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The question you ask when selling your car is,
'How much is it worth?' Well this question is
actually incomplete. You have to add three parts
and you get three different answers.
How much is it worth when I sell it to a:
1. Dealer
2. Private individual
3. Dealer as a trade-in
You can answer these 3 questions by going to
online valuation web sites such as: Kelly's Blue
Book in the United States or The Red Book in
Australia. You can get these prices for free.
The other way to value your car is to see how
much they are going for in the classifieds.
Neither one of these ways is entirely accurate
for the following reasons.
1. Classifieds may have only one or two cars of
your type and they could be overpriced or
underpriced. The quality of your estimate depends
on getting a good range. It's a good idea to
check the prices over several weeks if you can.
2. Online Valuation services may have
inaccuracies for particular models and should not
be relied on exclusively, just because they seem
to be the authorities. Their valuation is only as
good as the data they have to go on. Since a
large number of transactions bypass their data
collection you can only consider it an estimate.
It could be out by as much as $1000 easily.
3. Seasonal demands influence the prices of cars.
Convertibles sell for higher prices in the summer
time. These swings can exceed the ranges given in
valuations.
There is one more factor that overides all the
above. The final price you get is not it's worth.
It's worth is it's value. A good, reliable car
with no rust, that has been maintained can be
sold for more money. It is worth more than a
newer car that has been poorly maintained. If you
have such a car then you absolutely can sell it
for a good price because you are giving value for
money.
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