I have a 1992 BMW conv w/ 40K original miles & in perfect condition . How do I assess value since the Blue Book will not reflect the car's condition?

January 08, 2008

Posted by jetfuel

( 1 rating )

The best way to value a used car is to establish at least a few pricing levels, and then arrive at a balanced price. In this situation, we are trying to determine the value at which the used car will sell in the local region. This is commonly called the “Fair Market Value.”

First, we will look at the cost of other similar cars for sale in the local market.

A good place to start is with AutoTrader. From their site, search for a car similar to your vehicle (year, make, model, and mileage) within 100 miles. (Searching an area that large should yield plenty of results.) If you are not having much luck finding similar vehicles on AutoTrader, try UsedCars.com, Cars.com, or Autos.AOL.com.

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