How do I figure out what a used car is actually worth?
I'm trying to decide if an auction car is a good deal, but prices seem all over the place. How do I figure out the fair market value of a specific used car so I can set a sensible max bid?
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asked Mar 2, 2024, 5:49 AM by Jess M.
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Use a few sources and average them: online pricing guides, comparable listings on major classified sites, and completed auction results if you can find them. Then adjust for the car's condition using the inspection report. Set your max bid below that fair value to leave room for deposit, shipping, and taxes.
Online guides are a starting point, not gospel. Real transactions on enthusiast forums - look for 'prices paid' threads - give you actual market data.