How Are Used Cars Valued?
If you are in the market to buy or sell a used vehicle, you may be wondering about how the value of pre-owned cars is determined. It is easy to figure out what sorts of characteristics add to the value of a used car – low mileage, strong engine, straight body among others. When it comes to actually figuring out how much should be charged or paid for any given used car is a bit more complicated. Because the value of two seemingly similar used vehicles can vary greatly in age, condition, options and more, used vehicles must be valued on an individual basis. Price Levels Based on Sales Format The value (i.e. price paid) for a used car will be different depending on whether the car is being sold by an auto dealer or being sold by a private party. The value will be altogether different if you are considering using a used auto as a trade-in on a newer model. The value a private party can expect to be paid on any given used vehicle is generally considered a baseline value. Retail value, or wh
