Canadians are increasingly turning to online sources for information on what their trade-in is worth before negotiating to buy another vehicle, according to a survey commissioned by Canadian Black Book (CBB).
Online value calculators such as CBB still don’t rank highly with consumers researching their next purchases. Opinions of friends and family, press reviews, classified ads and automakers’ build-and-price tools come ahead of them, the poll conducted by Ipsos Canada found.
Just seven per cent of respondents used such calculators for basic research, but the figure jumped to 60 per cent when it came time to evaluate their trade.
That’s reassuring, Brian Murphy, CBB’s vice-president of research and editorial, told Automotive News Canada. Its free public site gets about 500,000 visitors a month, 200,000 of whom look up the value of their vehicles, he said.
The survey found 22 per cent of respondents had used the CBB calculator.
“There’s still a pretty large chunk of the population, about a third, that think we exclusively cater to dealers, which isn’t true anymore and hasn’t been true for six years or so,” Murphy said.