Used Car Prices: What’s My Car Worth? Myths And Facts
Whats my vehicle worth? What a question! I wish that after 20 years in the automotive industry there was a simple answer. One would think that with all the information available it would make prices and values easier to obtain. In fact, in many ways, the numbers are more unclear than ever.
The following e-mail conversation regarding retail car prices and trade-in values highlights the confusion and misconceptions about automobile price and value.
This conversation occurred between me/Ted, the dealer, and Rich, the customer…
[Begin Email]
[Ted]
Hi Rich…
Donna loves the 2006 Volvo. Its a perfect fit!
Again retail value is: $23,800
Here’s what Medway Imports can do:
2006 Volvo S40 Price………….$18,995
2001 Chevy Impala Trade-In Value……..$4,000
Thanks Rich!
Note: the Volvo is still under its factory 4-Year 50,000-mile warranty, free road side assistanceetc.
[Rich]
Hi Ted,
Thanks for the information. The Volvo certainly is a great price, but isnt my Impala worth...
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