The average Canadian family managed to save a fair amount of money over the past year and are now looking to spend it, says this CBC article. Vehicles are on the top of the list for “must haves,” but those on the hunt are discovering unexpected supply chain issues. Cars are complicated computer-driven machines, and there is a serious shortage of necessary chips and semi-conductors. This is leaving thousands of cars still on the line, and causing what experts say is a (hopefully) temporary hike in prices.
Right now in the car sales world, as it is with the Calgary real estate market, it is better to be a seller than a buyer. But, even though there are lots of people looking, selling a vehicle still takes work. Ensuring to take a few important steps can help the process run as smoothly as possible.
Thinking of selling a vehicle? How to get what it’s worth
Due to the shortage available, even used cars are generally being valued quite high … or at least higher than they would have been a year ago. Considering selling a vehicle to take advantage of the supply chain glitch could be a great idea, but you want to know you’re getting what it’s worth.
Before you list your car on Kijiji, Autotrader, Carpages.ca or Used.ca, begin spreading the word among your friends, post to social media, and put a For Sale sign in the window, be sure to do some research. There are several ways to find out what you should be listing as the price. Cross-compare your vehicle against others that are similar and consult the Kelley Blue Book and Canadian Black Book. Both the Kelley Blue Book online tool and Canadian Black Book online tool can help you closely approximate your car’s value. The more details you can provide, the better, so when you go out to get your mileage, also bring your owner’s manual inside to help you fill in the blanks. Things like the trim, style, options, and colour can make a bigger difference than you would think.
An appraisal may be a good idea if you have added custom features or upgrades, if your vehicle could be considered vintage, or if it is difficult to find.
Then take the time to clean your car extremely well inside and out, or pay a professional to have it done. It’s absolutely imperative to make it as spic and span as possible – it will need to look its best for its photoshoot. When you take pictures for the sales listing try to take advantage of a bright and sunny day for the best lighting, and put your car in an attractive location. Pictures in the middle of parking lots are just not ideal for selling a vehicle.
To further pique the interest of prospective buyers, include a CARFAX Canada report with your listing. This provides the complete history of your vehicle, including all accidents, any liens, and insurance claims.
Remember as well that any vehicle older than 12 years old requires an inspection before it can be insured in Alberta. Having the inspection done ahead of time to prove to potential buyers that your vehicle is both safe and roadworthy can make your buyer choose you above the others.
How to sell your car
The Government of Alberta provides all the information and documentation you need to sell your vehicle legally in the province. Among the tools they provide is a standard Bill of Sale form, where the information about the buyer, seller, vehicle, conditions of sale are recorded to present to insurers and registry offices.
Details that absolutely must be included are:
- Full name and address of both the buyer and the seller
- The vehicle identification number (VIN)
- Make, model, style, colour, and year of the vehicle
- How much the vehicle sold for
- Signatures of both parties involved
Keep both a paper and digital copy of everything stored in a safe place once the deal is done.
Lower car insurance rates from Lane’s
Insurance brokers such as us at Lane’s have access to the very best policies available from Canada’s most respected insurance providers. As such, we also have access to a number of different types of discounts to help find you lower car insurance rates. And we will never fail to ask if you qualify for each of them. We know the right questions to ask to ensure you get the best deal available.
Lane’s Insurance is a leading Alberta-based brokerage working out of Calgary, Banff, Edmonton and greater Alberta. In addition to extensive customer resources, outstanding claims support and value-added service, Lane’s Insurance helps you save by getting insurers to bid on your business. The end result is fantastic coverage at lower car insurance rates.