Why do we provide price guidance?
AutoTrader helps Canadians shop with confidence by letting you know when you’re getting the best price. Today, there are so many car models available and endless combinations of equipment and features; and that makes it difficult to know how much a car is worth.
With the most cars for sale in Canada, AutoTrader has access to data about millions of cars, allowing us to accurately assess the price of a car. Our independent analysis means you get unbiased information about vehicle pricing with no second-guessing, making your car shopping experience simple and straightforward.
How do we do provide price guidance?
For every vehicle listing, we compare all similar vehicles based on its specifications – like make, model, year, mileage, transmission, trim, and options – and take into account your local area/market to calculate the price range.
We then use live market data to rate the price and details – with no influence from the sellers. This ensures full independence of the rating process and provides pricing guidance you can trust.
The result of all this number-crunching? An easy-to-read AutoTrader Price iQ badge that you will find on vehicle listings across our marketplace.
What do the price badges mean?
Vehicles are assigned a grade based on their price relative to similar vehicles in their area. The Price iQ badge is colour-coded to let you scan a page of listings and easily identify the vehicles with the best prices.
What factors are NOT considered in AutoTrader iQ:
AutoTrader iQ looks at many aspects of a vehicle in its calculations, but there are some factors that aren’t easily quantified, such as:
- Private sale
- Aftermarket options (e.g.: self-installed roof rack, third-party towing package, etc.)
- Vehicle usage history (e.g.: smoke-free, pet-free, etc.)
- Accidents and claims against the vehicle
It’s difficult to determine what impact these factors have on the price and the perceived value of a vehicle – for example, aftermarket parts may be attractive to certain shoppers but drive away others. For this reason, they are not considered for price guidance.
Why don’t you provide price guidance on new cars?
Pricing is similar across new vehicles because it’s based on the manufacturer’s suggested retail price (MSRP). When shopping new cars, used-car criteria such as mileage don’t factor into the equation, so it’s simple to compare prices as they are.