Selling a used car in Ontario involves some paperwork. Even if you're not sure where you'll sell it, having these documents ready will save you time and stress later on. Here's what you need:
Used Vehicle Information Package (UVIP)
The UVIP is vital for private car sales in Ontario. It has details like the car's year, make, model, and more. It also covers the vehicle's history, lien information, and condition. You can order it online for $20 using the vehicle's identification number (VIN) or license plate number.
Ownership Permit
You'll need this to transfer ownership when the time comes. Keep it handy.
Safety Standards Certificate
This paper is necessary, except when selling to your spouse. You can get it after your car passes a safety inspection at a licensed inspection station. It's valid for 36 days and costs around $80-$125.
Giving Documents to the New Owner
Once you've made a deal, the buyer needs certain documents to transfer ownership:
- UVIP
- A signed Bill of Sale with both names, the sale date, and the price
- Completed and signed Application for Transfer (on the back of the ownership permit)
- Safety Standards Certificate
Remember to remove your license plates and the "Plate Portion" of the ownership permit when the buyer takes the car.
Pros and Cons of Being a Private Seller
Selling your car privately might give you more money, but there are drawbacks:
Wasted Time: Dealing with time-wasting "tire kickers" can be frustrating.
Limited Interest: Some cars might take a while to find the right buyer.
Scams and Safety: Dealing with strangers can be risky due to scams and safety concerns.
Trading In Your Car: Benefits
Consider trading your car at a dealership instead of privately selling:
Time-Saving: No need to deal with calls, test drives, and questions from buyers.
Easy Paperwork: Dealers handle the paperwork for you.
Tax Savings: You pay sales tax only on the difference between your trade-in and the new car, saving you money.
So, whether you sell privately or trade-in, be prepared with the right documents and information to make the process smooth.
South Dale Motors is a trustworthy used car dealership in London, Ontario. We have a variety of vehicles, including cars, SUVs, and trucks. Contact us to learn more about what we offer and how we can help you.
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