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Understanding the different types of car value can help the sellers in getting better deals. Trade-in, market and resale value are some of the most frequently trusted car valuations.
If you have plans to sell your car, getting a car valuation is one of the most important steps to take. With a little research, you can feel more comfortable knowing you’re getting a reliable and fair price for your vehicle.
Here are the types of car values you should know about:
Understanding the concept of car resale value can save you from loss and scams. Below are all the factors which determine a car’s resale value:
Car market value plays a major role in determining just how much money you can get in exchange for your car. Car market value is not a constant value as it varies for different cars of the same model. Retail value of the car, coupled with the odometer’s kilometer reading and condition of your car, determines the market value of your car.
Car market value is dependent upon the following factors:
Are you willing to exchange your current vehicle with a new one of similar value? If this is the route you’re planning to take, the car trade-in value is something you should understand. In simple words, the trade-in value of a car is actually the amount a dealer is offering to pay you once you exchange your current vehicle for purchasing a new one.
Although car trade-in value is based on the car market value, these types of car valuations are different. Here are some of the factors that directly influence the trade-in value of your car: