Make it easy on
yourself We have more demands on our time
these days than ever before, so why add another item to your 'to do' list?
Selling a vehicle privately takes a significant amount of time and effort. In
order to sell your used vehicle you'll have to take care of all of those little
items you overlook day to day, clean the vehicle from top to bottom,
wait for a sunny day to get some good photos and all of that is before you even
advertise the vehicle! Then you need to run a classified ad, field phone
calls and take time out of your day to have strangers come to your house to
view the vehicle. After all of that is taken care of then the real fun begins,
the negotiation!
Pay less
tax In BC, you pay tax only on the 'price
difference' between the vehicle you are trading in and the vehicle you are
purchasing from a dealership (new or used). If you sell the vehicle yourself
you will have to pay tax on the full selling price of your next vehicle. For
example, if you buy a new vehicle for $20,000 and trade-in your old vehicle for
$7,500 you will only pay tax on the difference in price, or $12,500. That extra
tax you don't have to pay is the same as money in your pocket and without the
hassle of selling the vehicle privately.
Avoid
major vehicle maintenance If you sell your
vehicle privately, you will need to ensure it is maintained and it is in safe
working order. This is extra worry on your part that can also be very costly if
you don't use trustworthy, factory trained technicians. It can include fixing
brakes, tires and other big items out of your pocket. If you trade-in with a
dealership, they look after all of the reconditioning expenses and take the
worry out of the process.
Be
safe When selling on your own, it is
extremely important that you set up appointments when a friend or family member
can be there with you. Selling your vehicle privately can be dangerous at times
and you need to be careful. Always meet in a public place and be cautious when
accepting payment.
Be done
with it If you trade-in your vehicle, you
prevent any issues with a dissatisfied buyer later on. What happens if the
engine breaks down or the transmission goes out? If you sell your vehicle, the
new owner knows where you live and may seek compensation. If you trade-in your
vehicle, the dealership assumes all of the responsibility and you can walk away
carefree.