Cars manufactured after 1990 may be appraised: Almost every make, including foreign, domestic, and luxury brands like Infiniti and BMW, are covered. If you possess a historic automobile, this approach will not work because the technology only appraises vehicles manufactured after 1990. In such a scenario, you’d need to consult a professional classic vehicle guide to figure out what it’s worth.
How your appraisal is calculated: They use data from several sources, including dealer transactions, automobile depreciation costs, and customer information, to compute valuations. The assessed value is determined by the year, make, model, trim, mileage, depreciation, and characteristics of the vehicle.
The information on your appraisal: If you’re selling or trading in your car, we’ll help you make the best decision possible. You’ll be given up to four car prices to choose from trade-in, private party, dealer retail, and certified used. If you trade in your present vehicle for a new one, the trade-in price is what you may expect from auto dealerships. Out of all of the prices, it’s always the smallest of the options and closest to the actual cash value of your vehicle.
The private-party amount is what a seller may expect if they are conducting a private transaction. This is always more than the trade-in value of the vehicle. However, because you’ll be interacting with buyers directly, this method requires more effort.
The dealer retail value on the appraisal is for consumers who are buying a used car. It’s an accurate estimate of what a buyer may anticipate paying at a dealership when purchasing a used vehicle. If you are currently valuing a late-model used car, you’ll also notice a suggested “certified used” figure, which is the estimated sale price for consumers looking for a certified pre-owned car.