Canadian Price Used Cars

From LoveToKnow Cars

If you need to determine the Canadian price of used cars, there are a lot of resources available that can help you estimate the value of a vehicle in Canada.

Influences on the Canadian Price of Used Cars

A number of factors influence what Canadians have to pay for a used vehicle. In general, the current supply and the level of demand are the two biggest influences on used car prices, but a number of other issues also influence Canadian used car prices.

Why Higher Canadian Prices Occur

It is often difficult to understand the interaction between the Canadian and U.S. exchange rates and the economic conditions of each country. Ultimately, the economy of one country ends up having an effect on the other. In 2009, such a situation occurred when the declining U.S. dollar created a significant difference between the price of a car in the United States and the price of a Canadian vehicle. While these prices relate to dealership retail values for new cars, buying habits also affect the Canadian price of used cars. In general, more Canadian buyers opt for a used vehicle, increasing the demand and reducing the supply of Canadian used cars.

How to Determine Canadian Used Car Prices

There are not quite as many price research resources available to Canadians as there are for Americans. However, there are some online tools available that can help you estimate the value of your used vehicle in Canada.

  • CarCost Canada is a service that promises to provide you with the wholesale invoice value that dealers in Canada pay for the vehicles they sell. Armed with this information, you can easily negotiate for a significantly lower price. Testimonials on the site claimed a savings of over $2000 to $6000 off the cost of a used car purchase. Unfortunately, the service is not free.
  • Canadian Driver offers this fantastic free tool that lets you look up pricing information of Canadian vehicles. Just click on the year (from 2005 through 2010) and the model of the car you want to research and you'll find both specifications and pricing.
Helpful Used Car Tips
Getting a Great Deal
The Internet has many useful resources to help you find the best Canadian price for used cars. Researching these prices can make it easier for you to get a better deal when you buy your next car!
  • VMR Canada provides Canadian used car pricing for free. All you have to do is click on "1992-2008 Used Values" and look up the prices by make and year.
  • AutoTrader Canada is not so much a research tool as it is a database of classified listings. It allows you to preview all of the listed vehicles by make and year and view current asking prices. These prices offer a pretty good insight into the market value of your used car.
  • Driving.ca is another excellent classified community, but in addition to letting you search through over 50,000 online car listings, you can also check out informative reviews and videos.
  • Monster Auto is one more Canadian auto website that lets you examine classified car listings in order to gauge the current value of your own used car.

Final Words

If you live in Canada and notice at times that vehicle prices are higher in Canadian dollars than they are in U.S. dollars, this is a positive indication that the Canadian economy is doing fairly well. However, even if prices are generally higher in Canada, the resources listed above will allow you to get the best deal during your sales transaction.

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