Does my location influence the resale value of my car?
Have you ever wondered what your car is worth? Canadian resale values can vary between provinces, so where you live can have a direct impact on the value of your vehicle. As a car owner, it is important that you know what factors can influence the resale value of your vehicle and the ways to keep the resale value high, even if you move from one province to another.
Consider the following factors that can influence Canadian resale value in different provinces:
Temperature conditions can influence the value of a vehicle
Weather conditions have a big impact on Canadian resale values. Depending on where you live in Canada, your vehicle is exposed to different road and temperature conditions.
You rely on your vehicle to perform regardless of the weather conditions you encounter. In some provinces, the temperature can change in the blink of an eye. Living in provinces with harsh winters means you may be exposed to variances in the Canadian resale value of your vehicle.
Harsh winter conditions like storms, icy roads and low visibility can increase the risk of an accident
Cold temperatures are hard on motors and batteries
Other conditions like acid rain can affect the value of a vehicle, as it deteriorates the surface of the car over time. Keep these factors in mind when buying or selling a vehicle and always obtain a Vehicle History Report from CARPROO F to confirm where the vehicle was registered and if any accidents have been reported. .
Different provinces deal with winters in different ways, which can also influence the value of the vehicle. Some provinces use salt to melt ice and snow on the roads, while others opt for sand as a solution. Both can damage the vehicle, but in different ways. Learn more here .
Certain seasons benefit certain vehicle types more
Getting a good price for a vehicle is very much about supply and demand. When you want to sell your vehicle, wait until the temperature is most favorable for the specific style of your vehicle. For example, it would be better to sell your convertible during the summer months, while your SUV could see its value increase as winter approaches.
On the other hand, the climate of a province can also have an impact on the value of a vehicle throughout the year. If you live in a province with extreme cold and snowy winters, a coupe might not be as useful as a 4×4 truck. On the other hand, a big truck might be worth less in a province where you see little snow and ice.
World events can influence Canadian resale value
World events can also influence the value of your vehicle. Fortunately, CARPROOF’s Vehicle History Report shows you where the vehicle was registered in the past, helping you determine if the vehicle was previously registered in an area affected by flooding. It can take time for flood-damaged vehicles to dry out and be resold. Always check for signs of flood damage before buying a used car.
Industry Determines Canadian Resale Value
The industry also influences which vehicles are popular in different locations. Major industries differ greatly by province. In urban environments, vehicles are generally used to transport between work, home and events, making vehicles smaller, useful and popular. However, trucks and other 4×4 vehicles are popular in rural and industrial areas where many people are employed on farms and on construction.
Whether buying or selling a vehicle, you want to get the best bang for your buck. Even though the Canadian resale value varies over time, there are precautions to take in order to improve the value of a vehicle.
Consider the variable weather conditions in your province, the major industries in your area, and how world events can affect the resale value of your vehicle. Learn the vehicle’s value now with the free value range tool .
