Advice on selling used car

[lekkel]

I'm trying to sell a used car, relatively new, 2005 Corolla.

This is my first time doing this type of thing so I would like to get some advice from those of you that have done it before.

I read in some post about a tax that is involved. If I am selling it privately, I don't have to pay any taxes right? Does the buyer have to pay a tax? I am thinking about this because it will have an impact on the price i want to list.

My family bought a used car a long time ago, but I don't remember us having to pay a tax?

Also, I got the following on the MTO website:

"Remember: under Ontario law, private sellers of most motor vehicles must buy and show potential buyers the Used Vehicle Information Package."

Am I supposed to get this package?


Any help will be greatly appreciated!

[PrinceMS]

Marketing:
- This is the most important step, to decide where you want to advertise. Best place is AUTOTRADER.CA , although carpages.ca is gaining some grounds as well (kijiji.ca also gets you exposure but its free)

Taxes:
- The buyer pays taxes 8% on retail value or selling value (whatever is higher).

UVIP:
-UVIP costs about $20 at mto office and cheaper at KIOSK, either you or buyer can get that. I never had to get it, i made it buyer resoponsibility, but if buyer insist you can get that

PLATES:
- Keep your plates, buyer will have to get their own

SAFETY & ETEST:
- You can sell it with Safety (valid for 30 days) and with Emission-Test (valid for 1 year). You can also sell it AS IS and let the buyer take care of that

Just curious, why are you selling?

[motomondo]

The most important step is actually to get paid!!!

For a recent car, most people are not going to pay you cash, as no one likes to walk around with $10K + in their pocket. Most buyers are going to give you a certified cheque or a bank draft.

Both documents can be forged and crooks have conned people, they get the car in exchange for a fake cheque, and the seller is left with nothing... In general, be careful who you are dealing with. Don't be paronoid, just careful.

Buying quite a few used cars in the past, I have encounter different sellers. One guy wanted me to show him a drivers license (identify myself, so if there is a problem with the payment, he could find me later). Another went to the bank with me, to make sure that the bank draft was real. He wrote down the serial #, so when I picked up the car later the same day, he could confirm that the bank draft was the same. Another asked me to go to his bank and deposit the bank draft. After the teller confirmed that the money was effectively in his account, he gave me the keys of the car, I drove the car away. Another seller wanted to close the deal at my house... same principle, if there is a problem with the payment, he could find me later...

If you have any questions about payment, just let me know, I will try to help...

[lekkel]

Marketing:
Just curious, why are you selling?

We have 2 drivers and 3 cars in the household...

know anyone interested?

thanks for the advice btw