Used Car Prices Canada

Research Used Car Prices Canada

In this page we will talk about used car prices Canada. Follow this step by step guide to determine any used car wholesale price, private party and dealer retail prices. The method is fairly simple and straightforward, so let’s get on with the topic.

With the help of Canadian black book online FREE tool, consumers now can research on used car prices up to 12 years old vehicles. Say the current year is 2009, you can get the used car black book values all the way back to model year 1997 for every make and model vehicles sold in Canada.

Wholesale Used Car Prices Canada

For any vehicles that are older than 12 years old. Let’s say you are really looking for year 1995 vehicle and would like to know the black book value for the vehicle. You get the value for year 1997 and work the numbers backwards.

For each year older than 12 years, it will generally result in the price difference in between $1,000 to $1,500, provided there isn’t a model change that year.

To better illustrate how the tool works, I’m going to do a LIVE research on 1997 Toyota Camry LE with the mileage of 150,000 km. We will see the trade in value of this vehicle as well as their retail value.

To begin with, right click on this link select Open Link In New Tab, then click on “Go to Canadian Black Book Website”, enter the year, make, model, trim and style of the vehicle you would like to know the value about. Then hit Next.
Make sure you put the right trim level under the trim box. Same goes with 4 cylinder engine and V6s. Enter the current kilometers and hit Next.

Pretend you are buying a new vehicle and put anything to by pass the next step (enter current year, select any make and model and hit next.

Finally, you have to enter your contact information. If this is your first time using the tool, they will send it to your email address. So enter a valid email address and your full name and postal code. Check both boxes to your right and hit Next again.

There you have it! 1997 Toyota Camry LE 4D sedan with odometer reading of 150, 000 kilometers will be appraised in between $3,050 and $4,550 (as of July 2009) minus any reconditioning cost.

So if you are looking for values of 96 model, use this one and minus $1,000 or $1,500 (if the car is $25,000 - $45,000), as long as they are in the same body style.

Retail Used Car Prices Canada

Now you’ve got the wholesale prices, add anywhere between $1,000 to $2,000 for private party prices. Many people choose to leave $500 to $1,500 for price negotiation.

If you really want to sell your car fast. Let people know you are pricing the vehicle right to sell and asking reasonable price to sell.

On the other hand, a used car dealer will typically add $3,000 to $6,000 for retail pricing that will leave plenty of room for negotiation.

I have seen a used car on the lot for nearly 60 days, with all the special discount, weekend only sale or manager specials etc.

The car still managed to be sold for $3,500 gross profit. Ouch!! Either the salesman is too good at selling or the buyer like the car so much doesn’t mind paying high price.

Depends on the level of operation, overhead cost, salesman commission structures etc. A dealer has to make a minimum $1,000 dollars profit for each used car they sell.

The average gross profit on a used car from a franchise dealer is $1,500 (11% of gross profit) on a used vehicle.

The smaller, independent dealers tend to have higher profit margin on used units, average of $1,822 (16.8% of gross profit).

Keep those numbers in mind, as they will be handy for negotiating for better deals.

Used Car Prices Canada in Print

I’d like to mention that there is a printed Canadian Black Book Wholesale Retail Vehicle Guide that is available to purchase as a research tool.

You can get a copy very inexpensively over at CanadianBlackBook.com click on "for consumers" and follow the link to contact them.

One of their reps will get back to you and you can place an order and buy the book. You'll get exactly numbers in terms of values and prices.

If you are planning to buy and sell used cars as a way to make some extra cash, this book is a must have!

Do not get too caught up by the numbers! Do your research with the method above and make some phone calls.

Ask the seller, was the car still available? If the car is sold ask how much is sold for, and write down the selling price.

Tell the seller that you are looking for a car or a truck just like yours. I wonder what’s the fair market price it would be.

Start the conversation like that and start chatting, that’s one of the best way to found on the “real price”, ask the seller their ownership experience, cost on gas and repairs etc.

My Final Advice - In regards to used car prices Canada is this: Don NOT fight over a couple of hundred dollars on the selling price. If it pass all your due diligence, inspection and the price is reasonable.

Just take it! Don’t feel bad about yourself that you did not get what you want to pay for it. Get on with your life and enjoy the new ownership.

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