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A few steps to determine your car’s value include: Research car price guides and websites like Kelley Blue Book (KBB) and Edmunds. ... but most calculate current market value minus depreciation ...
Factors Affecting a Car’s Value. Several factors affect your car’s value, including its condition, history and market demand. Let’s look at these factors and why they matter to prospective ...
This sets a benchmark for your car's value and is a great first step, even if ultimately you want to sell the car privately in order to get the most money possible. ... Calculate All Costs.
The company reports market value prices for new and used automobiles of all types, as well as motorcycles, snowmobiles and personal watercraft. [16] For both new and used automobiles, Kelley Blue Book provides a fair market range and fair purchase price, based on actual transactions of what others are paying for a vehicle and adjusted regularly as market conditions change.
The yearly depreciation of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. [12] [13] Depending on market conditions, cars may depreciate 10–30% the first year. [14]
Repair-related Diminished Value is the loss of market value due to improper repair of the vehicle. This type of diminished value is rare. Usually, a vehicle with frame or structural damage cannot be resold as a "certified pre-owned vehicle." Frame damage results in high amounts of Inherent Diminished Value.
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