buyers. The Safety Standards Certificate is only valid for 36 days from the date of inspection.
When prospects call, be honest about any issues with the car, and all of its features. You’ll save yourself a lot of time by making sure anyone who makes an appointment with you knows all of the details, and is still interested in buying.
Make sure you set specific appointment times, and ask for a phone number where the person can be reached.
You may want to have someone with you for safety when prospective buyers come to see the car, and to go on the test drive with you – never let someone take your car for a drive on their own
Ask to see their driver’s license – if they don’t have one, they have no business driving your car
Schedule appointments when you have enough time to talk to the buyer and allow them to take their time with the inspection and test drive. A buyer who feels rushed might be reluctant to deal with you.
While buyers are evaluating the vehicle, they’ll also be thinking about whether or not they feel comfortable negotiating with you, and trusting you. Be as open and honest as possible, and make buyers feel at ease. Remember that you’re asking them to make a big financial decision.
Buyers will want to look at the car during daylight hours, so be prepared to invest some time on the weekends to sell your car.
Prepare your “commercial” for the car – be prepared to talk about the car’s good points and its history
If the buyer wants to take it to a mechanic, don’t be concerned – this is a sign of a serious buyer, and it is the buyer’s responsibility to pay for the inspection. Be sure to go along, or if you don’t go, check out any claims that seem unlikely.
If a prospect wants some time to think about buying, you may agree to hold the car for 1-2 days, with a deposit. Ask for $100, and provide a receipt. If they don’t buy, you can keep the cash in exchange for keeping the car off the market. If they do buy the car, you will be expected to subtract the deposit from the final selling price.
While you are holding the car, keep the phone numbers of any callers – you may want to contact them if your prospect doesn’t close the deal
Buyers will expect to negotiate with you. Know what the minimum price you’ll accept for the car is, but don’t reveal this information
Don’t negotiate until the buyer makes a serious offer. They’ll likely start at the wholesale price for the car, and you can explain that you expect to get more because of the way you have maintained the vehicle etc.
Don’t be desperate to sell – give the impression that you can wait for the best offer
Get full payment, and don’t accept a personal cheque. Ask for a certified cheque, or cash
Sign the bill of sale portion of the Used Vehicle Information Package and record the date and selling price.
Take your license plates off the vehicle – in Ontario, plates stay with the driver, not the car.
Call your insurance company and arrange to have coverage of the vehicle cancelled on the day the buyer picks up the car.
Complete and sign the Application for Transfer located on the "vehicle portion" of the registration permit.
Give the entire Used Vehicle Information Package and the "vehicle portion" of the registration permit to the buyer.
Keep the "plate portion" of the registration permit for your own use.
