Thursday, October 21, 2021

'Auto Trends' Talks To A Used Car Manager About What Drives Appraisal Calculations

Pre-owned Car Manager Rachel Pitman (Photo Credit: RP)

For anyone who has been in the market recently for a used car, they’ve noticed that their dollar doesn’t go far these days. The cost to purchase a used vehicle today is more than it was prior to the pandemic. In fact, according to Manheim Used Vehicle Index, wholesale used vehicle prices, which is the amount dealers pay for their automobiles, increased by 8.3% in the first 15 days of October compared to the entire month of September. And when looking at a year-to-year comparison, the value of used vehicles has increased by a whopping 37 percent from October 2020.

As a result of the Pandemic and other variables, the market has been topsy-turvy in terms of supply and demand, leading the average used car list price on dealership lots to be a hair under $26,000, as of the end of August, according to automotive sources. Like with the housing market, it’s a great time for sellers, but not so much for buyers.

So, before heading out to a store to trade-in a vehicle, Rachel Pitman, the pre-owned car manager of Marysville Toyota, shares the inside scoop on how she determines the actual appraisal of a vehicle. Pitman, which is based in Marysville, Washington, answers everything from if one should have the check engine light repaired to paying for a professional detail to the value of add-ons to if the color of a car affects the evaluation. Furthermore, Pitman is really a double threat in the industry. Unlike most pre-owned managers, this pre-owned car manager began her career writing repair orders and the like in the service area of a dealership.

To maximize the value of your trade-in, tune in Saturday, October 21 thru Thursday, October 28. For more details, click here.





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