What Affects Your Vehicle's Value

Mileage is one of the biggest factors in your car's value. Every 32,000 km added results in approximately 20% value loss. Depreciation is most rapid between 20,000-60,000 km, then slows down after 100,000 km. The average Canadian drives 20,000-25,000 km per year, so vehicles above or below this average will be valued accordingly.

Yes! Highway driving is generally better for a vehicle than city driving. Highway kilometres mean consistent speeds and less braking, resulting in less wear on the engine, transmission, and brakes. City driving with stop-and-go traffic causes more wear. A highway commuter car with 150,000 km may be in better condition than a city-driven car with 100,000 km.

Surprisingly, yes. Very low mileage can indicate long periods of inactivity, which brings its own problems: dry rot on tires, rust from sitting, fluid buildup, and deteriorated seals and gaskets. If a car has unusually low mileage for its age, buyers should check for signs it's been sitting unused for extended periods.

Vehicle condition is typically categorized from most to least valuable as: Excellent (like-new condition, minimal wear), Good (minor cosmetic issues, mechanically sound), Fair (visible wear, may need minor repairs), and Poor (significant issues, major repairs needed). Most used vehicles fall into the Good or Fair categories.

The main factors assessed are: Exterior (dents, scratches, rust, paint condition), Interior (stains, tears, wear on seats and carpet), Mechanical (engine, transmission, brakes, suspension), and Electrical (all systems functioning). Mechanical condition usually matters most - a car with minor cosmetic issues but excellent mechanics is worth more than a clean car with engine problems.

Major components have the biggest impact: engine problems, transmission issues, suspension damage, and brake system wear can significantly reduce value. Minor issues like AC not working, small electrical problems, worn tires, or minor oil leaks have a moderate impact and are usually factored into offers rather than being deal-breakers.

Accident history can significantly reduce a vehicle's value. Collision claims, flood damage (which severely impacts value), fire damage, and rebuilt or salvage titles all negatively affect what buyers will pay. Multiple owners can also reduce value, as it may indicate problems or heavy use.

Positive history factors include: single owner (shows stability), complete service records (proves maintenance), no accident history (peace of mind for buyers), and dealer-maintained service (often more thorough). If you have service records, keep them - they can increase your car's value.

In BC, the ICBC Vehicle Claims History Report shows damage claims made through ICBC. For a more complete picture including other provinces and countries, CARFAX Canada provides comprehensive history. Service records from the seller are also valuable for verifying maintenance history.

Several market factors influence value: fuel prices (high gas prices increase demand for fuel-efficient vehicles), seasonality (trucks and SUVs are more valuable in winter), supply chain issues (can increase used car values), and new model releases (can decrease older model values).

Yes, BC has some unique factors: road salt exposure in some areas raises rust concerns, the mountain and coastal climate can affect certain vehicles, and winter capability (AWD, 4WD) is valued in many parts of the province. Vehicles with good snow/winter performance often command a premium.

Toyota and Honda consistently have the best resale value with slowest depreciation. Toyota sees only 10-15% annual depreciation, with the Tacoma, 4Runner, RAV4, and Corolla being top performers. Honda's Civic, CR-V, Accord, and Pilot also retain value well. Pickup trucks as a category have the best value retention at only about 20.5% depreciation over 5 years.

On average, vehicles lose 20-30% of their value in year one alone, then 8-12% each subsequent year. After 5 years, the average vehicle has lost about 55% of its original value. However, this varies significantly by vehicle type and brand.

Five-year depreciation by vehicle type: Pickup trucks depreciate only about 20%, SUVs lose 40-50%, sedans lose 45-55%, and luxury vehicles lose 50-60% of their value. If you're concerned about resale value when buying, trucks and SUVs are typically better investments.

Canadian Black Book is the industry standard for wholesale vehicle pricing in Canada. It's used by ICBC for PST calculations. The data comes from dealerships, auctions, and sales, and is updated daily. Values are VIN-specific, meaning they account for exact specifications of your vehicle.

When you sell privately in BC, PST is calculated on the higher of your purchase price OR the Canadian Black Book value. This means even if you sell below book value, the buyer may still pay PST on the higher Black Book amount. Buyers can get an appraisal if they believe the value is lower - if both the appraisal and purchase price are below book value, PST applies to the higher of those two.

No, Black Book reflects wholesale market prices - what dealers pay at auctions and when purchasing from other dealers. Private sale prices are typically higher than wholesale. When selling to a dealer or car buying service like us, expect offers closer to wholesale value, but you gain convenience and speed in exchange.