Selling......the FinanceBusters Way is exactly the same as selling your vehicle privately with one very significant exception. You are selling the Buyer on your existing Finance contract as well as your used vehicle. One might feel that this task is more difficult than just selling your vehicle privately without the burden of the Finance contract; this could be true some of the time but not most of the time.

A FinanceBusters used vehicle listing provides the Buyer with a fully disclosed and fully comprehensive car deal. Most Buyers shop by vehicle selection and price; FinanceBusters Buyers shop by vehicle and monthly payment (which is far easier for the Buyer to relate to than a price).

Over 90% of late model used cars and over 95% of new cars are financed by some means. The most common means are factory financing, factory leasing, bank financing and personal lines of credit. It is very rare that a customer will actually "save" money to purchase a car. There is no advantage in today’s society to "save" money in a savings account due to the popularity of RRSP’s and their tax sheltering capabilities.

Selling......the FinanceBusters Way provides the Seller with customers that will be fully versed on their vehicle, a savings comparison and the monthly payment on the vehicle. This type of shopping and FinanceBusters display listings supplies the Seller with a far superior and far more researched customer; this Buyer is easier to Sell and more prepared to make a deal and close the deal.

The following outlines the Selling Process of a FinanceBusters used vehicle. The Process assumes that the Buyer has compiled a shortlist of vehicles from FinanceBusters and is about to make contact with the Seller.

To review the Selling Process of an Outright Purchase click here:

The Seller responds to the Buyers telephone call, formal email or FinanceBusters internal email. The Seller must always make their best effort to answer the telephone (first time) every time as Buyers tend not to leave voicemail(s). A Buyer is impatient and a Buyer is a customer; they want to speak to the Seller now and they don’t want to leave messages. A Buyer doesn’t want to wait too long for a return email.

The Seller must always be prepared to engage and respond to a Buyer.

The Seller must have all their vehicle information and finance contract information prepare to answer questions from the Buyer. The Seller must be very confident in their knowledge of their vehicle and their finance agreement.

The Seller encourages the Buyer to commit to seeing the vehicle. The Seller makes an appointment with the Buyer to meet. The Seller takes the Buyer’s name and telephone number in order to confirm the appointment/meeting.

The Seller will (often) receive more than one telephone inquiry on the vehicle. The Seller tries to book as many appointments on one day as possible in order to minimize the selling time commitments and to maximize customer interaction (and ultimately create a bigger demand for the vehicle).

The Seller has the vehicle cleaned and prepared for the showing(s). A dirty and untidy vehicle does not sell as quickly and as easily as a clean and tidy vehicle. The Seller never permits anyone to smoke cigars, cigarettes or other substances in their vehicle; Buyers are not amused by foreign odors.

The Seller offers and encourages the Buyer to road-test the vehicle. The Seller always accompanies the Buyer on this "test drive".

The Seller reviews the entire vehicle and finance contract features and compares these features with what is currently being depicted on their FinanceBusters listing (Details Page). The Seller makes the Buyer very comfortable with the accuracy and the disclosure of their product.

The Seller encourages the Buyer to make a deal today on the vehicle.

The Seller is open and reasonable when discussing (and negotiating) the amount of the cash incentive or down payment required to make a deal. The Seller and the Buyer agree on the terms of a deal.

The Seller drafts a Purchase and Sale agreement (using the template supplied by FinanceBusters, a simple Word document or a regular sheet of 8 ½ X 11 paper). All the parameters of the deal are duly noted on the agreement document; the agreement includes clauses regarding the applicable sales tax payable, finance company transfer fees, vehicle certification and cash incentives (or down payments).

The Seller has made contact with their original selling dealership and/or their finance company to determine the exact protocol and process that must be undertaken to ensure an easy Finance Take Over (FTO).

The Seller will have a credit application on hand as well as contact names, telephone numbers, fax number and email address of the required personnel from either the dealership or the finance company.

The Seller will provide the Buyer with the credit application as well as the submission instructions in order to receive a speedy credit approval on the transaction. The Seller will ask the Buyer about their credit rating since the complete transaction is subject to credit approval. If the Buyer does not have a good credit rating, the transfer will not be approved by the finance company.

The Seller will ask for a refundable deposit from the Buyer (to hold the vehicle and as a show of faith). The Buyer may not want to offer a deposit especially in cases where they will be receiving a cash incentive however, the Seller must make it clear that there are other Buyers on their vehicle and they should only be dealing with customers that appear to be the most serious and professional.

Note: A deposit should not be a deal breaker however the Buyer should be made aware that if another customer offers up an equal to or better deal and provides a deposit; the first customer might lose their opportunity on the deal.

Assuming the Buyer qualifies for credit and receives credit approval; the process continues as follows:

The Seller and Buyer arrange for the vehicle to be mechanically certified (Safety Inspection) and emission tested (if required). The cost of this work should have been discussed and agreed upon during the agreement-in-principle component of the process.

When the finance transfer documentation is finalized (and delivered to either the original selling dealership or Seller) the process continues as follows:

The Seller and Buyer meet at a mutually convenient Motor Vehicle Licensing Office to transfer the ownership/registration and to pay the sales taxes (if applicable). The transfer results in the vehicle’s ownership/registration being changed from the Seller’s name in to the name of the Buyer.

The Seller signs-off (as transferor) and the Buyer signs-on (as assignee/transferee) on the finance transfer documents resulting in the finance contract now belonging to the Buyer. This signing exercise would (most often) take place at the original selling dealership (or at a proxy dealership that is mutually convenient for the Buyer and the Seller). The signing could also take place at the Motor Vehicle Licensing Office (be careful however as the finance transfer package often requires photocopies of identification and Motor Vehicle Licensing Offices do not always have an accessible public photocopier).

The Seller supplies the cash incentive (if applicable/if negotiated) to the Buyer. The cash incentive typically comes in the form of a certified Bank Draft or Cash.

A Done Deal

After successfully following to the steps (described above); the deal is done and the transaction is considered closed by the Buyer and the Seller.

Interprovincial Transfers

Although interprovincial finance transfers are accepted and encouraged (and somewhat commonplace); the steps noted above do take some of the additional required steps and recommendations into consideration; there is however a complete section on the FinanceBusters.ca website that describes interprovincial and long distance purchase/transfers (Finance-Take-Overs).

To learn more about becoming a Seller and to receive a no-charge evaluation of your vehicle and finance contract, click on the “Post Your Car” button and follow the easy instructions.