Maxing the trade-in value of your old car

Is your car valuable? Use the calculator at canadianblackbook.com to determine the approximate trade-in value of your vehicle. You can also learn the average asking price for the same vehicle, giving you a guideline as to how much you might get selling privately. For example, a 2006 base model Dodge Caravan with 100,000 kilometers has a trade-in value of $4,960 to $6,810. Asking price for the same van is $7,900 to $13,000.

Is your car a clunker? Donating it through charitycar.ca will earn you a charitable tax receipt worth a few hundred dollars and plenty of good karma. The exact amount of your tax receipt will vary according to the value of scrap metal in your city, but generally falls within the $200 to $400 range.

Getting a new car? Read on: How to get the best deal on your next car>