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It
is so important to know the actual value of your car.
All of the following areas will be variables in determining
actual value. Also we have "8
points Before You Buy a New Car" available.
LEARN
CAR SAVINGS TIPS
- Actual
Kelley Blue Book value
The trade-in value found at Kelley
Blue Book or Edmunds.comis not the same as wholesale value found
in the trade publication mailed to the Industry. The trade publications
are intended for use by the wholesale industry and represent vehicles
that have been thoroughly reconditioned to manufacturer specifications,
completely safety checked and warranted by the dealer. The value
contained in the trade publications is widely used by dealers
as a starting point to estimate a vehicle's value, depending on
its overall condition.
- Supply
and demand for this type of vehicle
The supply and demand of a vehicle is simple to
understand. If there is a large supply of the same model of cars,
the price is kept low by competing sellers. If there is a small
supply of the same model of cars, the price is high because the
seller knows this car has a limited supply. Example: A 1967 fully
restored mint-condition Camaro will get a higher price than a
1992 Toyota Camry. Why? Because there are many more Camrys to
choose from, than the vintage classic Camaro. Look and compare.
Area and location may also be a factor.
- Actual
asking prices in local newspaper classified ads
Retail value is found at Kelley
Blue Book or Edmunds.com.
Local newspaper ads are often a much better source to determine
what you will pay for a used car, or what others would pay for
your car. Since automobile values set by the Kelley Blue Book
are determined by dealers, statistics, and costs, the prices in
local papers are a closer, more realistic estimate of what people
are paying and/or charging for their specific cars. It is also
recommended to check online classifieds. The Internet is a great
source for mass research.
- Appearance
condition
Excellent
"Excellent" condition means that the vehicle looks
great, is in excellent mechanical condition and needs no reconditioning.
It should pass a smog inspection. The engine compartment should
be clean, with no fluid leaks. The paint is glossy and the body
and interior are free of any wear or visible defects. There is
no rust. The tires are the proper size and match and are new or
nearly new. A clean title history is assumed. This is an exceptional
vehicle.
Good
"Good" condition means that the vehicle is free
of any major defects. The paint, body and interior have only minor
(if any) blemishes, and there are no major mechanical problems.
In states where rust is a problem, this should be very minimal,
and a deduction should be made to compensate for it. The tires
match and have substantial tread wear left. A clean title history
is assumed. A "good" vehicle will need some reconditioning to
be sold at retail; however major reconditioning should be deducted
from the value.
Fair
"Fair" condition means that the vehicle probably
has some mechanical or cosmetic defects, but is still in safe
running condition. The paint, body and/or interior need work to
be performed by a professional in order to be sold. The tires
may need to be replaced. There may be some repairable rust damage.
The value of cars in this category may vary widely. A clean title
history is assumed.
Poor
"Poor" condition means that the vehicle has severe
mechanical and/or cosmetic defects and may be in questionable
running condition. The vehicle may have problems that cannot be
readily fixed such as a damaged frame or a rusted-through body.
A vehicle with a branded title (salvage, flood, etc.) or unsubstantiated
mileage should be considered "poor" because of potential problems
and should be independently appraised to determine its value.
This category is not recommended by Autonetdirect.com.
- Mileage
and mechanical condition
The exact nature of a mechanical
problem is difficult for a layman to diagnose. Even the experts
can't always be sure of the nature or the magnitude of the problem
without at least partially disabling the part. If you are in doubt,
have a reputable repair shop give you an opinion of the problem
and an estimated cost of repair. To verify mileage, you should
compare the wear of the brake pedal cover for a guide to mileage
accuracy. Compare this with a few vehicles. This will give you
a good guideline for mileage.
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