Tricks of the trade-in: How to get top dollar for your used car
If you’re in the market to sell your car, getting top dollar for it may seem like a daunting task. But there are some tricks of the “trade-in” that can help get you every penny your car is worth.
The sweet spot for getting the most for your used vehicle is at the three-year mark, because dealers can resell it under a certified pre-owned program.
Even at five to seven years, vehicles can still have value because the repair costs usually haven’t started to escalate.
But knowing exactly what your car is worth can be challenging. Market-value calculators can help. Trying running a calculation on Carfax.ca, Canadian Black Book and autoTRADER.ca.
Offers can vary and it’s recommended you take your car to a few local dealers to find the best one. You can also solicit offers through websites like autotTRADER.ca and Craigslist.
But keep in mind that if you sell your car to a dealer, you’re probably going to take a financial hit. On the other hand, you can sell the car yourself and make more money, but that’s going to require more time and effort on your part.
Also keep in mind that a clean car is easier to sell, whether you do it privately or through a dealer. But getting it detailed can cost up to $250, cutting into your profit. So you might want to wash and vacuum the car yourself.
(With files from Consumer Reports)