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Car pricing  101


On this page you'll learn about the different factors that make up the price of a used car.

 

Anatomy of your car's value

There's a long list of things that determine a car's current market value no matter how you decide to sell. All car values are determined by these factors: age/year, brand, condition, mileage, accident history, location, popular options & add-ons, supply and demand and timing.

Autozen Tip
Don’t worry about scratches, everyone has them!

anatomy-of-price

 

Sometimes, things are just out of your control, such as:


depreciation

Depreciation

Depreciation happens because the longer the car is on the road, the less likely it will perform the same way as a new car. Every year, new cars come out that perform better, are more efficient and have the newest technology built in. Which then effects the value of every vehicle like it that was purchased before. In normal circumstances, cars can depreciate by over 60% after 5 years.

 

Supply & demand

Buyers consider multiple things such as:

supply and demand

Their own supply
It’s like your bathroom at home, if you’ve got enough toilet paper to last a month, then you probably won’t be buying any from the grocery store. But your neighbour that just ran out, would be on the hunt and probably won’t think twice about the price.
Market demand
Just like fashion trends, cars experience phases too that affect their value. Whether it be EVs because gas prices are too high, or vehicles with cooling seats in during hot summers.
Regional differences
Where you live affects the car you’re going to buy. And therefore also the car you’re looking to sell. Let’s say you take your lifted pick-up truck into a big city with narrower roads. Suddenly your pool of potential buyers has now gotten a lot smaller.
Preferences of their customers
Dealerships and car buyers spend their days hearing from customers on what they want and what they don’t want. This would directly impact the value they place on certain features of cars they’re looking to buy to fill that demand.

Feeling overwhelmed?
It’s A LOT, we know!

That’s why at Autozen, our team works everyday to understand the market to help you, our sellers, find the one buyer that is willing to offer the most. We’re your advocate to understanding all the moving parts to showcase your car in the best light, where 100s of our pre-vetted and hungry car buyers and dealerships will compete against one another on our platform. So rather than dealing with private buyers and dealerships, let us present the best offer from our auction platform.

We understand the market to help you find the one right buyer.

get the top offer from 150 car buyers

 

Things that could help add value


features that add value
  • Features that are in high demand or rare, for example: navigation system, sunroof, leather seats, backup camera, Apple/android car play.
     
  • Factory accessories such as original tires, two sets of keys etc.

  • Tire treads that are not too worn - tire tread depth can impact the value of your car, in fact some dealers will have to replace tires entirely in order to re-sell it. Be sure to let us know if you have an additional set of wheels/tires.

  • Low relative KM for age of vehicle

  • Consistent service records 

  • Less than $5k in accident history (CarFax)

Autozen Tip
Having a “spec sheet” makes a big difference for German cars (BMW/Mercedes etc). Having something that shows your car’s exact add-ons/upgrades helps us identify the features that can really boost your car value.

 

Top 4 misconceptions about car prices

What won't add value to your asking price?

misconceptions about car prices

Listing at dealership prices

The value of your car is not the same as another vehicle you see online.

When figuring out how much to sell your car for, most people go to dealerships, Kijiji, Autotrader etc., to see what other cars are selling for. You find a car with similar year and mileage and decide that your car is worth roughly that amount. Unfortunately, this commonly leads to high expectations and poor experiences when actually selling a vehicle. As explained earlier, every car is different, so it’s hard to make that assumption off the bat. Especially when it comes to dealership pricing, the dealership price includes all the following that the private sellers cannot:
 

  • extra insurance
  • reconditioning
  • vetting condition & backstory
Money spent on repairs

Full-service records of your oil changes and repairs will never come back to bite you-all buyers are more likely to make a purchase if they know it has been well cared for. However, this likely won't add any monetary value to your selling price.

Mods and customizations

These don’t necessarily add value. Mods can be very personal, trendy and niche. In fact, customizations can be a deterrent to buyers who want to appeal to all potential customers of your car.   

Not disclosing things

All used cars have a history and buyers know and expect there to be some wear and tear or bumps and bruises. We do a 150 point inspection of each vehicle that goes to auction to ensure you're getting the price your car is worth at the time and your buyer knows exactly what they are getting.

Avoiding the disclosure of the history and condition of your vehicle won't help your offer price and could end up in your deal falling through.

How Autozen estimates your car valuation

Autozen's initial valuation estimate is based on your car's basic details (year, make, model, and kms) as well as current demand for the model year in the market. We use our own sales data as well as trusted 3rd party data to come to an accurate price estimate.
 
Before showing your car to our buyers, we'll come to you to get the full details of your car, so we can update this estimate to factor in the car's condition and any optional features or packages it may have. This will ensure we get you the best offer possible.
 
Autozen is dedicated to getting you the best price for your car, without the hassles of traditional car selling options.
How Autozen estimates your car valuation

Our happy customers


Andrew & Sansan
2021 Toyota RAV4

"We 100% recommend this service and this company, without a doubt"

Garnet
2020 Tesla Model S

"I couldn't ask for a better experience!"

Selling with Autozen is simple

Forget the complexity and we’ll take care of everything to sell it on your behalf.