How to Calculate Value of Company Vehicle
When you purchase a home, the value of the home usually increases over time. When you purchase a car, the value depreciates. There are many reasons why car values depreciate. For example, the more miles you have on the car, the less money it will be worth. Other factors in determining the value of a car include the year, make, model and condition. Your vehicle will have an actual value, a dealer trade-in value and a private-party value.
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Instructions
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Select a trusted website dedicated to used car values. Kelley Blue Book is a trusted resource as well as NADA (see Resources). Use their websites or order a hard copy of their current car value guide.
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Choose the used cars section. Whether you're using the online guide or physical guide, you need to locate the used cars section.
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Locate the vehicle. Use the make, model and year to narrow your search. The physical guide will have specific sections for you to follow. The online guide will ask you to enter this information or select from available options.
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Determine the vehicle mileage. For an accurate value report, enter mileage online or search the guide according to the exact number of miles found on the cars mileage counter.
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Notate the vehicle features. Luxury items, such as powered seats, powered windows, leather interior and a sunroof, will increase the car's value. The online guide will ask you to check off these features. The physical guide will show you how much money each feature will add to the car's value.
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Determine the car's condition. If the car is damaged or not running, this will decrease the car's value. Both versions of the guide will explain how to determine the car's condition and ask you to rate the condition. You can choose from excellent, good, fair and poor.
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Obtain the vehicles value. The online guide and the physical guide provide you with the value of the car based on the information you entered or searched under.
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Tips & Warnings
To determine the value of a vehicle, you can also send the car to a nearby Carmax for a free estimate.
