AUTO VALUE GUIDE ..BEFORE WE LOOK UP..CLEARING UP SOME CONFUSION AND SOME DEFINITION OF TERMS! OVERVIEW
THERE ARE MANY DIFFERENT "VALUES" BANDIED ABOUT WHEN TALKING ABOUT A CAR'S VALUE!.What is "Trade In?".
TRADE IN: also "WHOLESALE","dealer cost","auction".
This figure,hated by consumers everywhere,is the value the auto dealer is supposed to give you on a trade in.
"That's All?!!!"
...is frequently heard after this number is spoken!.
However It cuts two ways!:this number is also "wholesale",or all the car can be expected to be sold for, wholesale, at either a dealer car auction or directly to another dealer.Some Guide books [Black Book is one], post spotters at Wholesale Auctions to hand tabulate the strike price and condition of sold vehicles.Doesn't get much more accurate than that !
The fact is; most vehicles traded in have"issues" and the dealer can't easily sell the car for the retail figure to another consumer without investing money in the car.
If the dealer had to fix every car just to get his money back he would either go broke or stop taking trades.
Do some cars sell for more or less than this figure on a wholesale basis?
yes,because pure supply and demand for this specific car take over,since no finance considerations distort the value.
This figure is also favored by many since it more closely approximates a marketplace set value.
Since demand for the specific make/model set value many vehicles are not even selling for the "book" wholesale(or trade in..the same).
Many American cars are presently in this category.
Some cars bring more at wholesale(Honda Toyota etc.).In recent times the increase of Internet sales of cars has driven the price of cars sold at retail closer to the wholesale (remember "trade in"..the same)figure,so it has taken more significance. Understanding Book Value Terms .
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Appraisal Databases
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FAQs
Welcome
You have come to the right place to find out
what your vehicle is worth in the resale market.
I hope you take the time to use the Information
To learn how to put the real value on your item
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Learning Resources
- About Book Value
- Adjustments
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