Advertise on Bikeforums.net



User Tag List

Page 1 of 2 12 LastLast
Results 1 to 25 of 35
  1. #1
    Look! My Spine! RubenX's Avatar
    Join Date
    Apr 2008
    Location
    Winter Springs, FL
    Posts
    539
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)

    Car's fair market value

    I need to calculate the "fair market value" of my car. According to some online calculators I get 3 different values:

    1) Trade in Value: $531
    2) Private Sale Value: $950
    3) Dealer Value: $1,500

    Which one should be considered the "fair market value"? I think is #2 but I'm not sure.
    "Hoy es un dia normal, pero yo voy a hacerlo intenso" ~ Juanes

  2. #2
    Banned Indy_Rider's Avatar
    Join Date
    Dec 2004
    Location
    On a boat
    My Bikes
    2000 Fisher Paragon, 2005 Giant OCR2, 2006 Bianchi SASS, numerous others
    Posts
    56
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    With that low of a value, it doesn't matter.

  3. #3
    You Know!? For Kids! jsharr's Avatar
    Join Date
    Apr 2005
    Location
    Just NW of Richardson Bike Mart
    My Bikes
    '05 Trek 1200 / '90 Trek 8000 / '? Falcon Europa
    Posts
    6,084
    Mentioned
    12 Post(s)
    Tagged
    3 Thread(s)
    It is worth what someone will pay for it. Your car is famous in Foo. Sell it to one of your fans.
    Are you a registered member? Why not? Click here to register. It's free and only takes 27 seconds! Help out the forums, abide by our community guidelines.
    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  4. #4
    Banned. ModoVincere's Avatar
    Join Date
    Aug 2006
    Posts
    1,628
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    How much will insurance pay if you total it?
    BTW...what is it? A yugo? A chevette?

  5. #5
    derailleurs are overrated bigbenaugust's Avatar
    Join Date
    Feb 2005
    Location
    KIGX
    My Bikes
    2009 Motobecane Fantom CX, 2012 Motobecane Fantom Cross Uno SSCX
    Posts
    1,739
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Wait, is this the Hyundai?
    --Ben
    Carrboro Bike Coalition - putting the "bike" in "CARrboro" :)
    2011 Motobecane Fantom Cross Uno, 2009 Motobecane Fantom CX
    Previously: 2000 Trek 4500 (2000-2003), 2003 Novara Randonee (2003-2006), 2003 Giant Rainier (2003-2008), 2005 Xootr Swift (2005-2007), 2007 Nashbar 1x9 (2007-2011), 2011 Windsor Shetland (2011-2014)
    Current Linux Usage (by machine): Arch: I openSUSE: III

  6. #6
    Senior Member
    Join Date
    Sep 2007
    Posts
    8,525
    Mentioned
    4 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by RubenX View Post
    I need to calculate the "fair market value" of my car. According to some online calculators I get 3 different values:

    1) Trade in Value: $531
    2) Private Sale Value: $950
    3) Dealer Value: $1,500

    Which one should be considered the "fair market value"? I think is #2 but I'm not sure.
    "Trade in value" is (basically) a wholesale value (it's not a "market value").

    I'm not sure what "dealer value" is (maybe, it's what a dealer could sell a car with some sort of warranty).

    OK. It appears that the "dealer value" is what a dealer (not a private individual) could sell a car for.

    http://www.consumerreports.org/cro/2...orth/index.htm

    Since you are not a dealer, the "private sale value" is the appropriate price.

  7. #7
    GATC
    Join Date
    Jul 2006
    Location
    south Puget Sound
    Posts
    6,609
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    It's good to keep the trade-in value in triple digits!

  8. #8
    GATC
    Join Date
    Jul 2006
    Location
    south Puget Sound
    Posts
    6,609
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by ModoVincere View Post
    How much will insurance pay if you total it?
    Anybody have any insight to this? I would hope the 'dealer value'.

  9. #9
    You Know!? For Kids! jsharr's Avatar
    Join Date
    Apr 2005
    Location
    Just NW of Richardson Bike Mart
    My Bikes
    '05 Trek 1200 / '90 Trek 8000 / '? Falcon Europa
    Posts
    6,084
    Mentioned
    12 Post(s)
    Tagged
    3 Thread(s)
    Depends on wording of policy I would think, as far as what they would pay. A call or email to your agent might help place a value on the car, at least for ins. purposes. Also, does the kitchen table / work stand come with the car?
    Are you a registered member? Why not? Click here to register. It's free and only takes 27 seconds! Help out the forums, abide by our community guidelines.
    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  10. #10
    Banned Indy_Rider's Avatar
    Join Date
    Dec 2004
    Location
    On a boat
    My Bikes
    2000 Fisher Paragon, 2005 Giant OCR2, 2006 Bianchi SASS, numerous others
    Posts
    56
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by HardyWeinberg View Post
    Anybody have any insight to this? I would hope the 'dealer value'.
    Yes, they pay you how much it would cost for you to go out and buy the exact vehicle, so dealer price minus deductible.

    So in the case of this car, nothing.

  11. #11
    GATC
    Join Date
    Jul 2006
    Location
    south Puget Sound
    Posts
    6,609
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Indy_Rider View Post
    Yes, they pay you how much it would cost for you to go out and buy the exact vehicle, so dealer price minus deductible.

    So in the case of this car, nothing.
    I was thinking in the case of this car it would be an at-fault party's liability policy paying, so no deductible there at least!

  12. #12
    Banned. ModoVincere's Avatar
    Join Date
    Aug 2006
    Posts
    1,628
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by HardyWeinberg View Post
    I was thinking in the case of this car it would be an at-fault party's liability policy paying, so no deductible there at least!

    Fl. is a no-fault state....good luck on that plan.

  13. #13
    Banned Indy_Rider's Avatar
    Join Date
    Dec 2004
    Location
    On a boat
    My Bikes
    2000 Fisher Paragon, 2005 Giant OCR2, 2006 Bianchi SASS, numerous others
    Posts
    56
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by ModoVincere View Post
    Fl. is a no-fault state....good luck on that plan.
    Seriously? In that case, I need to take my wife's car down to FL and play demolition derby. Because of Mitsu's famous bad paint, her car isn't worth squat, though book value puts it at 6K. Reality is I can't even get 1K out of it.

  14. #14
    Banned. ModoVincere's Avatar
    Join Date
    Aug 2006
    Posts
    1,628
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Indy_Rider View Post
    Seriously? In that case, I need to take my wife's car down to FL and play demolition derby. Because of Mitsu's famous bad paint, her car isn't worth squat, though book value puts it at 6K. Reality is I can't even get 1K out of it.
    you'd be an out-of-state driver.....they'd find a way to blame you.

  15. #15
    Banned Indy_Rider's Avatar
    Join Date
    Dec 2004
    Location
    On a boat
    My Bikes
    2000 Fisher Paragon, 2005 Giant OCR2, 2006 Bianchi SASS, numerous others
    Posts
    56
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by ModoVincere View Post
    you'd be an out-of-state driver.....they'd find a way to blame you.

  16. #16
    Banned.
    Join Date
    Mar 2009
    Location
    Southern Illinois
    My Bikes
    Cannondale Caad4, Schwinn moab
    Posts
    2
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Have couch torch it just for fun

  17. #17
    Senior Member jdon's Avatar
    Join Date
    May 2009
    Posts
    4,178
    Mentioned
    5 Post(s)
    Tagged
    0 Thread(s)
    1) Trade in Value: $531 - WHOLESALE
    2) Private Sale Value: $950 - WHAT SOMEONE HOPES A SUKKA WILL PAY
    3) Dealer Value: $1,500 - RETAIL

    Fair market value is between 1 and 2.
    Quote Originally Posted by maddmaxx View Post
    How are you ever going to live in the real world if you can't get along with people who don't believe what you do?

  18. #18
    Senior Member himespau's Avatar
    Join Date
    Jun 2008
    Location
    Louisville, KY
    Posts
    7,556
    Mentioned
    4 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by ModoVincere View Post
    Fl. is a no-fault state....good luck on that plan.
    Did it become a no fault state due to heavy lobbying by blind, demented seniors who don't want to be kept off the road?
    Punctuation is important. It's the difference between "I helped my uncle, Jack, off a horse" and "I helped my uncle Jack off a horse"


  19. #19
    Look! My Spine! RubenX's Avatar
    Join Date
    Apr 2008
    Location
    Winter Springs, FL
    Posts
    539
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Just to update. The Hyundai is fine, I am fine. No accidents or insurance claims... this is just for some financial affidavits I need to fill out.
    "Hoy es un dia normal, pero yo voy a hacerlo intenso" ~ Juanes

  20. #20
    GATC
    Join Date
    Jul 2006
    Location
    south Puget Sound
    Posts
    6,609
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by RubenX View Post
    Just to update. The Hyundai is fine, I am fine. No accidents or insurance claims... this is just for some financial affidavits I need to fill out.
    in that case pick a high or low end depending on which way you want to come across.

  21. #21
    GATC
    Join Date
    Jul 2006
    Location
    south Puget Sound
    Posts
    6,609
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by ModoVincere View Post
    Fl. is a no-fault state....good luck on that plan.
    Does that mean that each driver's car is covered only by his own policy? Wow.

  22. #22
    Banned. ModoVincere's Avatar
    Join Date
    Aug 2006
    Posts
    1,628
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by HardyWeinberg View Post
    Does that mean that each driver's car is covered only by his own policy? Wow.
    honestly, I don't know what it means....I just remember being told at the auto rental desk that it's a no fault state. For all I know, that could have been a sales pitch.

  23. #23
    derailleurs are overrated bigbenaugust's Avatar
    Join Date
    Feb 2005
    Location
    KIGX
    My Bikes
    2009 Motobecane Fantom CX, 2012 Motobecane Fantom Cross Uno SSCX
    Posts
    1,739
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    I was going to start a Kickstarter page so we could buy his Hyundai, as it is a Foo icon.
    --Ben
    Carrboro Bike Coalition - putting the "bike" in "CARrboro" :)
    2011 Motobecane Fantom Cross Uno, 2009 Motobecane Fantom CX
    Previously: 2000 Trek 4500 (2000-2003), 2003 Novara Randonee (2003-2006), 2003 Giant Rainier (2003-2008), 2005 Xootr Swift (2005-2007), 2007 Nashbar 1x9 (2007-2011), 2011 Windsor Shetland (2011-2014)
    Current Linux Usage (by machine): Arch: I openSUSE: III

  24. #24
    Chepooka StupidlyBrave's Avatar
    Join Date
    Sep 2006
    Location
    South Central PA
    My Bikes
    1990 Trek 1400 7spd; 2001 Litespeed Arenberg 10 speed
    Posts
    1,157
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    I'll kick in 42 cents.

  25. #25
    Senior Member
    Join Date
    Apr 2012
    Location
    Chicagoland area
    My Bikes
    1995 Specialized design Full Force
    Posts
    80
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    The online price guides are pure crap. Only way to get true value is an appraisal. Closest thing you could do yourself is to look at the asking prices of the same model similar condition and deduct about 30%.

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •