Tag Archives: Used Car Price

Used Car Price – How Is It Determined?

When you decide to buy a used car, you may wonder if you can get the best deal from it. Whether you buy it yourself or with the help of a used car dealer, your final decision should be something you will never regret. 

Above all, you want to know how the price is determined, how the value is determined, and whether the seller's asking price is fair or not. Also, you want to enjoy negotiating and feel like you finally got the best deal. On the other hand, if you were in the seller's shoes, you probably know how much your car is worth software and what a fair price you would ask.

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Then how to determine the price?

There are no rules on who should determine the value of a used car. The price tag is just a recommended number, so nothing should reach a predefined value. However, there are price guides provided by companies. The companies have a long history of valuing used cars based on data beyond the final sale price at auction and dealer transaction records. But even these numbers are statistics and accumulations of what was worn on a particular car model in the selected year, plus many other determining factors.

We can always find that these estimates differ between these companies for the exact same used car and we start to wonder which one is correct and more accurate. If you are a buyer you want a lower price for the same conditions and if you are a seller you want to get the most value out of it.