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Wondering about your trade in?
The purpose of this tutorial is to provide you with some information to you on how a professional appraiser determines the value of your vehicle and to educate you on how to get the most for your trade. The professional appraiser uses guides, market flucuations, auction information and actual market conditions together to determine a vehicles value.
1. The professional appraiser uses a guide like Kelly Bluebook and/or the Blackbook to determine the maximum amount that the guide recommends a dealer to pay for that vehicle.This maximum amount is based on a vehicle that is in perfect condition. It is not common to receive the maximum amount as your vehicle must have the perfect model configuration, color, equipment and mileage. Then there are adjustments for equipment that is missing, tires, brakes, tune-up, hoses, filters & flushes, shocks, exhaust, alignment, belts, safety inspection, dent removal, paint repair, detailing, scratches, cracked or broken glass, mileage, accident history.
2. The professional appraiser then looks at the current local market conditions, regional and national auctions as well as other buy/sell reports to help determine the market value of your trade.
3. The professional appraiser then takes the maximum amount in the guide and subtracts the costs for reconditioning, resale, vehicle condition and market conditions to determine its fair market value. Remember to tell your salesperson everything about your vehicle, all equipment and how it was maintained in order to receive the most money for your trade
Black Book Online provides trade appraisals based on your vehicle’s condition, mileage, and location. Just fill in the information and get instant results online. Within minutes, you also get a confirming e-mail that you can take to the dealership where the final price is set.
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