? How to Value a Used Car ?
#1
01-21-2013, 06:46 AM
? How to Value a Used Car ?
How to Value a Used Car ?
Hi Member's, several of our member's are buying used cars & some are selling their used cars.
I thought the below has some useful information on buying & also selling a vehicle ? I hope it helps someone..Good Luck...EnJoy
Hi Member's, several of our member's are buying used cars & some are selling their used cars.
I thought the below has some useful information on buying & also selling a vehicle ? I hope it helps someone..Good Luck...EnJoy
By Keith Griffin, About.com Guide
Introduction: The Three Pricing Levels
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Valuing a used car is both objective (year, make, and model) and subjective (appearance and condition). Normally, this would not be an issue if all cars were identical. Unfortunately, used cars are all very unique.
While two cars may be identical in age, outward appearance, and options, their values may be very far apart on the secondary market. This requires nearly all used cars to be valued individually to establish pricing.
There are three different established price levels when discussing used vehicles:
Trade-in – The value a dealership will give you when you trade-in, or give, the used car to the dealer in exchange for cash or a down payment on another vehicle. A trade-in value is typically 20% lower than private party values.
Private Party – The value a private individual can expect when selling to another private individual. Many consider private party values a baseline.
Trade-in – The value a dealership will give you when you trade-in, or give, the used car to the dealer in exchange for cash or a down payment on another vehicle. A trade-in value is typically 20% lower than private party values.
Private Party – The value a private individual can expect when selling to another private individual. Many consider private party values a baseline.
Retail – The value a dealership or used car lot will assign to the vehicle. Used cars sold at “retail value” will often have been reconditioned, carry a warranty, or both. Their prices may be up to 20% higher than private party values.
We are going to describe how to establish a “Private Party” value for your used car. If you consider the number we arrive at a middle ground (a good compromise between several numbers), it is easy to subtract price to establish “Trade-In” value, or add to the price to see a “Retail Value” for the used car.
Now, let us move to the first step in valuing a used car...
We are going to describe how to establish a “Private Party” value for your used car. If you consider the number we arrive at a middle ground (a good compromise between several numbers), it is easy to subtract price to establish “Trade-In” value, or add to the price to see a “Retail Value” for the used car.
Now, let us move to the first step in valuing a used car...
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Last edited by Space; 01-21-2013 at 07:06 AM.
#2
01-21-2013, 06:47 AM
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Last edited by Space; 01-21-2013 at 07:07 AM.
#3
01-21-2013, 08:09 AM
#5
01-21-2013, 08:21 AM
Join Date: Sep 2008
Location: Southeast PA
Posts: 25,136
My 98 Camaro is too hard to use KBB and NADA, none of them list Bright Purple Metallic as an option because it's just so rare 
#6
01-21-2013, 08:28 AM
I think your special color: Bright Purple Metallic should increase your value by $1K +
================================
Thanks `David for your post...
Freedon of Choice 4-Sure
#7
01-21-2013, 08:55 AM
Its kinda of ironic..how you do "improvements" to a vehicle. Like stereo up grade, nice wheels and tires, body and paint mods....
But as far as tradeing it in...all there interested in, is its base model..with no regard to the improvements you added ....
That really sucks!
But as far as tradeing it in...all there interested in, is its base model..with no regard to the improvements you added ....
That really sucks!
#8
01-21-2013, 09:04 AM
Its kinda of ironic..how you do "improvements" to a vehicle. Like stereo up grade, nice wheels and tires, body and paint mods....
But as far as tradeing it in...all there interested in, is its base model..with no regard to the improvements you added ....
That really sucks!
But as far as tradeing it in...all there interested in, is its base model..with no regard to the improvements you added ....
That really sucks!
Hi David, I know it's sad that some mod's don't increase values when you trade at a dealer.
..That's why it is best to sell privately & find a buyer that appreciates the modifications...It seems that making color changes, larger rims/tires/exhaust/wings etc can decrease the buying audience
That's the price one makes when they mod their ride to make it their own...When a person does performance mod's, most think that the vehicle was abused..
.they don't look at the advantage of performance modifications...The way that these sites value vehicles
always always puzzles me & I've learned it pays to prepare & sell your vehicle(s) privately to get the most for your ride 4-Sure...Thanks David for your post(s)..
#9
01-21-2013, 09:18 AM
I did trade in 1 vehicle in my life...the only addition I did to it(that counted)...was add a cap on it..(It was a dodge Pickup).So, the trade in value was a little better. For me..on my end as far as trade in value.
Since I have bought 2 Used vehicles from the dealer in the past 5 yrs.
I have a little experience with...Test drives, What to look for, Value, as well as warranty coverage. I guess it also counts that I know the Used car Manager.
One thing I would never do:
Is buy a vehicle from some privately owned corner used car lot...
Most of those vehicles, Usually turnout to be auction vehicles that have been made to run or repaired (wrecked) just good enough to be driveable..
At least at a dealership they have certain laws that regulate them to be a certified reliable vehicle with a bumper to bumper warranty. (At least at Taylor Chevrolet) Which is the only dealership I trust. when it comes to purchaseing a Used Vehicle.
Your Welcome Space...
This is a Great topic and Post with so many here doing vehicle Purchases!
Thanks!
Since I have bought 2 Used vehicles from the dealer in the past 5 yrs.
I have a little experience with...Test drives, What to look for, Value, as well as warranty coverage. I guess it also counts that I know the Used car Manager.
One thing I would never do:
Is buy a vehicle from some privately owned corner used car lot...
Most of those vehicles, Usually turnout to be auction vehicles that have been made to run or repaired (wrecked) just good enough to be driveable..
At least at a dealership they have certain laws that regulate them to be a certified reliable vehicle with a bumper to bumper warranty. (At least at Taylor Chevrolet) Which is the only dealership I trust. when it comes to purchaseing a Used Vehicle.
Your Welcome Space...
This is a Great topic and Post with so many here doing vehicle Purchases!
Thanks!
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