How to Determine the Value of a Salvaged Car Three Methods: Determining Retail
and Trade-In Values,Calculating the Current Market Value,Determining the Salvage
Value Although there is not one set calculation for determining the value of a
salvaged car,there are basic methods you can use to determine the approximate
salvage value. The value of a salvaged car relies heavily on the amount of
damage it has sustained,and also on the exact mathematical formula used by the
insurance company. First,you must determine the current retail and trade-in
values for the car based on its year,make,and model,which are used to calculate
the car's market value. You must then contact your insurance company to obtain
the percentage rate they use against the market value in determining the final
salvage value. Continue reading this article to learn of the steps you must take
to determine the approximate value of a salvaged car. Method 1 of 3: Determining
Retail and Trade-In Values 1. Use blue book tools to evaluate the car's values.
Both the retail value and trade-in value (also known as wholesale value) for
your car will be found in a blue book. Consult with the Kelley Blue Book,NADA
Guide,or Edmunds websites to determine both the retail and trade-in values of
your car. Method 2 of 3: Calculating the Current Market Value 1. Use the retail
and trade-in values to determine the car's market value. The market value will
be an average of the retail and trade-in values Porsche
Piwis Tester II. Add the retail and trade-in values,then divide the sum by 2
to obtain the current market value. For example,if a car has a retail value of
7,000 dollars (5,502 euros),and a trade-in value of 5,000 dollars (3,930
euros),the sum is 12,000 dollars (9,432 euros). 12,000 divided by 2 is 6,000,so
the market value of the car will be 6,000 dollars (4,716 euros). Method 3 of 3:
Determining the Salvage Value 1. Contact your insurance company to obtain the
percentage used for the salvage value calculation. Every insurance company uses
a different percentage based on their policies and procedures in assessing the
damage of the salvaged car. In most cases,the percentage used by insurance
companies is between 75 and 80 percent. 2. Calculate the value of the salvaged
vehicle. The salvage value calculation will require you to use the market value
and the percentage given to you by your insurance company ds708
autel. Multiply the market value by the percentage provided to you by the
insurance company. For example,if the market value of your car is 6,000 dollars
(4,716 euros),and the insurance company calculates the salvaged value using 80
percent,the salvaged value of the car is 4,800 dollars (3,772 euros).
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