When you’re planning to sell your used car, the first thing that you should do is check out the state of the used car market in Canada. One of the key things you need to know is how much your make and model is in demand with buyers. When it comes to the best-selling cars in Canada, Autozen has its finger on the pulse of the market. Let our trusty guide help you with that task!
Over the past decade, certain cars have stayed close to the top in the used car market in Canada. Overall, GMC, Hyundai, Chevrolet, Toyota, and Honda were the most-purchased used car brands in 2022, and that has stayed pretty steady in 2023. Let’s drill down and see which models are most in demand!
Canada’s Best Selling Used Cars
Kia Forte
Reliable and reasonably priced, the Kia Forte is a very popular model for people looking for a small car. It has excellent fuel economy and a good record in terms of longevity. While it’s not a flashy car, anyone looking for a small vehicle that performs well will be interested in looking at the Kia Forte.
Honda Accord
The Honda Accord has been one of the most popular cars in Canada for more than two decades, and with good reason. It’s fuel-efficient, with lots of standard features and an excellent safety record. It has a reputation as a low-maintenance vehicle that can be depended on to last for many years, so used Accords are in high demand from buyers.
Toyota Corolla
For many drivers, the Toyota name is a guarantee of quality, and so used Toyotas always sell well. The Corolla is a classic model that has an excellent resale price, retaining 67% of its initial value after 5 years. If you are considering selling your used Toyota Corolla, you can expect to get a very good return.
Mazda MX-5
The Mazda MX-5 is one of the best-selling sports cars on the market, and used ones will net their seller a good price. After 5 years, it only loses about 19% of its value. Buyers appreciate its comfortable ride and good fuel economy, and it’s just a fun car to drive! Whether you’re looking to trade it in for a newer model or need to switch to a more family-friendly vehicle, you can be confident that your Mazda MX-5 will get a good price in the used car market.
Lexus ES
Expect your Lexus ES to be in demand when you sell it, as this luxury model has an excellent track record for quality and reliability. Because it can easily last at least 15 years, buyers can be very motivated to purchase a used one and save money.
Chevrolet Bolt
Now that the market for electric vehicles is expanding, more buyers are looking for used EVs. Because the Chevy Bolt has now been discontinued, used cars of this model are in demand, and only lose 27% of their value after 5 years.
Ford Escape
The Ford Escape is another popular car that has been discontinued, making it more desirable on the used car market. With good gas mileage and a roomy interior, buyers looking for a reliable family car will certainly consider this model.
Ford F-150
The Ford F series trucks have been the best-selling vehicles in Canada since 2009, and the best-selling truck since 1966. These rugged trucks have an excellent resale value, only losing 24% after 5 years.
Toyota RAV4
SUVs are a very popular segment of the car market in Canada, and the Toyota RAV4 is one of the most in-demand models. Even a ten-year-old Rav4 retains half of its original value, so when you list yours for sale, you can expect to get a substantial payout.
Hyundai Elantra
The Hyundai Elantra holds its value very well, with only 22% depreciation after 5 years. If you have kept your SUV in good condition, selling a used Elantra can be very profitable for you!
Selling a Used Car in Canada
Preparing Your Car
Once you’ve established how much your used car may be worth, maximize your chances of selling it for a good price by getting it into top condition. Deal with issues like scratches and dents, worn tires and brakes, or cracked and chipped windshields. Then, either pay for a complete detailing or give your car a thorough cleaning inside and out. Your goal is to make your car look and perform its best to appeal to buyers and get the highest possible price.
Selling Your Used Car Privately
If you want to skip the middleman and sell your used car yourself, post a listing on online platforms such as AutoTrader, Facebook Marketplace and Kijiji, uploading high-quality photos showing your car from every angle. Because you’ve done your research already, you can set a reasonable asking price that will attract buyers but still give you room to negotiate.
Respond to interested buyers promptly and courteously, and set up meetings and test drives in public locations. Negotiate a final price and finalize the sale by completing the required paperwork in your jurisdiction.
If this seems like a lot of work, you do have alternative methods of selling your used car.
Selling Your Used Car to a Dealership
Selling a used car to a dealership is probably the fastest way to get paid for your vehicle, but that comes at a cost. Dealers need to turn a profit when they resell your car, so they will not offer you the full book value of your make and model year.
However, you can usually have a completed transaction in one day, rather than waiting weeks for a buyer to come through on a private sale. As well, if you’re planning to buy another car, using your old car as a trade-in can help you negotiate a better price. But wouldn’t you prefer a hassle-free experience with a better payout?
Selling with Autozen
Autozen, your trusted partner in the Canadian automotive marketplace, simplifies the process of selling a used car in Canada. Our platform is designed for convenience, ensuring a smooth transaction process. Experience a streamlined process that maximizes value and minimizes hassle. List your vehicle with confidence, reaching a wide network of potential buyers. Our user-friendly platform and dedicated support make selling your car a breeze.
The process of selling your used car with Autozen couldn’t be easier! Once you’ve cleaned up your car, an Autozen expert will inspect and test-drive your car, and add it to our next online auction, where your car will be seen by dealers from across Canada. Once you’ve accepted the winning bid, we pick up your car and pay you on the spot. The whole thing may only take a few days!
Let Autozen minimize the hassles and maximize your profit when selling your used car in Canada!
