Vehicle Resale Value

Car Resale Value

So you’ve owned a car or truck for some time now and would like to get the maximum resale value for your current vehicle? You want to purchase a new or pre-owned vehicle and would like to to know more about how to pick the right vehicle? Let us provide you valuable information about what to look for and what to avoid to optimize your vehicle's resale value.

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The first thing one will notice when getting closer to your car is how it actually looks. Has the vehicle been taken care of both inside and out in the past?

The Cabin

Behind the wheel is actually the place where the owner will spend most of its time. Naturally, when you look at a pre-owned vehicle you can’t expect the cabin to be as clean or flawless as that of a brand new one. However, there are several key elements to look at to know what needs to be done or what has already been done:

  • Carpet, seats and fabric condition: look for stains, dents or burn marks.
  • Plastic condition: any missing, broken or scratched parts?
  • Cleanliness and odors: Did the previous owner smoke in its vehicle? Was the vehicle used for delivery? Does it look like or smell like a garbage can?

While this is not an exhaustive list, it does feature most key points that will influence the resale value of a vehicle.

Exterior Look & Condition

Visually speaking, how does it look? Are there traces of rust, dents, marks, scratches? Is the paint even all around or are there matte spots? How are the body parts? Are there any missing or broken parts? Don’t forget the windshield. Is it in perfect shape or is cracked or scratched? In some cases, a quick visit at a certified car detailing service provider can help you obtain a higher resale value for your vehicle. Treatments like paint decontamination, wax and polish or the application of an active compound can correct several flaws at a low cost and in no time. Never forget, a clean looking vehicle is always more attractive than a dirty or rusty one.

An essential information that shouldn’t be overlooked, the vehicle’s history reveals a ton of highly valuable information. It’s quite simple, it’s pretty much the same as when you shop for a house, you want to know what kind of work has been done lately and what needs to be done. An inspection performed by a specialist should provide all the information you need.

On the other hand, if you are trying to sell your vehicle, gather all the receipts regarding the latest performed maintenance services and repairs. This helps build trust between you and your potential buyer and also justify a slightly higher price.

CarProof® & Accident Reports

A vehicle that has never been involved in an accident is worth more than its counterpart that was unfortunately not so lucky. Easy to find on the Internet and available for a few bucks, the CarProof® report sheds light on the vehicle's history. Furthermore, the CarProof® report includes the following details:

  • Reported Accidents and Damage Estimates

  • Lien Records

  • Canadian Registration

  • Stolen Status

  • U.S. History

If your vehicle has been involved in an accident, try to provide as many details, receipts and reports as you can. Circumstances of the accident, damage estimates, etc. After all, it’s a matter of trust.

The make, model, color, options: these are just a few criterias that will influence the resale value of a vehicle.

Vehicle Origin

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.

Scarcity

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.

Exterior Color

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.

Sell Myself or Trade in?

Quite possibly one of the most interesting dilemmas you might be facing when shopping for a new car. How can I get the most out of my car, should I sell it by myself or trade it in for a new one? The answer is actually quite simple: with all the tools, third-parties and other information available on the Internet, selling a vehicle by yourself will almost assuredly deliver better results in terms of price.

That being said, selling a vehicle might also require some time and patience. While it might not be the most complicated operation, be prepared to receive a few calls or emails from potential buyers who want to negotiate over the phone and actually never show up to their appointment or people asking you to ship your vehicle overseas (beware of scams), as well as tire kickers or lowballers. At the end, the juice is still worth the squeeze, at least in most cases.

On the other, if you decide to trade in your vehicle to a Groupe Park Avenue dealership, here’s a glimpse of what you’ll get:

  • A selling price and the value of the two applicable taxes.

  • Skip the SAAQ line, we take care of everything right at the dealership.

  • An effortless and transparent transaction. No time wasted on the creation of one or several ads.

  • A price that reflects the actual market.