Canadian Used Car Appraisal

Are you thinking of purchasing a used car from Canada? Do you live in Canada and seek a good trade-in value on your car? Do you plan to move to Canada and wonder what value your used car would bring? Whatever the reason, obtaining a Canadian used car appraisal is key in helping you purchase, sell or trade-in your vehicle.

Read the Buying Guide for Used Cars!

Used car appraisals are derived from certain elements. Beyond the year, make, and model of your car, items like equipment, trim, mechanical condition, and mileage come into play when valuating a car. The overall body and interior and exterior condition, paint, and tires also determine the value of your car.

Companies that quote an appraisal without insight about exterior, interior or mechanical conditions are only offering a general value. To get the correct Canadian used car appraisal, you do have a few options.

Here are some companies and websites that can help you obtain a value on your car.

• Canadian Car Prices – This website is easy to use but charges a fee to find a value for your car. This company uses the Canadian Black Book to appraise the value of your car. The Black Book is considered a high authority when valuing used cars in Canada.
• Car Quotes – Although this website is free and does use the Canadian Black Book, beyond your vehicle information, you must supply an email address to receive that free valuation. Keep in mind that your email address could be sold or passed along to auto dealers.
• Appraisal Ontario – While this company is not just an auto appraiser, they do appraise all sorts of personal property, including cars. Their appraisals do not come cheap but you will get a professional report and their appraisers come to your location.
• Classic Car Guy – Along with classic cars, this company will travel to you and give you a Canadian used car value on your non-classic vehicle. This company specializes in appraisals that include photographs, test-drives, and the advantage of hiring an expert to appraise your car.
• Canadian Black Book – This company publishes trusted Canadian values in the auto industry. To receive a value, you must pay for it, however. You can get a one-time value or subscribe to the Canadian Black Book and receive daily or weekly reports.
• VMR Canada – This website is similar to what Edmunds and NADA offer in the US, only to Canadian consumers. Just choose your make, year, and model and select optional equipment to receive an appraised value for your car. This is a great website that offers all sorts of buying and selling tips and expert reviews. The best part, it is entirely free.

No matter where you seek your Canadian used car appraisal, you will most likely get three different values:

1. Wholesale
2. Retail
3. Trade-In

Here’s an easy-to-understand explanation of what they all mean:

• Wholesale – A wholesale value is the value of your car if you trade it in and the dealer immediately sells it to a wholesaler or you sell it to a wholesaler. It is also what you car would bring at an auto auction.
• Retail – This is the value that you could get if you sold the car on your own and is not what a dealer would give you as a trade-in value.
• Trade-In – This is the value a dealer would give you if they intended to keep your trade and prep it for sale on their used car lot. The cost to prep the vehicle for sale gets deducted from the value of the car to obtain the trade-in value.

Things to consider when seeking a used car appraisal are you won’t get an exact value unless either an expert in the auto industry or a mechanic who is knowledgeable about car values inspects it. You can, however, get pretty close to the value of your car as long as you’re honest about its condition when obtaining a value. For example, if you utilize VMR Canada, make sure you list all the vehicle’s options and use their guides on explaining the condition of the interior, exterior, and mileage on the vehicle. All of these will help you get the best value on your automobile when seeking a Canadian used car appraisal.

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