What is your car worth?

Here are the answers to the question: "What is my car worth?"

How much is your car really worth? Here is how to find accurate used car values.

(For new car prices, see below)

By Bill Roebuck

Good source for car prices: Get the current Canadian Black Book wholesale value (what it's worth to a dealer as a trade in) of your used car by visiting the Book's website (look for a direct link to the Black Book site in the Google-supplied ads on this page), or use the pass-through links from Toyota Canada's website or through GM Canada's GMAC website.

Editor's Note: Black Book asks you to submit your name, e-mail address and postal code before they send you an e-mail link that lets you view the trade-in value of your vehicle. However, the e-mail and link arrive in your inbox within moments and in our tests over more than two years, we've received no inappropriate e-mails or unwanted contact after using this service.

On the negative side, Black Book Canada completely updated and revamped its website and relaunched it in June 2010, and we found that the old site was easier to use. Several features on the new site did not work properly in the month after the redesign.

Another good source for car prices: For an even simpler pricing website, check out both wholesale and retail (what a dealer would sell it for) values at VMR Canada.

Also try this to find what your car is worth: Here's another tip. Visit the Auto Trader magazine online and search for your own vehicle to see what price others are trying to sell similar models for in your area. Similarly, you can also check the prices of vehicles for sale on eBay Motors Canada. You can also do the same to find cars for sale on the Kijiji Canadian site as well as EBay Motors.

Yet another option: Your local bank's loan officer should have printed copies of the weekly Black Book (listing wholesale values) and the Red Book (retail values) that will help you find an estimate of the current value of your vehicle.

If you're willing to spend a little money: For a fee (about $10-$12 for 30 days of access), canadiancarprices.com will tell you current wholesale and retail pricing for vehicles in the Canadian used car market, as well as dealer pricing on new models.

New Car Prices

In addition, new car pricing and invoice costs can be found at the fee-based CarCostCanada (look for a link in the Google-supplied ads on this page), This site offers new-car pricing reports that show what the dealer pays for your car and the incentives available, so you can figure what the best price should be. A fee of $39.95 gets you unlimited retail price reports plus wholesale price reports on up to five models.

For example, a 2006 Jeep Liberty Renegade had a retail base price of $31,770, which rose to $40,620 with options, freight and other costs. At that time (Feb. 2006), the total wholesale cost for the loaded-up Liberty, according to CarCostCanada, was $37,935, less up to $3,500 in available incentives. Reduced dealer markup and administration fees, which typically cost extra, are offered by specific dealers affiliated with the website.

In December 2010, I used CarCostCanada's pricing to help with negotiations on leasing a new 2011 Honda CR-V for my wife and we saved about $1,400 because of it. Significantly, there was no resistance from the Honda dealership about the price quoted, nor pressure 'to add a bit more to the pot' after the store manager reviewed our offer.

Best new-car deals

Consumer Reports magazine's New Car Price Reports regularly monitor and report on car prices in Canada. Certain vehicles are identified as offering particularly attractive savings opportunities at certain times, reflecting supply and demand in the automotive market. Here are examples from August 2010 and September, 2009:

Best new deals as of August 2010
Make & Model	Expires	MSRP	Customer or Bonus Rebate	Dealer Incentive	Potential Savings Below MSRP
2010 Acura MDX AWD 4dr	30/10/2020	$53,985	No	Yes	15%+
2010 Audi A4 4dr Sdn 2.0T CVT FrontTrak	01/11/2020	$40,395	No	Yes	15%+
2011 BMW 3 Series 4dr Touring Wgn 328i xDrive AWD	01/11/2020	$47,695	No	Yes	10%+
2010 Chevrolet Camaro 2dr Cpe 1SS	01/11/2020	$38,515	Yes	Yes	10%+
2010 Dodge Ram 1500 4WD Crew Cab 140.5 ST	01/11/2020	$38,215	Yes	Yes	25%+
2010 Infiniti EX35 AWD 4dr	01/11/2020	$43,240	Yes	Yes	15%+
2010 Nissan Maxima 4dr Sdn V6 CVT 3.5 SV	01/11/2020	$41,075	No	Yes	15%+
2010 Toyota Tacoma 4WD Access Cab V6 Auto	01/11/2020	$31,000	Yes	No	5%+
2010 Volkswagen Passat Sedan 4dr Manual Trendline	01/11/2020	$29,240	Yes	Yes	15%+
2011 Volvo S80 4dr Sdn FWD	01/11/2020	$51,810	Yes	Yes	10%+

Best new deals as of September, 2009
Make & Model	Expires	MSRP	Customer or Bonus Rebate	Dealer Incentive	Potential Savings Below MSRP
2010 Acura RL 4dr Sdn	30/09/2020	$65,895	yes	no	15%+
2010 BMW 6-Series 2dr Cpe 650i	30/09/2020	$97,495	no	yes	10%+
2010 Buick Lucerne 4dr Sdn Super	30/09/2020	$49,245	yes	yes	10%+
2010 Chevrolet HHR FWD 4dr LS	30/09/2020	$21,845	yes	yes	10%+
2009 GMC Sierra 1500 4WD Crew Cab 143.5" WT	02/11/2020	$36,380	yes	no	10%+
2009 Honda Pilot 4WD 4dr LX	30/09/2020	$41,510	yes	yes	15%+
2009 Nissan Armada 4WD 4dr LE	30/09/2020	$58,148	no	yes	10%+
2010 Volkswagen Jetta Sedan 4dr 2.5L Man Trendline	04/01/2021	$23,635	yes	no	5%+
2009 Volvo C30 2dr Cpe Man 2.4i	30/09/2020	$29,510	yes	yes	10%+
2010 Toyota Corolla 4dr Sdn Auto LE	30/09/2020	$22,385	yes	no	5%+

In the charts above, Consumer Reports lists some of the models in its price analysis that carry both substantial discounts and have been recommended by the magazine based on performance and at least average reliability. The Manufacturers Suggested Retail Price (MSRP) is listed.

For fees in Canada of $29.95 US for 1 report, $39.95 US for 2 reports or $49.95 US for 4 reports, you can access this New Car Price Service from the US-based magazine, which also gives you Consumer Reports Bottom Line Price -- a close approximation of the actual dealer cost.

(Unfairly, it seems, Consumer Reports charges US customers only $14 for the first report.) The CR Bottom Line Price incorporates the familiar dealer invoice with the behind-the-scenes financial incentives that manufacturers give dealers to increase sales of particular models. Consumer Reports recommends negotiating from the Bottom Line Price.

For details, visit http://crcanadacars.org/CNCPS_BestDeals.asp.

Updated Mar. 4, 2011. Updated Nov. 19, 2010. Updated July 8, 2010. Updated April 27, 2010. Updated Nov. 3, 2009. (c) CarTest.caTM

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