The make, model, color, options: these are just a few criterias that will influence the resale value of a vehicle.
The Origin of the Vehicle
A vehicle that was originally sold in Canada is assuredly worth more than a vehicle that was sold in another country, even in the United States. The reason is quite simple: a vehicle originally intended for the Canadian market was designed to meet specific safety and emission standards. Moreover, it was modified and adapted to evolve in more rigorous weather conditions. Therefore, a Canadian vehicle will always be worth more than its counterpart from another country.
Make & Model
No matter how hard we try not to discriminate any manufacturer, the truth is that the make and model of a vehicle do matter. In fact, vehicles produced by well-established manufacturers are always worth more than their counterparts designed by newest brands. For example, the Honda Civic and Toyota Corolla are still among the most reliable, best-selling pre-owned cars and are usually sold at a higher price than, let’s say, a Kia Forte. Reliability and notoriety are two key elements that will naturally influence the resale value of a vehicle.
Every five or ten years, most manufacturers release special edition models to celebrate a special anniversary. These vehicles are usually manufactured in small production lots and are therefore harder to find as pre-owned models. Usually better equipped and aesthetically different, special edition models are sometimes also sold at a higher price than their regular counterparts.
On the other hand, some vehicles might be harder to find simply because they enjoyed less success. Unless you are able to find a buyer that wants your vehicle real bad, you might have to settle for a lower price than expected. The reason is that replacement parts are most of the time harder to find and more expensive than those of a highly popular model such as the Honda Civic.
All pre-owned sales manager agree on one point: a vehicle with an extravagant exterior color will be harder to sell than a black, gray, beige or white car. It’s a question of supply and demand. The truth is, there are simply not as many potential buyers who are looking for a lemon yellow or apple green vehicle as those who are willing to settle for a neutral color.