Trading your vehicle in with us is a quick and simple way to convert the value of your current vehicle towards the purchase of a new or used vehicle at Sherwood Park Toyota. Below are a few questions and answers to clarify the trade-in process.
What is an appraisal?
An appraisal is an evaluation of a vehicle, which represents a dealer’s assessment of what the dealership would be willing to pay you for your vehicle. This offer to purchase may be contingent on your purchase of another vehicle from the dealership.
Where do I find information on the market value for my used vehicle?
Why did my selected Toyota dealer offer less for my trade in than what the website showed?
Sherwood Park Toyota is pleased to present you with an estimated trade-in value of your vehicle based on figures provided by an independent third party, Canadian Black Book®. These Canadian Black Book® figures are for reference purposes only. The actual cash value of your vehicle can only be determined through an appraisal at Sherwood Park Toyota. It may be less, the same, or more than the figures presented by Canadian Black Book® depending on the condition of the vehicle.
Must I have my trade-in evaluated at a dealership?
Yes. If you wish to trade in your vehicle, your Sherwood Park Toyota must conduct an appraisal of this vehicle.
How do I know that another dealer won’t offer me more for my trade in?
By providing sellers with a reliable third party source, Sherwood Park Toyota is reducing the necessity of seeking numerous quotations within a given geographical market. Dealers are free to set individual appraisal values.
Wouldn’t I be better off financially to sell my current vehicle privately?
There may be costs involved with selling your vehicle privately. Many customers find that the convenience of trading in their currently owned vehicle, plus the tax savings it provides on the new vehicle purchase, provide a benefit when compared to the time requirements, financial costs (such as advertising, vehicle repairs), and hassle, of selling a vehicle privately.
The prices in the newspapers are higher than what I see on your website for my current vehicle? Shouldn’t the dealer match those prices?
These prices reflect what the advertiser is asking for the vehicle, not necessarily what it will sell for. Many customers find that the convenience of trading in their currently owned vehicle, plus the tax savings it provides on the new vehicle purchase, provide a benefit when compared to the time requirements, financial costs (such as advertising, vehicle repairs), in addition to the hassle of selling a vehicle privately.
I have heard of the Red Book / Blue Book. What is the Black Book?
Canadian Black Book® is a highly regarded and extensively used independent third party organization, specializing in the valuation of used automobiles in Canada. Sherwood Park Toyota is pleased to present you with this third party data as a reference in estimating the value of your current vehicle. The actual cash value of a trade-in vehicle can only be determined through an appraisal at Sherwood Park Toyota.
Will Sherwood Park Toyota be willing to buy my current vehicle if I choose not to buy a vehicle from that dealership?
This is up to Sherwood Park Toyota to decide and varies on a case-by-case basis.