Used car prices

 

AMA offers three sources to research used car prices: Gold Book, Black Book and VMR Canada. Use all three used car price guides to find a representative range of values for buying and selling a used car or truck.

When comparing values derived from each of the used car price guides, there may be discrepancies. AMA is not responsible for any discrepancies in values, nor does AMA determine the values VMR Canada, Gold Book and Black Book provide.

 

Gold Book Car Image Used Car PricesGold Book

Use this member-exclusive AMA service to research used car values from 35 manufacturers. Values are available for cars, light duty trucks, SUVs and vans. Gold Book offers the original manufacturer's suggested retail price, estimated wholesale and current retail values. Regional variations are factored in when you specify Eastern, Western or British Columbia.

 

Black Book Used Car Prices Car ImageBlack Book

Research used car values for vehicles 10-years-old and newer using Black Book, a member-only service. Black Book provides trade-in values, which is what you could expect a dealer to give you when trading in your vehicle. Don't forget to factor in mileage and general condition of your vehicle in the value you obtain. Also add 10% to the price for Alberta values.

 

VMR Canada Used Car PricesVMR Canada

VMR Canada is a consumer-oriented guide for used vehicle pricing, which includes both wholesale and retail values. Use this free service to research used car and truck values. Add 5% for Alberta values.

 

 

Keep in mind for used car pricing services:

  • The publisher generating the values doesn't have a chance to see the actual vehicle. Instead, they provide a value for an average representation of the vehicle. 
  • A vehicle's condition directly influences its value. The better the condition, the higher the value. No two vehicles are exactly the same, so guides provide an average. Vehicles in high demand will usually have a higher value.
  • If there is a wide discrepancy in values, you can expect the marketplace to reflect that. It usually means that even those within the industry cannot agree on one value. 
  • It's difficult to directly compare values because each source arrives at its values in different ways and from different sources like dealers and auctions. 
  • One value guide provider may monitor markets in Eastern Canada and suggest a regional adjustment, while another publisher may monitor Western Canadian markets more closely, providing a more accurate value. 
 

Buying and selling used cars - terms to know

Wholesale:
The amount a dealer can expect to pay at an auction.

Retail:
The amount a private buyer can expect to pay a dealer. This accounts for inspection, reconditioning and financing costs.

Trade-in:
The amount a private individual should expect to receive on trade-in at a dealership.

Private sale:
Value an individual can expect to pay when purchasing from another private individual. Usually falls between the retail and wholesale values.