There are many reasons you might want to sell your car, but whatever the reason, it can be difficult to choose the right avenue through which to complete the sale. Should you do a private sale, advertising and showing the car yourself? Or maybe selling to a dealer would be a preferable option? In today’s blog, we’d like to make the case for the latter, and explain the many advantages that come with selling to a dealer.
Here at CarTradeGo we help people sell their cars to dealers in fast, smooth, hassle-free transactions that really helps take the headache out of selling your car. When people choose a platform like ours, or another way to sell to dealers, they do say to take advantage of the following.
- When you sell to a dealer, the speed at which can happen can be dizzyingly fast. You can complete the entire transaction in a flash.
If you’ve ever tried to sell a car privately, you can instantly appreciate the rapid speed that is on offer when selling your car to a dealership instead. Doing a private sale means preparing information on your car to write your own listing, which you then have to upload to whichever platform(s) on which you wish to advertise the vehicle.
You’ll also have to detail the car and then get as many high-resolution photos of the car’s exterior and interior as possible. You might even have to make your own “walkaround” video where you showcase the car’s features that way. It all costs you one precious commodity: time.
Depending on how much traffic there is on the platform you use, it could take days to get a response to your classified ad, after which there may be further requests for photos or information. They may then want to see the car in person, test it, have it inspected, and so on. You could have an interested buyer on the hook for a week or more before they finally decide they don’t want it anyway.
When you sell to dealers, the exact opposite is the case. The dealers either want it or not — they invariably do. They offer a price, they check the car to make sure it’s as you described when getting the quote, and then cut you a cheque. If you sell it through an app like CarTradeGo, it can go even fast using our special auction format.
- Dealers know the process of acquiring a vehicle for resale like the back of their hand. They can use that knowledge to help you along and make it all painless and straightforward.
Selling your car privately involves preparing quite a few documents and other things for the buyer in advance. For instance, you have to ensure you have a vehicle safety certification, as well as a correctly completed Application for Transfer, which is connected to the ownership document. You also need a bill of sale, and other documents in the Used Vehicle Information Package.
Getting something wrong along the way just causes delays, misunderstandings, and even disputes with buyers. Dealers’ knowledge of the process becomes invaluable here as it helps to make it all simpler and easier to get through without any mistakes.
- When selling your car to a dealership as a trade-in, you can make tax savings for the new car for which you’re trading.
When you sell your car to a dealership in Ontario as part of a trade-in, there are even tax benefits that one can enjoy. Let’s say you have a vehicle that the dealer has said they’d be willing to pay $7,000 for. That’s a pretty good price, in your mind, and will work as a great trade-in for the brand-new $32,000 model you’re seeing at the dealership.
So, you trade-in your old car as part of the deal to buy the new car, bringing the price down to $25,000 in total. If you’ve done that trade-in, then you’ll only pay tax on the lower sum of $25,000 and not on the original sales price of the vehicle.
Some might point out that you’d get more money if you sold it privately, but when you factor in those 2 key points that you save on sales tax for your new car, and you complete the transaction rapidly and smoothly, then the premium you might have paid turns out to be quite small after all.
In this section, we’ll deal with the many different ways that one can sell to a dealership. You may have thought the channels were limited, but in fact you now have more choice than ever when you want to sell your car to a dealer.
- CarTradeGo provides a hassle-free auction platform to help your car move quickly and for a great price.
CarTradeGo has become a trusted go-to resource for so many car dealers in Ontario. When dealers need to top up their stock of used cars, they know they’ll find what they’re looking for on the CarTradeGo app. It’s easy to use, and makes the entire buying and selling process easy. It’s the perfect solution for when you need to sell your car with speed while getting a price you can be happy with.
- The Kelley Blue Book (KBB) is a great resource for those who have a firm idea of what they want to get for their car and don’t wish to deviate too far.
If you’re selling to a dealer but perhaps are in less of a hurry, the KBB is a terrific place to start. The book will give you a firmer idea on the current wholesale and retail value of your car. You should know in advance that when selling to a dealer you won’t get as much as if you sell privately, but when you know the KBB number, you can at least favour those dealers who offer you closest to the value you want.
Many people foolishly sell their cars through apps, to dealers, via classifieds and other channels all without consulting KBB first to get a gauge on the value they should expect. It typically leads them to pricing themselves out of the market, or alternatively to undercharging.
- Fixing up the car before selling or trading will ensure you get the best-possible price, because even small defects can bring big price differences.
Some people sell their damaged cars to dealers in the hope of getting a quick payment and moving on. Well, you’ll certainly get a fast payment and you can start moving on from that previous car, but you’ll be far from getting the best-possible deal. If you spend a little time and money on ensuring the fundamental maintenance factors are all in good order, then you’ll always get a better price.
At the very least, check the paintwork for signs of damage. The visual impact of bad paint can instantly knock a lot off the price. Besides paint, check the oil, filters, other fluid levels, belts, hoses, condition of the wheels, and that all the key equipment like lights and turn signals are working properly. The more they have to fix, the less you’ll get.
- Dealer networks like CarMax and Carvana offer instant online quotes, as well as pickup or drop-off services and easy trade-in options for sellers.
Big dealer networks like CarMax and Carvana have become very popular for the sheer convenience they offer sellers. Carvana, for instance, allows one to get a quote, organize pickup of their vehicle and get paid all within a 24-hour window and all from the comfort of home. They don’t need to go anywhere to get the task done.
The main thing to know about dealer networks is that they do make you pay a pretty large premium for access to that level of convenience. The price you’re offered will likely be the lowest of any channel you explore, but the ease of doing business is certainly the greatest.
Looking at all the options available, the one that will most likely yield the best combination of price and convenience for you is to use the CarTradeGo app. The ease of transaction and the fact that it’s all done online makes it easier for dealers to find and purchase cars they want. It also brings costs down for them and allows them to offer a higher price to secure a great deal.
Learn more about selling your car more easily by downloading the CarTradeGo app today.