Putting value on a used car needs to be both objective and subjective. To value an Oakville used car objectively, you need to consider its make, model, and production year. To value it subjectively, you need to take account its appearance and condition.
Valuing a used car wouldn’t be hard if all cars were identical. However, each used car has its own quirks and attributes, making for uniqueness. Therefore, two used cars may be identical in terms of make, model, and age, their values may differ greatly in the pre-owned market. That’s why all used cars need to be priced individually.
There are three methods in establishing the price levels of used vehicles. They are: private seller value, trade-in value, and retail value. The first method in the list, the private seller value, is the price you can expect if you’re buying the used car from a private individual. Private seller values are considered an industry baseline.
The second method in the list, the trade-in value, is the value that dealerships assign to used cars in Oakville in exchange for another vehicle. Typically, trade-in values in this Halton Region town are 20% lower than private seller values. Oakville is just 30 kilometers west of Toronto. If you’re looking for a dealership that allows trade-in, you’ll have better chances looking for one in Toronto.
Retail value is the established price of a used car vehicle according to dealership standards. Used cars sold at retail value by dealerships of used cars Oakville residents go to will be completely refurbished, carry a warranty, or both. Retail values are generally 20% higher than private seller values.
As mentioned earlier, putting value on a used car needs to be both objective and subjective. Even if you have determined a price for the vehicle, there will be other factors that can potentially decrease or increase its value. Items like a custom paint job, upgraded sound system, or aftermarket accessories are sure to add value. If the used car has them, expect the prices of these used cars in Oakville to be adjusted accordingly. Read more articles about used cars on usedcars.about.com/popular.htm.
Three Methods of Putting Value on a Used Vehicle