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Like Black Book and CARFAX, it can give you a trade-in estimate once you provide the vehicle’s make, model, year, and trim. Kelley Blue Book is a relatively new valuation tool in Canada. What’s helpful about the CARFAX tool is it gives you the option of also requesting a Vehicle History Report, which can provide more detailed information that could impact what the vehicle is worth. Similar to Black Book, you can get a trade-in value estimate for your vehicle by providing your car’s make, model, trim, year, and province where you’re located. It requires a hefty annual subscription of $249.99 to access, which makes it less useful for individuals who are simply looking to gauge the trade-in value of their vehicle.įor individuals, CARFAX instead offers their own free online valuation estimator. It differs from Canadian Black Book in that it’s mostly geared toward dealerships, appraisers, and insurance companies. What is Canadian Red Book?Ĭanadian Red Book is powered by CARFAX.
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Visit our valuation tool to get an instant appraisal (and offer) today. In addition to getting your appraisal you can sell your car directly to Canada Drives, and then put that money towards the purchase of a new vehicle. This will give you an idea of how much the dealer might attempt to sell your vehicle for after you trade it in.Ĭanada Drives leverages Canadian Black Book values to provide an estimate of your car's value. In Black Book, you can also look up the average asking price for the vehicle from dealerships. This is the price range you might expect to receive for your vehicle as a trade-in.The site will then provide you with two numbers-a low-price and a high-price.Input your car’s make, model, year, trim, mileage, and any additional options (such as a sunroof or navigation system).Once you’ve found your car or truck you can select “Get Trade-In Value”.Start at the homepage and search for the make and model of your vehicle.Today, this tool is entirely free to use for individuals who are looking for their vehicle’s trade-in value.įinding the trade-in value of your vehicle on Canadian Black Book is simple and only takes a minute: Until recently, you needed to pay a subscription fee to use Black Book, even to look up trade-in values. Then an expert in-house team analyzes the data on a rolling basis to determine and regularly update vehicle values in their index. It gathers data from a wide range of sources, including provincial sales data, online auctions, and digital listings. Is Canadian Black Book value accurate?Ĭanadian Black Book has been the standard tool to track the value of vehicles since Black Book vehicle appraisal guides were first established in 1955. Online retailers (like Canada Drives) are emerging as a convenient alternative when it comes to selling or trading your vehicle, and you may get a better offer for your car from a national retailer-that buys and sells vehicles at scale-compared to a local dealership. Since their goal is to sell your trade-in quickly and for maximized profits, their offer might depend greatly on whether the make, model, and year of your vehicle is popular with used car buyers, or whether the dealership already has quite a few of the same vehicle on the lot.įor these reasons, if you’re planning to trade-in your vehicle at a dealership it doesn’t hurt to shop around and get quotes from several places, including online retailers. As such, dealerships will often offer a figure very close to wholesale value, or the low end of any estimated trade-in values you see online-then list the vehicle for sale at a higher price. In doing so, they want to maximize their profit margin. When dealerships accept a car as a trade-in it’s because they want to turn it around and sell it to someone else. The reason? The trade-in values you see through online valuation sites might differ from what dealerships are actually willing to offer you-and it pays to be prepared. How do dealerships determine trade-in value?īefore we explore the different ways you can find the trade-in value of your vehicle, it’s important to understand how dealerships value trade-ins. They each offer something slightly different so keep reading to learn more about each tool.
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Three of the most well-known are Canadian Black Book, Canadian Red Book, and Kelley Blue Book. So, how do you find your car’s trade-in value? In Canada, there are several online valuation tools anyone can use to find out in a matter of minutes. It can help narrow down the price points you should be looking at and ensure you’re not wasting your time looking at the wrong vehicles.Įven if you’re not actively shopping for another vehicle, regularly checking the trade-in value of your current car or truck is a wise habit to get into-especially if you want to optimize the value of the vehicle before it depreciates too much. Having that trade-in value in mind while you shop around will help you assess what you can afford.