Finding the list price for a used car
Vehicle list prices are one of the comparison tools used to appraise a used vehicle. In other words, it’s the fair price to pay for a given model that’s in perfect condition.
hat are list prices for?
List prices come in handy if you want to sell or buy a used car. They can also tip the scales on your decision to fix or sell your vehicle when it’s in need of a major repair. For example, if the estimate for the repair is $2,000 but your vehicle is only worth $3,500, you probably shouldn’t invest that much to get it fixed.
What factors influence a vehicle’s list price?
There are a range of factors that can push the price of a vehicle up or down, such as the condition of the motor and the vehicle body. Other factors include market conditions, the part of the province you live in, the mileage…even the colour of the vehicle can directly impact its value.
How to find a vehicle's list price?
There are a number of different sources you can use to determine the value of a used vehicle. These include the Canadian Black Book, the Red Book, the Blue Book, the book for leisure vehicles, the “Hebdo” book, and sites like autoHebdo.net. In general, the books are much the same, but it can be a good idea to compare them.
CAA-Quebec's Automotive Advisory Services use a mix of references, with a good dose of automotive advisor experience and expertise, to provide a price. Members can use this exclusive service to get a list price for free.
The list price doesn’t tell the whole story
Some things aren’t reflected in the list price, including the value of an extended warranty, the fact that it could be a rebuilt salvaged vehicle, rustproofing treatments, a second set of tires (with or without rims), optional features like a remote starter or an immobilizer, a tow kit, or aftermarket accessories. But those add-ons can make a big difference in terms of how quickly the car sells.
Good to know
The exact sale price between a private buyer and a private seller will differ from the list price. Same thing goes if you trade your car in at a dealership, in which case it will definitely be lower.
Vehicle inspections: A good way to get a fair price
A proper inspection report for your vehicle from a trusted garage, like one of CAA-Quebec’s authorized Vehicle Inspection Centres, can help justify your asking price. It also never hurts to show potential buyers the invoices for any maintenance work done on the vehicle. This will reassure the buyer that you’re responsible and that the vehicle has been kept in good shape.