2021 Lexus RX

Average Tax Savings:

When you trade in your vehicle at a dealership, a percentage of your trade-in’s value, based on the provincial tax rate, is applied as a credit towards the purchase of your next vehicle.

Here’s an example of how it works in Ontario:

If your trade-in is worth $10,000, the tax credit applied towards the purchase of your next vehicle would be $1,300 (based on a 13% provincial tax rate), resulting in a Total Trade-in Value of $11,300. That’s the advantage of trading-in to a dealership! The credit amount will vary based on the tax rate in your province.

How are these values calculated?

Every used vehicle has a unique history – and that means it also has a unique value. We use information like odometer reading, prior damage, ownership history, service history, use type, location and market trends to determine a custom-built value for each car. For example, you wouldn't expect to pay the same price for a car that has been in an accident versus one that hasn't.

Learn more about History-Based Value