Whether you’re looking to sell, trade-in, or buy a vehicle, the best starting point is usually figuring out the ballpark value. Canadian Black Book is a resource in which both dealers and drivers alike can find out multiple things in relation to average vehicle value, including average asking price, trade-in value, future value, and total loss value.
Average Asking Price
Canadian Black Book collects and averages out extensive sales data from the automotive industry to determine the average asking price of a certain make and model, taking into account factors like vehicle trim, add-ons, odometer and industry trends.
Trade-in Value
If you’re looking at trading in your vehicle, Canadian Black Book also offers a prospective trade-in value. Put in your make, model, trim, odometer reading, any other add-ons and you also have the option to select what vehicle you may be considering and your purchasing timeline. Canadian Black Book will give you an estimate between a high price and a low price you should be getting for trading in your vehicle.
Future Value
By also submitting your estimated annual kilometre usage, Black Book will estimate the future value of your vehicle over the next few years. This is an extremely handy tool if you like to get an idea of how much your vehicle will depreciate in the coming years, though Black Book doesn’t provide this feature for many models that are made prior to 2016.
Total Loss Value
Don’t get ripped off by your insurance company when you file an accident claim. The total loss report offered by Black Book is another tool at your disposal in which your vehicle is matched against the average regression line and where you can view other vehicles like yours, directly in the report!
Here at Go Auto Outlet, we recognize that every vehicle and situation is unique. While we love using Canadian Black Book to get estimates, the value is just an estimate. We encourage, and provide tools for, our drivers to educate themselves with the auto industry, (we also suggest reading our vehicle appraisal cheat sheet)! If you have any questions, make sure to contact your friends at Go Auto Outlet!
Related Articles:
Retained Value Spotlight
Best Used Cars Alberta