Car Value?

[silverbeam]

I am just wondering if you want to sell say a 1 year old car and the market is calling for $140,000. eg (OMV 53k)

Looking at the paper value, its only $60,000 eg (arf$45+coe$15k). And if you sell to the dealer, does he use the paper + body formula? The body cant be worth more than the OMV, there is a gap of $80k. Unless paper + body formula is only used for cars 3years and beyond?

Thanks

 

[hoks]

Re: Car Value?

I guess for 1 yr old car its more like new car price less 20% instead of calculating based on scrap value?

 

[silverbeam]

Re: Car Value?

I guess for 1 yr old car its more like new car price less 20% instead of calculating based on scrap value?

Yeah i think its abt there... not quite sure when does scrap and body price starts kicking in - I think based on local demand. We are then at the mercy of this ambiguity