Category Archives: Value of Used Cars

Front view of the 2022 Mercedes-Benz CLA 250 in blue

Where Can I Purchase an Affordable Used Mercedes-Benz Vehicle near Raleigh, NC?

Purchase a Used Mercedes-Benz Vehicle at Auction Direct USA

Purchasing a luxury car doesn’t have to be expensive anymore. Head over to the Auction Direct USA dealership or online inventory to explore a wide range of top-quality luxury cars brands like Mercedes-Benz, Audi, BMW, Jaguar, Lincoln, and many others. Read this blog to explore the advantages of purchasing a used Mercedes-Benz vehicle at Auction Direct USA in Raleigh, NC.

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Front view of the 2019 Honda passport off-roading

Where can I buy used Honda vehicles near Raleigh, NC?

Purchase a used Honda vehicle near Raleigh, NC

Honda vehicles are best known for their strong mechanical components that significantly increase their reliability scores, making them capable of covering hundreds of thousands of miles. At Auction Direct USA, you can choose from a wide array of used Honda vehicle models for your next ride. Let’s explore some of the key features of purchasing a used Honda vehicle at Auction Direct USA in Raleigh, NC.

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2021 Toyota Camry on road.

Why Is the Toyota Camry Regarded as a Reliable Used Vehicle?

What are the Specs That Make a Used Toyota Camry Reliable?

Toyota Camry is known as one of the most reliable used vehicles. Do you know why? It is widely accepted among car lovers and is among the most affordable best-selling vehicles in the United States. Camry offers ease of access, is available in different styles, and is very reliable in terms of safety. All these factors make Toyota Camry a reliable used car. Join us at Auction Direct USA in Raleigh, NC, as we explore all the factors that make Toyota Camry a much-loved used vehicle.  Read on to continue.

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A red 2017 Ford Escape with a turbocharged engine driving down an open road.

Will My Insurance Go Up if I Buy a Vehicle With a Turbocharged Engine?

If Insurance Companies Will Charge You Extra for Buying a Turbocharged Engine

The time has come; you found the perfect vehicle for you and you intend to purchase it. You’ve made the necessary budgetary moves and can finally get that vehicle with a turbocharged engine. But wait – will there be more expenses you aren’t thinking of from your insurance agency? Will my insurance cost rise if I buy the turbocharged vehicle of your dreams? At Auction Direct USA, we go over some thoughts on if your insurance will rise because of a vehicle purchase.

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True Market Value of Used Cars

True Market Value of Used Cars at Auction Direct USA

True market value of used cars, True Market Value (or TMV) is one of the most efficient pricing tool that gives all potential car buyers a chance to score a good deal when buying a used vehicle. The TMV figure is based upon actual sales data and market forecast and offers a guide as to what other buyers in your area paid for a vehicle of the same model and make.

Knowledge of TMV is essential in helping buyers negotiate the price of a new car. It also comes in handy when calculating the trade-in value for a used vehicle. Additionally, all private-party buyers can easily use the True Market Value of Used Cars to set the price for their used cars.

True Market Value of Used Cars Buyer Benefits

Whether you’re buying a used vehicle from a private party or a dealership, it is important that you know a car’s cash value. This value depends upon multiple factors such as a vehicle’s age, condition, mileage, any optional equipment offered, the region in which it is sold, the trim level and several other factors.

Retail price is the price a dealership charges when selling a used car. It is considerably higher than the average market price as it often includes the dealership’s margin. In contrast, wholesale price or trade-in value is the price charged by private dealerships which is almost at par with the true value of the used car.

Whether you’re buying a used car from a dealership or a private party, determining the true value of the used car is critical. It allows you to determine the profit margin of the respective seller and helps you set limits for your purchasing power (e.g. if a seller is offering a used car at TMV + 20%, you can check out other sellers).

In some cases, used cars go to wholesale auctions. In such circumstances, the auction price is set as the purchase price for the vehicle. If you’re a dealer or a broker looking to buy cars for resale purposes, it is necessary for you to calculate the true value of the used car.

This helps you keep track of the value-addition, in the price of the vehicle, as it passes from one dealer or broker to another, till it reaches the eventual buyer. It also helps you in setting your own profit margin.

Car Appraisal

True Market Value of a Used Car is also an important appraisal tool. Most of the car dealerships, such as Auction Direct USA, offer an online calculator for determining the price of a used vehicle. Simply enter the car’s model and make, year, mileage and conditions, and the calculator gives you a figure as to its worth.

The same value also comes in handy when setting up a lease plan for the used car. The monthly lease payments are based upon the sales value of the car. The lower the true market value of used cars, the lower the monthly payments required. It’s easier for you to calculate the estimated lease payments and determine the best option for you, this way.

To learn more about the True Market Value of Used Cars and how they can benefit you, please feel free to contact us!