![]() ![]() Some books are used primarily by financial institutions for setting loan to value ratios, and other books are intended for consumer usage. This means that they’ll be focused on overall profitability and will often suggest lower prices than other books. Some books are intended for car dealership usage. Why are there so many vehicle value books? Why can’t someone just tell me what my car is worth? ![]() In order to determine your car’s true worth, you need to look at a few different book values in addition to understanding that it will vary based on how you sell it, who you sell it to, and your negotiation skills. Oh, and not to mention, the dealer needs to buy the car cheap enough to be able to turn around and make a profit. Alternatively, they may simply sell it as-is at a wholesale auction, which means less money than selling it to another car buyer. This begs the question, why are trade in values so low? The short answer is that the dealership has to recondition your car before it can be sold, which costs money. If you’re looking at trading the car in, most price books will tell you that your car is worth less when being traded in. You’ll be sacrificing some profits for the ease of trading the car in. Why doesn’t everyone just sell privately? In order for you to land that higher selling price, you’ll need to list it on a classifieds site, talk to multiple would-be buyers, have plenty of people come look at it, and eventually you’ll find the right buyer.Ĭompare that process to simply handing the keys over when you buy your new car. The vast majority of the time, your car will be worth far more when you sell it privately as opposed to trading it in. What’s my car worth? Well, the first step is understanding how you’ll be selling it. ![]()
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