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Still, Jominy said, with the threat of tariffs potentially causing higher prices on goods including cars, "I don’t think we’ll stop talking about affordability in 2025. We have a ways to go.
Knowing the current trade-in value of your car is very important, Fix said, and it requires doing some homework and using sources such as the Kelley Blue Book (KBB), True Car and Edmunds.
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]
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.
Used car pricing reports typically produce three forms of the pricing information. Dealer or retail price is the price expected to pay if buying from a licensed new-car or used-car dealer. Dealer trade-in price or wholesale price is the price a shopper should expect to receive from a dealer if trading in a car.
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.
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