Wanting a car is not a rarity nowadays. It gives you the convenience of going wherever you please. You are in control compared to when you commute. But, buying a new one can be very costly.
A good alternative is to purchase a used car. It is a wise decision considering that it will be your first car. But before signing a check or handing over cash, you should first know the value of the car is. It is always wiser to come with knowledge of its true value by consulting either NADA Guide or Kelley Blue Book for a Blue Book Value. Evaluate the trends in pricing cars to make sure that you are not being tricked into paying more what it deserves. There are many markets in Canada that puts used cars up for sale and most are looking for information regarding their prices.
The internet is a good source of guides that can help you in determining a car’s value in the market like NADA Guide or Kelley Blue Book for a better Blue Book Value. And unlike antique cars, you should consider a well maintained car with a good overall condition as worthy of a higher price. But, if it looks like that a little bit more tinkering needs to be done, then the estimated sum for the repairs should be deducted from the original value. And it is fair enough that it should be. So dealers should be very particular with the overall condition of the cars that they are selling in order to get the most value for the car.
On the other hand, a vehicle at its top condition or a model of luxury with very little depreciation can be priced even more in comparison to what the guides show. The price could increase up to five percent of the original price which, again, is fair considering the amount that they may have spent in order to keep the car in tip top shape.
Car models which are in demand in the country may have higher prices compared to those which are not. This can be attributed to the rarity of acquiring one in the market considering the number of people who wants to take a hold of it. And dealers are wise enough to make the decision of increasing the price.
And knowing this might be another important asset in getting your price right. It puts dealers and buyers on common ground; no one will have the upper hand. This information can be seen in the classified of magazines and daily newspapers in the country. But it may be best to look at the Canadian Black Book or Canada’s Red Book for a more official list of a car’s value since this is what companies handling insurance and banks use. Canada has also their version of America’s Kelley Blue Book but with slight difference in content. Canada’s blue book focuses more on offers for vehicles which can be driven off-road, boats and motorcycles which is why the previous two books are commonly used. You can also use the power of the internet in order to look up the value of cars which are available in the market.
Which leaves one question in mind: Where can you turn to in order to find a car’s true value in Canada?
One of the many options is using the power of the internet and log on to VMR.com. This website becomes more convenient because of the lack of difference in the value of cars in each region; there is uniformity. So, the site provides a more comprehensive list of the prices of each car which is up for grabs in the Canadian market so to speak. In addition, it also provides a depreciation calculator which can be used to look into the car type, the year it was manufactured, and the number of kilometers that it has traveled.
The second option is the Canadian Black Book which is commonly used by insurance companies and banks. Canadian Black Book takes into consideration the kilometers it accumulated, its appearance, and the mechanical condition of the car. The values registered in the Canadian Black Book are based on the auctions across the country. It is published twice a month. Its red counterpart on the other hand, only takes into consideration those in the Toronto region.
Lastly is Sanford Evan’s Gold Book which is the most comprehensive of its kind, but is only published annually. This takes into consideration the car’s value from British Columbia, Eastern and Western Canada.