Let's start off by talking about what is "Actual Cash Value"? It is the real amount of money that your vehicle is worth to a cash buyer, right here, right now. It is a powerful negotiating tool that you can use when you are selling or trading in your vehicle.
How much is my car worth?
Determining the cost/value of your car is based on a number of details, starting with the year, make and model of your vehicle, its' mileage and condition. Many other appraisal methods, like Black Book or various websites, will give you a range or an estimate of what your vehicle is worth. However, we give you a REAL figure, in dollars and cents, based on your SPECIFIC vehicle.
Now let's talk about the process. First, you have to make an appointment for an appraisal at our location in North Toronto. You can either do this by telephone or by using our appointment page. You should expect to spend about half an hour with us.
A qualified car appraiser will interview you about your vehicle asking various questions such as "How long have you owned it?, Have there been any accidents? The vehicle service history." etc.
We will then test drive your vehicle for a short distance to assess the overall mechanical condition. Your vehicle will be checked for cosmetic flaws such as dents, broken glass, missing emblems, bald tires etc. In some cases your vehicle may go up on a hoist for further inspection.
Within 24 hours you will have the Actual Cash Value of your vehicle. You can use this to negotiate a better deal on trading it in on a new vehicle, or know how much to ask for it if you are selling it privately. You can also take advantage of our on the spot cash program where we will purchase your vehicle from you for the Actual Cash Value.
How do you come up with the dollar value?
At TradeInMyCar.ca we've been in the car industry for over 25 years, and have appraised almost every car, van, SUV and truck out there. In fact, we've probably looked at a vehicle just like yours and know what the current market will pay for it.
We go over and above the standard assessment procedure. For example, we consider your vehicle's colour - a three or four year old high end luxury vehicle in a conservative colour like black, grey or silver could be worth a few thousand more than the exact same vehicle in bright red or green. That's one of the reasons book values don't work, since they do not factor in details like this.
Plus we have a network of car experts across Ontario who can give us their input. And we cross reference all major national auction sales reports and lease company sales reports.
When your TradeInMyCar.ca appraisal is finished, we'll explain to you EXACTLY how we arrived at the value and let you know what impacted our final figure.
Did you say you woud buy my vehicle?
That's right. For example, if you're trading in your vehicle for a new one and the dealer you're negotiating isn't willing to match our appraisal value, TradeInMyCar.ca can do a three-way trade. You can use our value on the new vehicle deal and we'll purchase your vehicle from the dealer when your transaction is completed.
Please note that our values aren't always higher than the dealer you're buying a new vehicle from. It's possible they may offer you more. However, you'll have TWO competitive bids for your vehicle that will give you the confidence that you have been given the proper value for your trade-in.
But - if you want to go home from your TradeInMyCar.ca appraisal with a cheque in your pocket, we WILL make you an offer!