My consumer math assignment says : " Mr. Johnson found on the internet that his car had a 'trade-in value' of $4295 but a 'retail value of $9110. Check the internet and find out what these values mean and why such a difference exists." But I have looked for that and all I can find is the trade in values for specific cars...please help me?
2006-12-08 06:23:01 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
The trade in value is how much dealers will typically buy your car from you for when you buy a new one.
Retail value is what a dealer typically sells it for.
In your situation, The dealership would buy Mr. Johnson's car from him for $4295, then they would sell it to someone else for $9110, making a profit of $4815
2006-12-08 06:32:02 · answer #1 · answered by Kyle H 4 · 1⤊ 0⤋
A lot of money in your pocket vs. the dealer's pocket. Trade in is the lowest value, which is assigned by dealers when you trade in your car to buy another car. The dealer discounts the market value of your car so he/she can make a profit on resale. If you sell by yourself (which is often tough) you should hope to get retail value. However, realistically you probably will get somewhere south or retail and north of trade in if you succeed in selling yourself.
2006-12-08 06:46:07 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The trade value is much less, because that's how much money will go toward another car if you trade this car in at the dealership. Retail value is how much they should sell it for. Most likely you want to look at retail.
2006-12-08 06:26:19 · answer #3 · answered by dontimaginetheyllallcometrue 4 · 0⤊ 1⤋
The Trade in value is when the dealer rips YOU off.... the Retail value is when the dealer rips the next guy off!
2006-12-08 07:10:27 · answer #4 · answered by truthinhistory 2 · 2⤊ 0⤋
Trade in value is what I would like to buy a car for and reatil value is what I would like to sell it for so I can make a healthy profit.
Its a profit thing.
2006-12-08 06:26:07 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Visit edmunds.com and research a used vehicle. Use the appraisal tool. It will tell you exactly what you are looking for and give some expanded details on their definitions.
Hope this helps. I generally don't like doing folk's homework for them, but this info is good stuff.
2006-12-08 06:26:15 · answer #6 · answered by Lemar J 6 · 0⤊ 1⤋
Go to kbb.com. They kind of explain what the values mean.
2006-12-08 06:32:28 · answer #7 · answered by ? 4 · 0⤊ 1⤋
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2006-12-10 20:16:12 · answer #8 · answered by fdsg s 1 · 0⤊ 0⤋