The Many Values of a Used Car

When it comes to used cars pricing can be a bit tricky. In fact, there can be as many as three different values for the same vehicle. This is why buying a used vehicle is so much more involved than buying brand new vehicle. As a buyer you must understand and be aware of all three values in order to make an informed purchasing decision. You can save yourself a great amount of stress by simply choosing to shop at your local St Louis used Toyota dealer. There you will find the most competitively priced used car inventory.

A used car will have a trade in value. This value is reflective of what a dealer might pay as a trade in model. Today’s market presents the perfect opportunity for those looking to trade in their current vehicle for an upgraded version. Many dealers are still working to beef up their used car inventory. As a result, many are willing to pay top dollar for used car trade ins, especially used Toyota models. Toyota models are known for their value in safety, reliability and efficiency. As a result, their trade in values tend to be higher than competitor models.

A used car will also have a private party value. This value is simply a reflection of what the car might sell for if sold privately, rather than being traded in at a dealership. It used to be this was the most lucrative way to sell a car. However, with the change in used car demand, trading in is becoming increasingly more popular.

Finally, the retail value of a used car is a value determined by professional licensed automobile retailers. These vehicles have often been reconditioned by the dealers and are sold for a higher price than their counterparts.