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Thread: How do you know if a used car is a fair price?

  1. #1
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    Default How do you know if a used car is a fair price?

    Curious to know what beyonders use to determine what a fair price for a used car is...

    I've always used vmrcanada and if the price is around the wholesale price i know I'm getting a decent deal... But sometimes I feel their quote is way off, same with CBB online...

    What do you guys use? Do you just go on Kijiji and see what other are asking? What if it's a rare vehicle? This method works great for houses cuz you can find it what they actually sell for but how do you know how much cars are actually selling for?

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    I look at book value and kijiji
    Last edited by kvg; 02-10-2017 at 08:12 PM.

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    I compare on kijiji and autotrader for ballpark. Then it's up to me based on preferences and condition. I don't like book value unless the car is fairly new.

    If it's rare, then it depends how bad I want it. Appraisals can be a good place to start, but never pay full price.

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    Depends how old. Book value for a 10 year old car doesn't mean much, so I'd go to kijiji at that point. There are also local market factors that book value doesn't account for.

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    I am pretty picky on buying new(used) vehicles so once i decide what I want typically watch kijiji for weeks/months until the exact vehicle comes along. Pretty soon you know what is good and what is bad and you are on top of exactly what is on kijiji and when something new pops up vs a repost.

    This can be a bit tougher with super common vehicles like Civics but once you narrow down your search it is doable.

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    If it sells, it's a fair price. If you'd kick yourself for not buying it, then it's a fair price.
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    ^^
    lol well yes.

    Interesting. that VMR site's value is about 15% lower than the black book value website. If I listed for the VMR price I think my car would be gone in a day lol

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    Originally posted by J-hop
    Depends how old. Book value for a 10 year old car doesn't mean much, so I'd go to kijiji at that point. There are also local market factors that book value doesn't account for.
    Kijiji is probably the best way to gauge what its worth imo.

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    Thanks for the suggestions
    Last edited by Sonic; 02-11-2017 at 03:31 PM.

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    Most of the stuff that you see on kijiji has been sitting for weeks only to get reposted. As a seller you should be prepared to deal with buyers who 1. don't have money 2. spend time looking at cars 3. low ball you 4. 1 in 5 who call you will actually show up.

    I've always priced it aggressively and its generally gone within a day or so. Use VMR and price it in between wholesale and retail. See what kinda response you get and go from there.
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    vmr is useless

    Kijiji... search year make model trim , price lowest to highest, compare.
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    ^ Redlyne_mr2, clear your inbox!!

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    Redline.... There is always huge markup between retail and private... Do you suggest ignoring dealer ads?

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    Originally posted by ragu
    Most of the stuff that you see on kijiji has been sitting for weeks only to get reposted. As a seller you should be prepared to deal with buyers who 1. don't have money 2. spend time looking at cars 3. low ball you 4. 1 in 5 who call you will actually show up.

    I've always priced it aggressively and its generally gone within a day or so. Use VMR and price it in between wholesale and retail. See what kinda response you get and go from there.
    I had one guy try to hustle me over the firm on a already well-priced vehicle I was selling. Told him the price is firm as I was getting non-stop calls on it. He said 'you should take down the ad, I will come in the morning first thing with cash". Never heard back from him

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    Originally posted by Redlyne_mr2
    vmr is useless

    Kijiji... search year make model trim , price lowest to highest, compare.
    Yup. Had people offer me what VMR said before and I told them to f off. I check kijiji and canada trader to see what the ball park is as that is market value.

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    Kijiji high to low. Ignore dealer ads as the price is padded of course to cover expenses/profit. I'd also say stick to your province, although sometimes I'll check BC/Sask.

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    Okay, I posted my G37X here for a few days with no response other than from a scammer.... Am I pricing it too high? It's tough because there's not a lot comparables especially in the private market.... I've yet to post on Kijiji because I hate dealing with people on there.

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    Originally posted by Sonic
    Okay, I posted my G37X here for a few days with no response other than from a scammer.... Am I pricing it too high? It's tough because there's not a lot comparables especially in the private market.... I've yet to post on Kijiji because I hate dealing with people on there.
    Can you link your ad please?

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    Give it more time 1-2 weeks and see. Not everyone checks marketplace right away. I have sold all my cars through beyond so I am not bothering with trader or kijiji anymore.

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    A updated carproof and inspection report goes a long way

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