'Car Value' and OSAP

[leescait]

Hey guys,

 

I'm trying to buy my car and it's gotten a bit difficult! According to McMaster financial aid, I can buy a car valued at under $10 000 using the Blue Book Value without it affecting my OSAP. I'm aiming for under 10 grand, obviously, with the accumulation of debt leering at me and my desire for interest-free (if temporarily) debt.

 

So my question is - how do we find the Blue Book value? I can only find the Kelly Blue Book online, which is in American dollars. Also, are we looking at Trade-in value (which is what I would expect, because OSAP is looking for assets) or are we looking at suggested retail price (MSRP)?

 

I emailed Mac Fin Aid but haven't heard anything yet, so anyone wno knows would be really helpful.

[sp1nz]

In Canada, we use the Black Book instead. You need a subscription for it (pretty expensive)

 

Give me the Model year, Model, Suffix and type of condition (ie. Rough, Avg, Clean, Super Clean) and I'll price it for you

[mavrik13]

The KBB is pretty accurate - look at the closest major city to the border (i.e. for Mac, I would try Buffalo), and just go with that value. If you can get Black Book value, that would obviously be more accurate... but it likely wouldn't be a huge difference.

[naspec]

Search autotrader for cars under $10k. Dealers especially will mark the price up waay above what it's worth, so you should have a pretty safe margin of error. If the price is too far below it's KBB value, then walk away because there's got to be something wrong with it (previous wreck, flood damage) that they want to get rid of it quickly.

[emac2014]

Can you give me the value for a 4 door honda civic DXG, 2007?

[ChemPetE]

You can also check the black book value for free by pricing a car on Toyota Canada's website as a trade in.

[CharmingHedgehog]

buy a car under your parent's name. Your osap won't be affect at all then. had a friend with a crappy old car and still barely gets OSAP cuz his assets are "too high"

[rmorelan]

buy a car under your parent's name. Your osap won't be affect at all then. had a friend with a crappy old car and still barely gets OSAP cuz his assets are "too high"

 

Pretty common trick I believe OSAP has some strange obsession with cars.

[sp1nz]

sp1nz -can you give me the Black Book value for Mazda 3 Sport 2004 base model with a little over 100,000 KM and average condition? MUCH appreciated

 

Hey

 

The June 1st 2011 BB Guide value is:

 

Retail:

 

$7450 for the Sport GS

$8350 for the Sport GT

 

Hope this helps!

[sp1nz]

Can you give me the value for a 4 door honda civic DXG, 2007?

 

The Jun 1st BB Guide value is:

 

Retail:

 

$11325 (assuming it is in 'average' condition)

 

Hope this helps!

[medtech]

Can anyone give me a price on 2001 Honda Accord LX, 4 door, 4 cylinder, 100,000km, average condition?

[sp1nz]

Can anyone give me a price on 2001 Honda Accord LX, 4 door, 4 cylinder, 100,000km, average condition?

 

The Jun 1st 2011 BB Guide value is:

 

Retail:

 

$4125

 

Hope this helps!

[CharmingHedgehog]

Pretty common trick I believe OSAP has some strange obsession with cars.

 

It's dumb. What's the use of selling your car then have no way of getting anywhere in the city =(

[medtech]

The Jun 1st 2011 BB Guide value is:

 

Retail:

 

$4125

 

Hope this helps!

 

Thanks! I'm glad it's under $5000 because for single students any vehicle above $5000 is held against you for OSAP funding

[DocT7]

sp1nz - you're the best!!!

[rmorelan]

It's dumb. What's the use of selling your car then have no way of getting anywhere in the city =(

 

I had a serious conversation with on osap rep who was quite open about them believing you should just take the bus, which I guess for most students is quite possible (if annoying in some cases )

 

Doesn't quite work for clerkship when your rotations often start before buses are even running though.

[emac2014]

Hey

 

The June 1st 2011 BB Guide value is:

 

Retail:

 

$7450 for the Sport GS

$8350 for the Sport GT

 

Hope this helps!

 

Could you quote me a 2007 civic DXG 4 door pls? I want to make 100% sure I know the value, cuz it has to be in my name.

[pingu]

Could you quote me a 2007 civic DXG 4 door pls? I want to make 100% sure I know the value, cuz it has to be in my name.

 

He already did. $11325 (assuming it is in 'average' condition).

 

sp1nz, where are you getting these values? Is there something I can register for and access?

[emac2014]

He already did. $11325 (assuming it is in 'average' condition).

 

sp1nz, where are you getting these values? Is there something I can register for and access?

 

Yep thanks, didn't see 2nd page when I posted.

[sp1nz]

He already did. $11325 (assuming it is in 'average' condition).

 

sp1nz, where are you getting these values? Is there something I can register for and access?

 

 

I'm getting these values from the Canadian Black Book. You can register for the subscription, but it is very expensive (usually only dealers and automotive companies would buy the subscription).

 

I currently work for an automotive-financing company, so I have this tool at my disposal and I don't mind helping out!

[Anne]

Hey

 

The June 1st 2011 BB Guide value is:

 

Retail:

 

$7450 for the Sport GS

$8350 for the Sport GT

 

Hope this helps!

 

AWESOME! thanks!

[chrail]

haha... guess I should have messaged sp1nz as well. I estimated that my car was worth $11,400 and OSAP just informed me that it's really worth $17,025.

 

Considering I paid $17,000 for it last summer with 30K less clicks on it, that seems like robbery to me. Seriously, OSAP is CRAZY when it comes to cars!

 

Bye bye OSAP loan!

[pingu]

Could you give me the value of the:

 

2005 Honda Civic LX Special Edition Sedan 4D?

2005 Honda Civic EX Special Edition Sedan 4D?

 

Thanks sp1nz!

[sp1nz]

Could you give me the value of the:

 

2005 Honda Civic LX Special Edition Sedan 4D?

2005 Honda Civic EX Special Edition Sedan 4D?

 

Thanks sp1nz!

 

 

2005 Honda Civic LX Special Edition Sedan 4D: $7875

2005 Honda Civic EX Special Edition Sedan 4D: not listed, but may be refering to the SE which is $6975

[skiordie]

sp1nz - do you mind giving me a quote for a 2003 Dodge Caravan, ~130 000km, good/average condition? I'm hoping to god it's not worth over 5k... :S