How Do You Value A Used Car?
Value of a used vehicle is solely depends on some of the parameters, which are as follows
Make, Model, Year and Brand of the vehicle
Appearance
Mileage
Condition of Engine and other accessories etc.
However, a true value is estimated after the inspection of the vehicle. For this you may refer, KBB, Edmunds or some online auto dealers like http://www.autopartsfair.com/car_finder/start.html.
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. Retail The value a dealership or used car lot will assign to the vehicle. Used cars sold at retail value will oft
