When the average person sets out to sell his/her vehicle they mostly phone the insurer or page through car-related publications such as Junkmail, Autotrader etc, to come up with an asking price.
Advertised prices and insured values are highly deceiving with reference to the value of a vehicle!
Dealers often advertise in the same place as private people, but they offer a lot of additional services like finance, warranties and so on, but at a much higher price.
So unknowingly, private people use these prices as a cue, but for selling cash up front without adding value like finance or the like.
When you compare prices it is very important to compare apples with apples; you need to compare cash-sale with cash-sale, finance sale with the same terms finance sale.
Prices advertised and final selling prices differ greatly.
An advertised price could simply be too high; result being that your vehicle will just not sell. So you must base your research on actual sold cars.
If you are interested in the values of the new cars on the market, these prices are listed in an index in the Car Magazine that is published monthly in South Africa.
At the end of the day it is not the Book Value or the Insurance Value or the Trade-In Value that determines the value of a car.
It is worth what cash buyers are prepared to pay.
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