Here are the answers to the question: ‘What is my truck worth?’
How much is your light truck – pickup, crossover, SUV or cargo van – really worth? Here is how to find accurate truck values.
By Bill Roebuck
Truck values: Finding used light truck prices
1) Get the current Canadian Black Book wholesale value (what it’s worth to a dealer as a trade in) of your used light truck by visiting the Book’s website — look for a direct link to the Black Book site in the Google-supplied ads on this page or find them by searching with your favourite search engine, such as Google. Black Book values are updated weekly based on prices obtained for vehicles at auto auctions across Canada.
Editor’s Note: Black Book asks you to submit your name, e-mail address and postal code before they send you an e-mail link that lets you view the trade-in value of your vehicle. However, the e-mail and link arrive in your inbox within moments, and in our tests over more than two years, we’ve received no inappropriate e-mails or unwanted contact after using this service.
2) For an even simpler pricing website, check out both wholesale values (what a dealer would pay you) and retail values (what a dealer would sell it for) at VMR Canada. Again, see if there’s an ad on this page, or find them by searching with your favourite search engine, such as Google.
3) Visit the Auto Trader magazine online and search for your own vehicle to see what price others are trying to sell similar models for in your area. Similarly, you can also check the prices of vehicles for sale on eBay Motors Canada. You can also do the same to find light trucks for sale on the Kijiji Canadian site as well as Craigslist. Yet another option is to check prices on the onlne automotive auction on ebay.
4) The loans officer at your local bank or credit union should have printed copies of the weekly Black Book (listing wholesale values), as well as the Red Book (retail values) that will help you find an estimate of the current value of your vehicle.
New truck values: Finding the best new-model light truck prices
New light truck pricing and invoice costs can be found at the fee-based CarCostCanada, This site offers new-light truck pricing reports that show what the dealer has paid for your light truck and the incentives available from the manufacturer, so you can figure what the best price should be. A fee of $39.95 gets you unlimited retail price reports plus wholesale price reports on up to five models.
For example, a 2006 Jeep Liberty Renegade had a retail base price of $31,770, which rose to $40,620 with options, freight and other costs. At that time (Feb. 2006), the total wholesale cost for the loaded-up Liberty, according to CarCostCanada, was $37,935, less up to $3,500 in available incentives. Reduced dealer markup and administration fees, which typically cost extra, are offered by specific dealers affiliated with the website. It is recommended you add 3%-5% to the wholesale cost so the dealer can make some profit.
In December 2010, I used CarCostCanada’s pricing to help with negotiations on leasing a new 2011 Honda CR-V for my wife and we saved about $1,400 because of it. Significantly, there was no resistance from the Honda dealership about the price quoted, nor pressure ‘to add a bit more to the pot’ after the store manager reviewed our offer.