Valuation Sites : What is Your Car Worth

Friday, December 16, 2016

 

weight-scale-toysIf you’re considering buying or selling a car and want to check values or pricing, there are a few Canadian online resources that you might find helpful.

Canadian Black Book  and Autonet provide values for both new and used vehicles.  VMR Canada (Vehicle Market Research International) focuses on used car values. While some consumers may prefer one of these sources to the others, you might consider getting quotes from more than one to get a more accurate idea of a vehicle’s worth. All three sites provide free calculators on their websites, so your only investment is a bit of your time.

To request a valuation from these sites, you need to provide specific information on the specific vehicle that interests you. In general, you will need to know:

  • Make (Toyota, Buick, Ford)
  • Model (Corolla, Regal, Escape)
  • Model year
  • Mileage – the number of kilometres the car has on it
  • Added features such as a navigation system
  • Your postal code

Here is what Canada’s three most popular valuation sites offer:

Canadian Black Book

Established as a source for vehicle values specifically for the car industry more than 50 years ago, CBB now offers new and used vehicle values to consumers as well. Based on the information you provide, CBB calculates the trade-in value, future value (the expected long-term value of your vehicle purchase, reflecting expected depreciation over one to five years) or average asking price. Look-ups top more than 250,000 monthly.

CBB also provides listings of new and used cars for sale, and each year honours four-year-old vehicles in 19 categories with its Best Retained Value Awards. The awards shine a light on those vehicles that are shown to hold their value the best based on recent performance. This often points to vehicles that depreciate the least.

Autonet

Autonet.ca is a leading voice for everything automotive in Canada with exclusive car news, reviews and videos, comprehensive new car information and used car listings from across Canada. You’ll also find numerous blog articles on various car-related topics written by industry experts.

VMR Canada

VMR was started in 1989 as a resource for investors, insurance and finance companies, and hobbyists interested in high-value, classic, exotic and collector vehicles, Originally called Automobile Investment Services, VMR currently provides consumers with used car pricing information and profiles to aid in the buying and selling process.

Based on the information you provide, the site calculates the vehicle’s wholesale value, so you know what to expect if you are trading it in, and the retail price, so that you know how much you should expect to pay for this used vehicle or how much you can command if selling it yourself.

Having a good idea of the value of a car or truck before you buy or sell gives you more negotiating power so the transaction is a fair deal for everyone.

Editor’s Note: This post was originally published on Wednesday, November 14, 2013 and has been updated for relevancy and accuracy.

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