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Here's the biggest understatement you'll hear all day: New cars are expensive! However, the consolation in buying a new vehicle, the trade-in, is increasingly worth less as the U.S. economy ...
Trade-in value is typically the lowest of the values for a car. Private party resale value: This is the value you can expect to sell your car at directly to a private buyer.
For used cars, Kelley Blue Book provides typical listing price, certified pre-owned price, trade-in value and private party value. [20] [21] Kelley Blue Book also offers expert and consumer vehicle reviews and ratings, and 5-year cost to own information for new cars. [22] [23]
Black Book collects data from wholesale auctions it attends in person or online, applies adjustments and compares them against dealer advertised prices. Access is restricted because it requires subscriptions, but public access to its price search features are accessible through third party sites such as Newcars.com. [4] Assessing car value is dependent on several factors including make, model ...
For example, if you trade in a car with a market value of $10,000 and you buy a new car that's valued at $15,000, you'll only have to pay sales tax on the $5,000 difference.
“Among new car buyers, those carrying negative equity on their trade-ins were underwater by an average of $5,820 in September,” it reported. Learn More: 6 Car Brands With Reliable Used Cars
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