Used car value refers to an agreed price estimate based on all of the conditions of the vehicle at a specific time. Like other kinds of significant investments, a car or truck is only really worth what someone will pay for it on the market. Buyers and sellers get in partial used-car value estimates to negotiate a price for a car or truck.
A used car can have several different values, each representing a specific kind of transaction or circumstance.
Trade-in value – A trade-in value for a used car is what a driver could expect to get when trading in that vehicle at a dealership.
Private party value – This used car value is what a seller could expect when selling a vehicle through the car classified ads or on the common market, directly to another driver.
Suggested retail price – This used car value is what dealers would expect to get for this vehicle on a dealer’s lot.
drivers can find all of these values for used cars at the Kelley Blue Book site at www.kbb.com. Enter the vehicle’s model year, mileage, and other conditions, and get accurate market estimates that will help provide good information on the value of a used car or truck that will be useful in future negotiations.