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KNOW
THE VALUE OF YOUR CAR
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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.
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- Actual
Kelley Blue Book value
The trade-in value found at kbb.com
is 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.
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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.
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Actual
asking prices in local newspaper classified ads
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.
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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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We
have provided the links above for your viewing. These will offer
you actual value of your car. Also you can price new cars with options
you select. Check these resources before you buy or sell, you'll
be glad you did!
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