What is the Book Value of a Vehicle?


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Car Insurance Companies FAQ What is the Book Value of a Vehicle?

What is the Book Value of a Vehicle?

Have you ever wondered how a car insurance company arrives at your premium rates and determines what to pay if you have an accident and have to replace your vehicle?

Of course, your age, driving record, and where you live all affect your rate. But one thing that many people do not consider when they are shopping for car insurance is the “book value” of the car, which can have as much impact as any other factor on your cost of auto insurance.

Essentially, “book value” refers to what your car would cost to replace. However, it is not quite that simple, as there are several “book values” for each vehicle.

In the past, most car insurance companies used the Kelley Blue Book as the standard for car values. The Kelley Blue Book, commonly referred to as just the “blue book,” is a publication used by banks and car insurance companies to get an average price on any given vehicle. Kelley Blue book editions exist for all makes and models of automobiles, even very old or rare cars. Kelley separates book values into three categories: trade-in value, retail value, and private party value.

What are the different value types?

Trade-in value is what you could expect to receive if you traded a particular vehicle in at a car dealership for another car. This value is typically lower than private party value, which is what you could get if you sold your car to an individual in a private sale. Retail value is the value which you can expect to pay at a dealership to purchase that model of car.

In figuring your rates, car insurance companies use a formula that takes into consideration the value of your car. When you purchase a new vehicle, this is easy to do; the amount you paid for the car is, at least theoretically, its value for insurance purposes. However, vehicles depreciate in value each year, so a used car will have to be valued for purposes of figuring insurance rates.

How car insurance companies determine value after a car accident?

When a car is in an accident, the adjustor must determine if the car is “totaled.” This means that the vehicle is so severely damaged it cannot be repaired, and must be replaced. At this point, book value can become very important, depending on the type of coverage you have. If your policy states that actual cash value is to be paid, you will receive only what the car was worth when it was wrecked. If you purchased replacement cost coverage, you will receive enough to replace your vehicle. Most policies do not replace vehicles, but only offer the actual value of the vehicle.

Because the book value is only a guideline, and is used for making loans more often than determining payout value for totaled vehicles, insurance adjustors have begun using a new system called CCC Information Systems. CCC’s system compares the value of recently totaled vehicles in a geographical area to arrive at a fair settlement amount if your car is declared a total loss after an accident. This is usually to the advantage of the insured person, as your car will be valued on a more realistic scale than if only book value is used.

Can you dispute the value a car insurance company claims your vehicle to be worth?

Many victims of car accidents are not satisfied with an adjustor’s price when the insurance company makes a settlement offer. However, many insured persons are unaware that they do not have to simply accept the adjustor’s price for the value of the car. Using book value and other tools, you are free to counter-offer with the insurance company by showing that you believe you should be given more money than the company is offering. This is especially important if you are dealing with another person’s insurance company, which may try to settle with you for a smaller amount of money that you should receive.

If you are having trouble understanding blue book value, the Kelley Blue Book web site, www.kbb.com, is user-friendly and easy to understand. You can get free car valuations for your area by entering your make, model, year, and any extra features of your car. If you are ever negotiating with an adjustor for settlement, this is a good way to determine if you are being offered a fair price for your car. You can also use this information if you decide to sell your car or trade it in. Finally, the book value is useful to know if you are shopping for a used car, and can help you determine which car will carry a higher insurance rate by comparing the relative values.


What is the fair market value of my car?


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Full Answer

Similar Questions

How does the insurance company calculate the fair market value for a total-loss vehicle?

Insurance companies calculate the fair market value or actual cash value of a totaled vehicle by comparing the sales prices of similar vehicles in the same region as the totaled vehicle, says Geico. They also consider the condition of the vehicle before the damage, such as mileage and upgrade options.

How do you calculate fair market value?

According to the Internal Revenue Service, fair market value can be calculated based on the current selling price of the property, the price of comparable goods, the cost to replace the item or the opinion of experts on an items value. No specific formula can universally calculate FMV.

What is the difference in leasing a car vs. buying a car?

The primary differences in leasing versus buying a vehicle are the ownership, monthly payment amounts and restrictions on use of the vehicle, explains Consumer Reports. Depending on the lease terms for return of the vehicle at the end of the contract, the length of time a person has the car differs.

What are the advantages and disadvantages of leasing a car?


What is my car worth? How WeWantAnyCar value your car


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How We Value Your Car

Step 1: We ask you to confirm that the car we have found is indeed your car.

Step 2: If you have any additional specification, e.g. Leather, Satellite Navigation etc. fitted to your car then we ask you to tick the appropriate boxes.

If this is fully up to date and completed by a VAT registered dealer than it is fair to assume the value of your car will be higher than a car with only a partial service history.

MOT

A vehicle with full MOT is more valuable than a vehicle with no MOT. If your vehicle has failed an MOT then it will require some work to make the car road worthy again; the level of work required to convert this to a pass will affect your final valuation.

Colour & Condition

Some colours are more popular and desirable than others. This can have a slight impact on the valuation we provide.

Insurance Write Off

If your vehicle has been involved in a vehicle collision you may be informed by the insurance company that the car is a write off. Essentially this terms means that the vehicle is beyond economical repair. This most certainly will affect the value we provide. Please note that we perform a HPI on every vehicle we purchase and this report clearly indicates to us whether the vehicle has been involved in any insurance claims.

Step 4: If the vehicle has any damage then you are able to use this form to select the damaged area and type of area.


What Is the – Market Value – of a Car?


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Other People Are Reading

What Affects It?

The first and most important factor in a car’s market value is, of course, the model and year of the car. For new cars, this is in fact the only factor: a combination of the retail price suggested by the manufacturer, the “dealer price” the car dealership actually paid to the manufacturer, and the current popularity and perceived reliability of the car’s model and year. A used car is additionally affected by its condition and mileage, and its market value is much more variable and specific.

Why Should I Know It?

The point of knowing a car’s market value is that dealers should know it too, and it’s thus theoretically close to the amount for which you should buy or sell the car. Generally, this value will be somewhere between the dealer price — under which the dealer would lose money — and the suggested retail price (MSRP), which is often considerably higher than the market value. Even if you aren’t buying or selling a car, but rather donating it to charity, it’s important to know its value so that you can claim an accurate tax deduction.

How Do I Find It?

You can cobble together a rough estimate of a car’s market value yourself with a little research — looking on the Internet for information about similar cars — but resources exist to make this process a lot easier. Sites like Kelley Blue Book and Edmunds.com (see Resource section) contain searchable databases with the current market value of many different car models; these databases are also geographically sensitive, so you can get an idea of a car’s market value in your area.

Negotiating

Negotiation strategies vary by dealer and by car, but a good rule of thumb is to open at a $500 distance from the car’s market value — $500 under if you’re selling and $500 over if you’re buying. This will help you to haggle a dealer to something close to the actual value, and keep you from having to immediately move away from your opening figure in negotiations.


Six ways to increase your car s resale value


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Increase your car’s resale value

By Aaron Gold. Cars Expert

Aaron Gold, About.com s Cars Expert, has been an automotive journalist for a decade and a half and has been writing for About.com since 2004. He contributes to several automotive publications and is a member of the North American Car and Truck of the Year jury.

If you only plan to keep your car a few years, it s in your best interest to keep its resale value as high as possible — after all, that s more money to put down on your next new car. These six tips will put your car well ahead of the pack and help to maximize its resale value.

1. Buy a car that will hold its value. Resale value is based on many factors, including desirability and reliability. Some makes, such as Toyota. Honda. Mercedes and Lexus. always hold their value well, but South Korean brands like Hyunda i and Kia have seen their resale values climbing steadily in recent years.

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Use a good used car pricing site, such as Kelley Blue Book or NADA. to research the resale history of models in which you are interested.

2. Choose your options carefull y. Some options, such as air conditioning or a sunroof, will improve your car s resale value; consider buying them even if they aren t on your personal must-have list. Remember that cars with a manual transmission often have lower resale values than those with automatics.

3. Follow the maintenance schedule and keep all receipts. You ll find the maintenance schedule in the back of the owner s manual.

Keep receipts for all maintenance and repair work. no matter how minor. A stack of receipts underscores the fact that your car has been well taken care of. Savvy used car buyers will be willing to pay extra for a car with a fully documented service history.

4. Don t crash. Any history of collision damage can ding your car s resale value, and a trained used car appraiser can spot body work from a mile away. If your car is in a collision, use an experienced repair shop with a good reputation and insist on using factory (also known as OEM, for Original Equipment Manufacturer) parts.

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Save all receipts and be up front and honest about any collision repair work when it comes time to sell or trade. Being evasive about collision repair may lead the buyer to believe that the damage was more extensive than you are letting on.

5. Resist the urge to customize. Spending money on your car can actually decrease its value. If you do have your car customized, stick to non-intrusive upgrades such as new wheels and tires that won t require extensive re-wiring or cutting up the dashboard. Save the old parts so you have the option of returning your car to its original condition before selling.

6. Keep it clean. The better your car appears to be kept up, the more it will be worth, and most people associate cleanliness with care. Washing and waxing your car on a regular basis will protect the paint and prevent oxidation and peeling — plus it s a much easier way to keep it looking good than paying for an expensive detail job when the time comes to sell.


Trade in Value


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Trade in Value

The trade in value a customer receives when purchasing a vehicle creates as much, if not more, confusion as the discussion about dealer invoice on new cars. If you will learn some important principles about what vehicles are really worth it will help you provide better answers for your customers.

First, let’s define what trade in value really means. It is the amount shown on the purchase contract that is deducted as an allowance from the price of the vehicle they are purchasing. Gosh, that’s easy to understand, right? Not always.

There is a difference between trade in allowance and what the vehicle is worth as a cash asset to the dealer. The dealership’s valuation of the vehicle is called Actual Cash Value. or ACV for short. This value is what the dealership will use as their cost when they put it on their books as inventory. During the buying process the used car manager of the dealership will evaluate the customer’s trade in. Based on valuation guides such as NADA Value, Kelly Blue Book, Black Book, Auto auction reports,etc. the dollar amount is set.

Included in the used car manager’s decision about value will be vehicle condition, mileage, optional equipment, color and market conditions for demand. My purpose here is not to educate you on how to appraise a used vehicle. Just some information about how the ACV figure is arrived at. Now it is time for some simple arithmetic.

If the used car manager sets the ACV of a vehicle at $10,000.00 and the customer receives a trade in value, or allowance, of $11,000.00 the customer has actually received a discount of $1,000.00 from the selling price of the vehicle they are purchasing. This is known as an over allowance. Any amount given to the customer as trade in allowance that is more than the ACV is an over allowance, which translates into a discount from the selling price.

Now, let’s go back to the trade in value and look at it from the perspective of your customer. First, it is their vehicle. They liked it enough to buy it. They have driven it for some time. It has been part of their family. They have even given it a name. Trading it in is an emotional experience for them. What they think it is worth has some emotional value. To the dealer their vehicle is simply a commodity. Is it any wonder that the value of the customer’s vehicle, in their mind, might be more than what it is really worth when you consider their emotional attachment to it?

Earlier I told you how the used car manager sets trade in value. Let’s examine how the majority of your customers set the value of their vehicle.

  • They look in the newspaper
  • They call their bank or credit union and ask for NADA value
  • They saw one like it for sale somewhere
  • They have a loan on it and it’s got to be worth at least that amount

As you consider each of these valuation methods think about how easy it is for a customer to arrive at a figure that may be unrealistic. Start with looking in the newspaper.

There are usually two types of vehicle for sale ads. Those placed by dealerships and those place by private sellers. Because of the cost of ads the descriptions are abbreviated and advertisers use as few words as possible. So, we look at the ad and what we do not see are generally items like mileage and condition. (An unusually low price will indicate high miles or poor condition.)Your customer will look for the highest price to set their value. Without looking at the vehicle offered for sale, driving it or assessing the mechanical condition they will assume their vehicle is the same.

Your customer may ask their lending institution to help them set the value based on blue book or NADA values. Because of their emotional attachment they think their vehicle is extra clean. In reality, very few vehicles fall into this category. Without driving the vehicle, assessing reconditioning costs or considering market conditions it is almost impossible to determine the value of a vehicle using only a book.

DO NOT use the argument so many salespeople have that offends customers.

I have heard salespeople say, “If your bank thinks it’s worth that have them write you a check.” You might think this answer is cute but remember, the customer, at this point, trusts their bank more than you. Granted, the bank is not in the car business and dealers don’t tell them what interest rates to charge but if you try this tact you will alienate your customer.

Make sure you never miss an update to the StayOnTarget training series. All you need to do is let me know where to send it .

If you find this information useful recommend it to a friend.

Trade in value is only one element


Maximize Your Car Trade-In Value with These 5 Tips


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5 Ways to Increase a Car s Trade-in Value

The day had finally come and it was time for me to sell my car and obtain an auto loan to buy a brand new vehicle. My old, battered Honda Civic was still in great running condition, and with nearly 180,000 miles on the odometer, had accompanied me on many journeys. But it had seen better days, and the rust, the peeling paint, the nicks and the dents all but convinced me that its trade-in value would be modest at best, backed by all the research I did on its overall worth.

What came as a surprise upon selling it was that I was offered nearly double its Kelley Blue Book trade-in value (and this was after my generously sentimental appraisal of my old four-wheeled companion). That was last year, and some reliable sources have since informed me that the car has had not one, but two possible owners since I sold it, a clear indication that it s further retained what value it still has.

I discovered that day that the trade-in value of my car was much higher than I expected due to a number of relative factors and, that I underestimated its said value due to being misinformed about trade-in values in general.

Granted, it fetched a higher dollar amount since I sold it instead of trading it in, but that s OK. If you re looking to part ways with your vehicle, don t go unprepared. When you understand what affects your car s worth, you ve got a clear path to knowing how to maintain or even raise its value. It can earn you more money for your old ride, therein saving you money when upgrading to a new one, especially when an auto loan is concerned.

How Are Trade-In Values Determined?

To calculate trade-in value, visit the Kelley Blue Book website. You ll be asked to enter the make, model, year, mileage, features and condition of your car, plus whether you re looking to trade it, sell it or if you re just curious for a dollar figure.

But the Kelley Blue Book price goes beyond those simple details. Priced high or low, the trade-in value of cars takes into account other important details.

1. Brand

What s really in a name? A whole lot, according to the writers at High Gear Media. The first name of a vehicle can have a tremendous effect on its resale value, regardless of the condition or quality of the vehicle in question, they said. So, even if your Geo Prizm or Ford Pinto is in tip-top shape, it probably won t command that much coin in the trade-in process.

On the other hand, marques relied on for their reliability namely, Japanese automakers like Honda, Toyota, Subaru and Mazda do demand high resale values, as do many luxury car makers.

2. Transmission

Despite claims that they re better at connecting the driver to the car and to the road, stick shifts have declined in popularity in recent years in favor of the more passive P-R-N-D-3-2-1 of an automatic transmission. In general, an automatic transmission will recoup its cost, typically between $1,000 and $2,000, writes High Gear Media.

And while manual transmissions won t exclude you from trading in, it can be made more difficult due to their decreased demand.

3. Paint, Tech and Mods

Your car s garishly neon pink color is for few people in this world of freeways lined with sober, silver-hued vehicles. So too might be your car s super-hi-fi stereo, which could actually backfire on the resale value if you spent more on it than the car.

Though your Toyota Corolla might hold a solid auto trade-in value, aftermarketing it into a super-modified, super-charged, super-rimmed Formula 1 wannabe won t do you any favors on the resale front. Upgrades and options can detract from a car s value.

4. Mileage

It s worth repeating that mileage affects your car s worth. Even when the exterior, interior and mechanical conditions are ideal, too many miles means a shorter lifespan for your car, and will be reflected by low trade-in values.

Getting the Best Car Trade-in Value

According to Edmunds.com, a new car depreciates in value up to 9 percent in the first minute it s driven off a dealer s lot. After five years, your car holds only 40 percent of its true market value and that s without all the other considerations that can reduce its trade-in value.

Before taking your car to sell or trade in, consider spiffing it up with five of these value boosters.

1. Make Repairs

From major engine problems to minor maintenance issues or cosmetic, paint or upholstery defects, a vehicle in solid running order is one of the most fundamental value boosters. The goal is, after all, to sell your car so someone else can drive it.

Nationwide suggests talking to your mechanic to see if repair costs will outweigh trade-in value. No need to fully restore your car, but a vehicle in like-new condition makes a good lasting impression.

2. Keep It Clean

Wash your car! As well as wax and detail it, too. Appearances count, and if the first thing a buyer or dealer sees is a filthy car, he won t even bother looking under the hood to see what s inside. A few hundred dollars (or less) for a quality car wash could increase the value of your car by thousands.

3. Keep Records

Websites like Carfax.com will have your vehicle s history on file based on its VIN number. Take it to the next step by saving copies of your maintenance and repair receipts. Document everything from oil changes to servicing.

Documenting the vehicle’s service history can increase its value by showing that it’s been well maintained, according to Nationwide.

4. Get It Appraised

Kelley Blue Book or NADA guides can only estimate what your car is worth. Contact a professional appraiser for a full inspection and true valuation of your vehicle. In tandem with repairs made from your mechanic, this will give you more bargaining power when going to trade in your car, and hopefully more value for your ride.

5. Don t Settle

If you ve learned to not take the first offer that comes along from a dealer when shopping for a new car, don t settle for the first dollar figure given to you on a trade-in. One of the best ways to increase the trade-in value of your vehicle is to shop your car around to several places and people for the best offer you can get. You never know when the next dealer will give you top dollar for your investment. And remember: it is an investment.

I realized that my car was worth more than I expected, even in its battered state. If I had done my homework and taken the steps above to improve its resale and trade-in values, I might have gotten an even higher offer.

Remember this when it s time to trade in your vehicle. You might miss the times you had together on the road but you won t miss the added savings your old friend brings you when it s time to buy a new vehicle.


How is the True Market Value Calculated from the Invoice on a Car


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How is the True Market Value Calculated from the Invoice on a Car

January 27, 2012

Invoice on cars provides a useful point at which to start negotiations. Invoice price is an amount that represents the dealership’s cost for a new car before considering other monies that are paid from the manufacturer to the dealership. The true market value is the price of new car that is dictated by current market conditions in your area. When you are shopping for a new vehicle and looking for invoice pricing information, be sure to make use of a service like CarsDirect. This service can also put you in touch with local dealerships who have new cars that meet your needs.

The best way to determine the true market value of a new car is to request price quotes from multiple dealerships. Inform the dealership of the vehicle you are looking for, and remind them that you are going to make a purchase soon. Let them know you will be going for the lowest pre-tax selling price you are offered. As the quotes begin to arrive, you can get a gauge for true market pricing in your area. Simply put, the true market value for a new car is the amount that customers are willing to pay in a given area. On popular models, the true market value may be near or above the manufacturer’s suggested retail price. However, on models that are in low or moderate demand, the invoice price should be within a few hundred dollars of a vehicle’s true market value. Market value can change on a weekly basis, so be sure to stay in touch with a dealership to get updated pricing, especially if you are actively in the market for a vehicle.

Related Questions and Answers

Is the True Market Price and True Market Value the Same Thing?

True market price and true market value are the same thing. These terms refer to the pricing that you can expect to receive in your particular market. Local price information is gathered and average prices are determined using this data. This information can be very handy when selling your vehicle or buying a new one. Car prices vary by city and state so knowing what type of price you can expect in your area can help you price your vehicle if selling. It can also give you some negotiating power when buying a new vehicle. Edmunds offers true value pricing on their site. Another way to determine the true market value of a particular vehicle is to call around and get pricing from a number of local dealerships.

Why Do You Get a Lower True Market Value When You Sell a Car to a Dealer?

When you sell your car to a dealer. you will always get a lower price than if you sell it yourself. There are a couple of reasons for this. Car dealers are experts at determining the value of a vehicle. This means they will give any trade in a thorough going over, and often find issues that a private buyer would not be aware of. More importantly, they are going to pay you a price for the vehicle that allows them to make a profit on it when they resell it. They are in the business of selling cars for a profit, and in order to do this, they must buy your car for less than they are going to get when they sell it. Selling a car to a dealer is often quicker and easier than selling it yourself, which is why many people choose to trade their vehicle in.

Is there anyone Who Buys Used Cars at the True Market Value?

One wonders ‘who buys used cars at true market value?’. Private buyers do. If you present the vehicle correctly and are a good negotiator. If you are selling a car, the only way to get the true market value is to sell it privately. If you take it to a dealership as a trade in, there is almost no chance that you will get the true market value. Car dealers need to make a profit when they resell your vehicle so they will pay you less than it is worth in the local marketplace. On the other hand, if you present a clean, quality vehicle to the private market, there is a very good chance that you will receive full market value for the car. Selling a car privately is more time consuming and less convenient than trading it in to a dealer.

Where can I find the Market Value for Used Cars?

Edmunds offers a service called true market value for a used car. which takes into account the local market when determining used car prices. They gather local pricing information and average it out to get true local pricing. You can also get the market value for vehicles by doing a little research yourself. Shopping online used car sites can give you a pretty good idea what a particular vehicle is being priced at in your area. This method of gathering pricing information can skew the prices a bit. You will be looking at the advertised price and not the selling price. If you are buying or selling a car, knowing the true market value can be a big help.


Hagerty Price Guide, Hagerty Car Value


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Is The “Hagerty Price Guide” For Classic Cars Accurate, Useful Or Worthless?

by Mike

Recently I wrote about the “Sports Car Market Pocket Price Guide”. Today I discuss the “Hagerty Price Guide” (Hagerty car value) which was originally called the Cars That Matter Price Guide .

The “Hagerty Price Guide” is published three times per year, the three issues are: Jan-Apr, May-Aug and Sept-Dec. The latest issue which I am quoting from here is May-Aug 2013 (issue 21).

The Hagerty Guide does not opine on Investment Grade and Appreciation Rating like the “Sports Car Market Pocket Price Guide” but the Hagerty Guide does provide four value numbers for each model from Condition 1 to Condition 4 where the “Sports Car Market Pocket Price Guide” only provides a high and low value based on a Condition 2 car.

The Hagerty definition of these Condition levels are at the end of this article and are printed in every issue. I will report the Condition 2 numbers from the Hagerty Guide to be consistent with the Sports Car Market Guide.

I have selected four cars to review: the De Tomaso Mangusta, the Jensen Interceptor, the Lamborghini Miura and the Apollo GT Coupe.

Let s get started.

De Tomaso Mangusta

De Tomaso Mangusta (photo by Jonathan Root )

Hagerty Guide: 1970 Coupe $131,000 302 Coupe $117,500

There are very few Mangustas that have sold recently at public auctions so actual recent sales results are hard to come by.

A 1969 De Tomaso Mangusta was for sale on eBay last November with a buy it now price of $119,900. It sold to a My Car Quest reader and I think we can assume that the actual price was not much different than the asking price.

Here is a Mangusta for sale in France for 159,500 Euros ($210,713). This may be an unrealistically high price but it is significantly higher than the Hagerty Guide.

Another Mangusta was for sale after just completing a beautiful restoration last year for $139,995.95 in Southern California. I do not know the actual sale price but the seller certainly had a high expectation much higher that the Hagerty Guide.

De Tomaso Mangusta

Jensen Interceptor

Jensen Interceptor Coupe

Hagerty Guide: 1976 SIII Coupe $31,600 Convertible $57,300

A 1972 Jensen Interceptor Series III sold for $16,252 at the Bonhams Auction, Harrogate on November 14, 2012. Based on the description it sounded like a condition 3 or 4 car.

The Jensen Interceptor convertible pictured below did not sell at auction in Monterey in August 2012 for a high bid of $72,000 .


Tips For Finding The Best Used Car for Value.


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Tips For Finding The Best Used Car for Value

When you are looking for the best used car value for your money, you have to consider the car s current price, its original selling price and its mileage. As cars get older, their value will continue to drop. This is simply due to added mileage, wear and tear and that the price a dealer can get for it is reduced. There is a window of opportunity between the time when a car is new and when it has aged a bit but maintained the bulk of its value. With low miles, purchasing a car in this range is almost like getting a new vehicle but for a reduced price. Beyond that, cars that hold their value well do so because of reliability, gas mileage and quality construction. On this list, Japanese cars dominate the used small car and SUV market while a couple of American models grace the used large and luxury car list. The used car model that is the best value depends upon the year you are looking at, the price you are willing to pay and the type of car you want.

Used Toyota Cars

Toyotas, specifically the Corolla, tops the list as the best value of used car. Keep in mind, though, that is does so for used cars with no more than 20,000 miles on them. In terms of fuel economy, reliability, space, comfort and safety features, the slightly used Toyota Corolla loses less than 20 percent of its value. This means that if you want to purchase a great used car that is practically considered new, the Toyota Corolla is the best choice. Other Toyotas that are considered the best value for the money include the Prius when it has no more than 40,000 miles, the full-size Avalon with over 65,000 miles and the Camry coupe. The Toyota Sienna minivan holds the most used car value almost across the board and the Tundra pickup truck is the best value at both 20,000 and 65,000 miles.

Used Honda Cars

When you re looking to spend less on a used car and are willing to drive away in a model with over 60,000 miles, the Honda Civic is the best choice. The Civic is known for its fuel efficiency and long-term reliability. The Honda Accord is another model that holds its value well after 50,000 miles. In both cases, although the car has some wear and tear on it, used car dealers are able to turn them around for a little less than half of what they originally sold for. For a car with that many miles on it, that is truly value. For minivans, the Honda Odyssey ranks up with the Toyota Sienna as well.

Although relatively few American cars top the list for used car value, used Ford cars, namely the Ford Fusion retains the most value for a family size vehicle with no more than 20,000 miles.

What these figures tell the discerning used car seeker is that you do not necessarily need to buy a new car to get a quality vehicle. Of course, each car is taken care of by its original owner to a different degree, but in general, the cars found in this article are the best value for your money, however much you are looking to spend.

When shopping for the best used car values. there are some important tips that can help you save money. With a wide variety of used cars for sale, it can be difficult to determine what deal works best for your situation. In general terms, some of the best used cars online in terms of value are those with uncommon options, higher mileage and vehicles from brands with uncertain futures. Be sure to use a service like Autos.com to find the best values on used cars for sale in your area. Autos.com allows you to search inventories at dealerships and can also put you in touch with specially-trained Internet sales managers at local dealerships. Internet sales staff normally provides a low-hassle purchase experience and provide up-front pricing on used vehicles. Below are several general trends that can help you get the best value on your next used car.

Uncommon Options Can Save Money

When you are seeking used cars for sale, finding vehicles with uncommon options can save you money. If you know how to drive a manual transmission and feel comfortable owning a vehicle with a clutch, manual transmission vehicles depreciate much faster than those with automatic transmissions. Not only is the purchase price lower, but a well-maintained vehicle with a manual transmission will also have lower maintenance costs than an automatic. If you re shopping for an up-level vehicle, finding one without navigation or a moonroof can save you thousands, as most buyers looking for prestige cars expect these options. If you can accept a luxury vehicle without all of the luxury touches, you can get a great deal.

Higher Mileage Equals Lower Price

In your search for the best used cars online, you re likely to find cars that were in rental fleets. These vehicles may have higher than average mileage, but rental vehicles are maintained meticulously. Other vehicles may be owned by traveling salespeople or company representatives who are on the road daily. Before finalizing a transaction on a high-mileage car, make sure to have it inspected by a mechanic. This can provide additional peace of mind. If you re purchasing from a dealership, see what types of extended warranty plans are available.

Brand Uncertainty Results in Lower Prices

Vehicles from brands that have been phased out or are in the process of being phased out can be excellent values, even on the used car market. Although the uncertainty regarding such brands has a greater impact on new car prices, the deeper discounts offered on new models also accelerate the depreciation of used cars. If you re looking at a used car from a brand with an uncertain future, you can buy with confidence, as the parent companies of these brands pledge ongoing support, and warranty coverage will simply be shifted to other dealerships.

These general tips can help you save thousands when you are looking for the best used car values. Make use of a service like Autos.com to request price quotes for vehicles available in your area. If you have any questions regarding the pricing or options on a car, contact the selling dealership directly.