Monday, November 5, 2007

What is my used car worth?

When shopping for a used car, I have always wondered what I should offer the seller. While the normal resources, KBB, Edmunds and NADA all provide guides as to what a used car is worth, given its mileage and condition, these are only suggestions.

I have always wanted to know what people really paid - what did the seller ultimately accept as a price? Full price? 10% off of the asking price? 40% off of the asking price? After all, car sellers can price their car based on a number of things: emotion, unrealistic expectations, a false sense of reality, the list goes on... Furthermore, none of these attributes are regulated or tracked very closely.

As far as I can tell, there isn't a place to see what people actually paid for their used car - after their negotiating, low-balling, or begging. For houses, the actual sale values are a matter of public record. Websites such as Zillow and many others openly provide sold home values. For cars, there is no such resource - until now.

PriceHub was founded to provide car buyers and sellers a way to see actual values for their cars and trucks. By allowing consumers to submit the prices they actually paid, other consumers can benefit and learn. Is $31,000 worth it for that 1999 Porsche 911 Coupe? Is the Toyota Prius with 3,000 miles worth $22,500? These questions can now be answered to a certain extent by the actual prices other people paid for similar cars.

For used car buyers, PriceHub is a great way to get a feel for how much the car you are interested in is worth.

For used car sellers, PriceHub is a great way to see how much you can charge for your car - you'll get to find out what people actually paid for a car with similar miles and options.

With PriceHub, you will hopefully be able to answer the question, "What is my used car worth?"

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Jacob Rodman said...

Hey, thanks for this article. It's quite useful. There are some people out there hunting for a used car but don't have the time to look at and compare prices. This can help them a lot. Thanks for sharing!

Ivo Beutler said...

Hmmm, I think that guide is very essential, especially for car dealers who want to know how much a typical used car is. Fairness is truly the basis for dealing the best price and having a good reputation among potential buyers. Thanks for that tip. :)

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Arthur said...

The last time I bought a used car, I radically changed my opinion about the used vehicles' industry. You can check the car several times find out all the information about the engine, the manufacturer and etc ... in the future, this purchase will really bring you joy. In general, a retro car is the most reliable that I have seen in my life! Its true!