How valuation gaps happen
Most settlement offers come from a desktop valuation built on comparable listings. It's a reasonable process, but it works from limited information — and a few things routinely go missing:
- Trim mismatch. A base-model comparable priced against a loaded trim understates value. This is the single most common gap.
- Options not captured. Sunroof, tow package, winter tire package, upgraded audio, driver-assist bundles — if it isn't in the file, it isn't in the number.
- Mileage not adjusted. Comparables with substantially higher kilometres should be adjusted upward before averaging.
- Recent replacements. New tires, brakes or a recent major service represent value that a listing-based valuation can't see.
- Geography. Listings from a different market can carry different pricing than your own.
- HST. Confirm the settlement accounts for the tax you'll pay replacing the vehicle.
What makes a review effective
- Match before you compare. One well-matched comparable is worth more than five loose ones. Same year, same trim, similar kilometres, your region.
- Show your adjustments. An adjusted figure with the reasoning attached is verifiable. A raw asking price isn't.
- Use asking prices carefully. Listings are asking prices, not sale prices — acknowledging that openly makes the rest of your evidence more credible, not less.
- Attach the proof. Screenshots with VINs and links; receipts for recent work.
- Keep the tone professional. Adjusters revise numbers when new information justifies it. A measured, documented request gets read and actioned; an adversarial one gets escalated and slowed down.
- Ask for the file. Request the full valuation report and the options list it relied on. Most gaps become obvious the moment you can see the inputs.
Before you finalize anything: don't sign a release or cash a settlement cheque while a review is outstanding, and if the vehicle is financed, keep the lienholder in the loop — settlement funds go to them first.