It is commons sense to look up the Kelley Blue Book or any other blue book on the internet when in the market looking for a car’s value. But, if you are living in Canada, that is a different story. The thing is, all the resources which helps individuals such as car enthusiasts, dealers, and those who look to buy a car only refers values applicable only in the United States. It does not fit the market out in the Canada. So, how you do you intend to know which prices are fair and which are not? How do you know that you are getting the best value for your car in the market? Will you be able to distinguish which dealers just got the upper hand?
Just recently, Canada created its own catalog of market values of cars. It is comprehensive and detailed only to fit those who live in Canada. This is called the Canadian Black Book. This is point of resources of most banks, dealers and insurance companies when looking up the true value of a car in the trade. It is pretty much the standard for the Canadian market.
It was established last May 28, 2010. The Canadian Black Book enlists car values for trade-ins, the retail asking price on an average, and a projection of how new and old cars will fair in the market in terms of its value. In addition, it also reflects true market values of cars available in the Canadian market since 1997. Again, it is a comprehensive and complete source well suited for a Canadian vehicle enthusiast, similar to Kelley Blue Book or NADA guide in the US.
It does not exclusively help buyers though. It is of big help to the car dealers as well. With this information in their hand, they are capable of getting the best deals and assured that the cars they sell will never be undervalued. Moreover, the individuals who march in through their doors are more or less informed buyers. So, this ascertains that the people who enter are serious of purchasing the car they want with the right price. There will be no standbys this time.
But dealers should understand another perspective. There will always be those individuals who will come and go in an establishment to scout around the market for the best deals. Different dealerships offer different incentives for their customers. As a matter of fact, their number might increase with the advent of the Canadian Black Book because the more informed buyers become the more they tend to make wiser decisions. And I see their number increasing as the years come especially with the system being incorporated in the internet. It is just a matter of time before it more individuals become informed buyers.
One enticing feature that this website provides its visitors is the ability to inform them of a car’s trade-in value. This will reflect the number that a dealer is willing to pay if you give them your car. It is like selling it to a private individual, but this time the one receiving will be a dealer, so expect the value to be less.
Looking into a Car’s Canadian Value
Before making any purchase of vehicles in the market, or selling one at that, it is wise to learn what its value will be in the Canadian market. If the United States has their Kelley Blue Book, Canada has its Black Book. Canada’s version of the blue book has different contents. It only offers market values for off-road vehicles, boats and motorcycle. What options do you have in Canada?
First option would be VMR.com. Since Canadian car values do not differ by region, it is easier for people to look it up in the internet. It eliminates the hassle of narrowing down the search. And the depreciation calculator that it offers only considers the car type, make, model, and the kilometers it has accumulated during the duration of its usage.
As what was said earlier, the Canadian Black is the staple source for all car value in the country’s market. It considered a car’s kilometers, appearance, and its overall condition it coming up with values. Its Red Book on the other hand, only considers those which are located in Toronto.
The last point of resource is the Sanford Evan’s Gold Book. It is Canada’s most comprehensive list of true market value of a car. The only drawback is it is only published once a year.