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How much is my car worth?

Learn how to find out your car's value before trading in or selling your vehicle in Canada.

Finding out how much your car is worth is an important first step in selling or trading in your vehicle or when using your car as collateral for a loan. While free online services can give you a pretty good idea of your car’s value in Canada, you might need to pay for a professional appraisal if you’re using it to secure a loan or for other legal reasons.

4 steps to estimate your car’s value in Canada

Finding out your car’s value from a reputable Canadian website is a great way to make sure you’re getting a fair deal before you sell or trade in your car. Follow these 4 steps to find out how much your car is worth in Canada.

Step 1: Gather your vehicle’s information

Have the following details about your vehicle handy before getting started with a car-value estimator:

  • Vehicle identification number (VIN)
  • Year
  • Model
  • Make
  • Kilometres
  • Colour
  • Your postal code
  • Vehicle condition (e.g. any dents, scratches or other repairs)
  • Any additional features you added on

Step 2: Visit car-value estimator sites

Each site has different standards based on your car’s condition and might give you slightly different quotes. Some of the best and most trusted Canadian car-value estimating sites include:

Online car-value estimatorHow it works
Canadian Black Book logo

Canadian Black Book

  • Estimates your car’s value using Canada-wide data from car sales, auctions, brand equity, and what similar vehicles are selling for
  • Offers estimates for your car’s trade-in value, average asking price and future value
  • It is a reputable site that has been in business for over 50 years
Carfax logo

Carfax

  • Estimates a car’s value based on sales of similar vehicles near you
  • Carfax also offers Vehicle History Reports for any used vehicle based on its VIN, which can potentially give you a more accurate value estimation and prevent you from buying a lemon

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Auto Trader Canada

  • Estimates a car’s value based on whether you want to trade in, sell or buy
  • One of Canada’s biggest platforms for private vehicle sales, while also hosting listings from dealerships across the country
Kijiji

Kijiji

  • Allows you to see the price of similar vehicles in your are for any kilometre radius you set
  • Narrow down your search using filters for the body type (e.g. hatchback, minivan, SUV etc.), make, model, price, year, colour, whether it’s being sold by a dealer or privately, its condition and many more features

Step 3: Get quotes for multiple types of car values

How much your car is worth varies depending on how you plan to sell it. Look up the following values before you decide what you plan on doing with your car:

  • Trade-in value. How much you’d get from a dealership if you traded in your car for another vehicle. Also known as the wholesale price, this is usually lower than other types of car values.
  • Private-party value. The amount you might be able to earn from selling it to a private individual. This is generally higher than the trade-in value.
  • Dealer retail value. How much a dealership would receive for selling your used car. This is often higher than the trade-in and private-party value.

Typically, you need to fill out a form with information you gathered about your car and where you live — prices can vary by location. The more information you provide, the more accurate the estimate will be.

What’s the certified preowned value?

Some dealerships sell used cars that have been inspected by the manufacturer — called certified preowned (CPO) vehicles. These come with an extensive warranty that covers everything except damages that come from regular car use. Typically, these have a higher value than most used cars, thanks to the warranty, but still cost less than a new car.

Step 4: Compare the price to similar vehicles in your market

Once you’ve gotten a few estimates from car-pricing sites, take a look at the current market to see how cars similar to yours are selling.

Take note of the number of similar cars on the market as well as the asking price. If there’s a high volume of cars like yours, you might not be able to negotiate as high of a price as you might otherwise — it could be worth waiting until there’s fewer similar vehicles on the market.

Check out some similar vehicles in the table below to see how a car’s value can compare for different model years.

2021 Toyota Corolla

Toyota Corolla

Honda Civic 2020

Honda Civic

2021 hyundai elantra

Hyundai Elantra

2022 MSRP$22,250$25, 370$20,249
2019 model$14,475$17,629$15,008
2017 model$12,975$13,628$8,566
2015 model$11,175$10,215$6,248

The vehicle values shown in this table are estimates only.

Getting an official appraisal

Getting your car appraised might be necessary if you want to use your vehicle as collateral for a loan, it’s part of a divorce settlement or you’re in another situation where you need a legal certificate stating its value. Appraisals can sometimes set you back around $100 per vehicle, but you’ll get the most accurate quote.

Typically, you need to bring in your car for an inspection, which can last anywhere from 30 minutes to a few hours depending on where you go.

Do I need to get my car appraised?

Yes, if you need an official certificate of value for legal reasons. You also might want to get your car appraised if you’ve made a lot of changes to the vehicle or it’s difficult to describe its condition. Rare or old cars might also benefit from an appraisal, especially if you can’t find prices online.

Where to get an appraisal

Many dealerships will appraise your car when you try to sell it — though you might be able to get a more unbiased opinion elsewhere. You can also get your car appraised through a professional appraiser — typically you can find these online like on Kijiji or through Carfax, through an attorney or even by contacting a real estate office.

Auction houses also sometimes appraise vehicles and can be particularly helpful if you have an antique or exotic car.

4 tips for getting your car appraised

Here are a few pointers to ensure you get the most accurate appraisal:

  • Go to an independent source. You can usually get a more accurate quote from an appraiser that doesn’t have any potential ulterior motives, rather than a dealership looking to make a higher profit from a trade-in.
  • Ask if it uses USPAP. One way to tell if an appraiser is legit is by asking if they rely on Uniform Standards of Professional Appraisal Practice (USPAP). USPAP provides specific guidelines and best practices to help give the most accurate valuation.
  • Clean up your car. Give your car a wash, vacuum the seats and make any small adjustments so you can present your vehicle at its best.

I know what my car’s worth. What’s next?

Have an idea of what your car is worth? You have a few options:

  • Trade it in. Bring your car to a dealership and trade it in for a different vehicle. You’ll have to cover the difference between the trade-in value of your car and the retail price of the new vehicle.
  • Sell it. Post ads on sites like Kijiji Autos, Auto Trader Canada and eBay Motors to get a higher price for your vehicle.
  • Invest in improvements. If your car is too banged up to get a good deal, it could be worth investing in some improvements before making a sale.

Thinking of trading in? Consider depreciation

You may have heard that a new car loses 20% of its value as soon as you drive it off the lot. But that’s not always the case as different cars lose value at different rates. Paying attention to your car’s rate of depreciation can help you time when to trade in your car to get the most bang for your buck.

Compare car loans to finance your next ride

Ready to sell or trade in your vehicle? Compare the lenders below to find a car loan that suits your needs.

1 - 6 of 6
Name Product APR Loan Amount Loan Term Requirements Long Table Description
CarsFast Car Loans
4.90% - 29.90%
$500 - $75,000
12 - 96 months
Requirements: Min. income of $2,000 /month, 3+ months employed
Loans Canada Car Loans
1.49% - 31.99%
$500 - $35,000
24 - 120 months
Requirements: Min. income of $1,800 /month, 3+ months employed
Clutch Car Loans
From 8.49%
$7,500 - No max.
12 - 96 months
Requirements: 3+ months employed, Max.1 bankruptcy, Ontario & Nova Scotia only
Carloans411 Car Loans
1.90% - 19.99%
$500 - $50,000
Up to 72 months
Requirements: Min. income of $1,600 /month, 3+ months employed
Canada Auto Finance
4.90% - 29.95%
$500 - $45,000
3 - 96 months
Requirements: Min. income of $1,500 /month, 3+ months employed
Splash Auto Finance
9.90% - 31.00%
$5,000 - $50,000
24 - 84 months
Requirements: Min. income of $2,200 /month, 3+ months employed
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Compare up to 4 providers

Bottom line

Getting several quotes from different online sources can help you get a more accurate picture of car’s value in Canada when you want to sell it or refinance your car loan. In cases where you need a certified estimate, however, you might have to pay for a professional appraisal. You can learn more about auto financing with our guide to car loans.

Frequently asked questions about your car’s value in Canada

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