Selling your used car? Thinking of trading your car in at a dealership? When it comes to selling a used car or trading it in, it’s important to have an idea of how much your car is worth. Used car prices can be influenced by various factors such as the make and model, year, mileage, condition, and even location. Additionally, car values can fluctuate depending on state of the current market.
In Canada, there are several methods to determine a car’s value, and we’ll explore a few of them here.
Visit a Dealer
You can always take your car to a local dealership to find out what they think is a good asking price for the car. However, remember that dealerships usually buy cars at a wholesale value as they need to make a profit during the car’s resale – especially since they spend money on repairs and sprucing up your vehicle.
Dealerships will often provide you with a trade-in value, which takes into consideration the make, model, year, and condition of your car. Keep in mind that the trade-in value may be lower than the actual value of your car, as dealerships need to make a profit when selling it.
Visit an Online Car Value Estimator
If you are planning on selling your car privately, chances are you want to know what the private party value for your used car is. There are several such estimators that will let you know what a good deal on your car looks like. If your car is being sold privately you may also have to pay for a comprehensive vehicle history report from CARFAX Canada to reassure your buyer.
Some places you can find out what your car’s rate is include:
Canadian Black Book
Canadian Black Book is a well-known source for determining the value of a car in Canada. It’s an independent company that provides vehicle valuation services for cars, trucks, SUVs, and motorcycles. You can enter the make, model, year, and condition of your car to receive an estimated value. The values provided by Canadian Black Book are widely used by dealerships and financial institutions when buying or selling a vehicle.
Kelley Blue Book
Kelley Blue Book is another popular resource to determine the value of a car in Canada. This American company provides a similar service to Canadian Black Book, but it focuses more on the American market. However, you can still use the Kelley Blue Book to get an estimate of your car’s value in Canada. Just keep in mind that the values may not be as accurate as those provided by Canadian Black Book.
Online Marketplaces
Online marketplaces like AutoTrader and Kijiji are another way to determine what a fair price for your car looks like. By searching for similar vehicles for sale to yours, you can get an idea of the average price that other cars like yours are selling for. Just be aware that the prices listed on these websites are not the sales price, but rather are an asking price, and that the condition and location of the vehicle can also affect its value. For example, a cars with high mileage will fetch lower prices on average than similar vehicles with better mileage.
MintList Value Estimator
You can also find out what your car’s worth on MintList easily. Our online car price estimation tool not only lets you know car values but also what you can expect them to fetch on other car sales websites.
Trade In Your Used Car on MintList
Trading in your used car on MintList for a new vehicle is easy and offers several tax saving benefits too. Since you can get up to $4,000* more than a single dealer offers on our online auction, the tax you pay on the purchase price of your new car automatically reduces, saving you money. Additionally, you can choose from hundreds of new and used cars for your trade-in on our website, all of which come with a 3000 km warranty.
It doesn’t matter if you have never sold anything (let alone a car!) before. Our platform guides you through every step of the way. If you want to speak to someone, we also have real humans to walk you through the whole process of selling and trading in your car.
List your car on MintList today or get in touch with us if you have any questions.
