Last Updated on February 13, 2022
Given the amount of money it takes to purchase a new car, you might choose to go the used car route. Buying a used car can be an affordable way to upgrade your current transportation situation without undertaking heavy financing and quick depreciation. However, as with buying a new car, you can easily run the risk of paying too much for that used car. Therefore, it's crucial to know the correct value of the automobile, so you can make a fair offer. Here are some things to consider:
There Are Many Components that Go Into Value: No two Chevy's or Fords are worth the same – even if they are the same model and year. There are a number of different components that go into determining the value of a specific automobile. Some of those components include mileage, trim, luxury amenities, region, service records, accidents and more.
Look at More Than One Guide: The Kelly Blue Book is a great, but it is not the only resource to consider when you look for the true value of the used car you seek to buy. For example, a NADA used car value might be less, which might give you additional leverage to negotiate your price. Some of the most popular guides to research besides Kelly Blue Book include NADA, Edmunds and Consumer Reports.
Check Used Car Selling Sites: Scour the classifieds, eBay Motors, Cars.com, AutoTrader.com and other sites that feature used cars from private sellers and dealers to learn what others are selling their cars for. This will give you a better idea of how much you should be paying for your automobile and should again aid in your negotiation.
When buying a used car, you should have some room to get a price that makes the most sense for both you and the seller. Try these methods to see if you can reach a common ground.
