Consumer Reports used car Guide

July 16, 2015
Buick Enclave

Whether you are buying from a dealership or a private party, it’s important to know a car’s current cash value. This depends on a number of factors, including the vehicle’s age, mileage, condition, trim level, optional equipment, and even the region where it’s being sold. For any used car there are two prices: retail and wholesale.

Retail price. This is the higher of the two prices, and is what you would expect to pay for the car if you were buying a car at a dealership. If you are buying it from a private seller, you can usually expect to pay a somewhat lower price. Retail is also considerably higher than the price you’ll receive for your trade-in because it includes a profit margin for the dealership.

Wholesale price/trade-in value. This is essentially a car’s trade-in value to a dealer, who will likely sell it to someone else for profit. Understandably, the trade-in price is much lower than the retail price, and it is unlikely that you will be able to buy a used car for this price.

But it’s a figure you should know if you’re trying to decide whether to trade in your current vehicle or sell it yourself.

In the wholesale end of the business, a car can actually command several prices. One is what the dealer offers a customer as a trade-in. Then there’s a dealer-to-dealer price when one dealer sells that car to another. If the car goes to a wholesale auction, which many do, then there is an auction price. Dealers and brokers may buy auction cars for resale. Every step of the way, the middlemen take a markup and the car acquires a new “value.”

Source: www.consumerreports.org

INTERESTING FACTS
INTERESTING VIDEO
[PDF] Consumer Reports Used Car Buying Guide Read Online
[PDF] Consumer Reports Used Car Buying Guide Read Online
Read Consumer Reports Used Car Buying Guide 2003 Ebook Free
Read Consumer Reports Used Car Buying Guide 2003 Ebook Free
Share this Post