Thursday, January 19, 2012

How can I determine what a (used) car might cost in the future?

I know that the car that I am referring to stands approximately 35 grand brand new, but I haven't any idea how much the person who has it now bought it (he just bought it, so he bought it used as well). In the future (between 2 and 4 years), how can I determine how much the car will cost, being sold for the third time to a third owner, built in 2010. Is there any way to figure out the value?How can I determine what a (used) car might cost in the future?
look in kbb.com for the exact car only 3 to 5 years older for the approximate price of your carHow can I determine what a (used) car might cost in the future?
Most brand new cars lose approximately 12% - 15% of it's value for every year up to the fifth year. By the fifth year the car should be worth about half what it costs brand new.



Another way to determine value is to look at similar cars (as long as it isn't a brand new model) that is the same age as the car will be when you want in in 2 - 4 years. For example. If you want to know what the value of a 2010 Honda Accord will be in 2014 then look at the value of a 2007 Accord today in 2011. Compare the new car price to the current value. This will tell you how much the price has dropped since that 2007 rolled off the showroom. Apply that same ratio to the 2010 model year.How can I determine what a (used) car might cost in the future?
Think about what cars were 35,000, 4 Years ago and find out what the price is now.

That should help you.

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