When buying or selling a car, knowing its fair market value is a must. People who rely on book value, which is derived from automobile price guides such as Kelley Blue Book and NADA, are most likely being misled. Using automobile price guides is a good resource for determining value, but is incomplete. Book value tells you what an automobile is worth with limited inputs and variables, which are needed to determine fair market value. Cosmetic and mechanical condition drastically affect value, as well as how many previous owners there have been, maintenance records, previous accidents, and so much more.
Professional automobile appraisers use book values as merely a starting point in determining fair market value. Retail and auction data need to be used. A visual inspection is required. The list goes on and on. If you want to know the fair market value of an automobile, get an appraisal from a certified appraiser. Do you have questions or want to schedule an appraisal? Take a look at our Appraisals page on our website: https://www.insightautogroup.com/appraisals and contact us.
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