You've decided to sell your used car but want to know its value? Various tools are available to you, both online and in print. They will inform you about the value of your used car based on its model year, as well as other factors such as the equipment it has, for example. This price range will be very useful to you not only if you want to sell your vehicle yourself but also if you are considering a trade-in of your vehicle for exchangeat a dealership for used or new vehicles!
What Publications Are Available?
You can consult various websites and paper publications on this subject, the most well-known of which is undoubtedly the Canadian Black Book. This resource provides valuable information about your vehicle based on its make, model, trim, optional features, mileage, and geographic location. You can view a price range within which your used car falls; generally, lower mileage, good condition, and sought-after options result in a higher price.
In addition, the Canadian Black Book provides an approximate value of your vehicle over its first 5 years; this helps you determine the optimal time to sell your vehicle! Furthermore, you can find out in real-time (online, of course) the average selling price of vehicles comparable to yours, thanks to the analysis of thousands of classified ads! One of the big advantages of the Canadian Black Book is that it's free and available in both French and English!
You can also turn to the Canadian Red Book, which is also bilingual, offering 2 different publications: one for vehicles aged 5 years and under, and another for older models. This makes it very practical if you have a vehicle that's 10 years or older. Unlike the Black Book, the Red Book is paid, both for the paper version and the online version: $250 for the latter, which is more useful for dealerships than individuals!
Other publications also exist, but make sure they provide information for Canadian vehicles! For example, Kelley Blue Book is a great source of information, but it only covers the American market. The Gold Book by Sandford Evans, on the other hand, can be very useful if you have an older vehicle as it covers up to 17 model years! However, it's only available in English.
Another way to get an idea of how much your vehicle is worth is to browse through classified ad websites and see the average prices listed for vehicles similar to yours in terms of equipment and mileage. However, note that this method will only be useful if you plan to sell your vehicle yourself, as a dealer who takes your used car as a trade-in will likely offer a different amount than those listed online, depending on various factors!
Steps to Take Before Selling Your Vehicle
Before going to a dealership or posting your ad online, it may be wise to have your vehicle inspected by a mechanic. This way, you'll know if it needs any work and how much it would cost. You can then adjust the asking price accordingly, depending on whether you plan to have these repairs done before selling or leave it to the next buyer!
By doing this, you'll have a document detailing the actual condition of your vehicle, rather than an estimate; this will increase your bargaining power, whether you sell your car yourself or leave it to a dealership!
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