Whether you are trading your car, buying a car or selling a car, starting with the right value will help you save money. Our values are used every day by thousands of dealers spending millions of dollars. That puts a tremendous responsibility on us to be accurate and speaks volumes about the confidence dealers have placed in Galves. It is a responsibility we have taken seriously for 50+ years as we have become the #1 dealer guide in the country. Doesn't it make "$ense" to be on the same page as your dealer?
Seven Ways Galves values can help you make well-informed decisions:
1) Trade-in values - Unlike many other pricing guides that base their values on an auction perspective, private sales, or retail-ready vehicles, our values represent a trade-in perspective. This best reflects what dealers will allow for vehicles whether they choose to wholesale them directly to dealers, sell them at auctions, or prepare them for their retail lots. Our pricing is a reliable indication of what you can expect as a trade-in allowance. (see: Trading Your Car)
2) Selling a vehicle to a dealer - Because our pricing takes into account some of the costs in preparing a vehicle for retail, it is a reliable starting point for a dealer to use when purchasing a vehicle. Keep in mind, however, that if your vehicle is not really suitable for retail, the dealer will want to own your vehicle at a price where he will be able to sell it to a wholesaler at a profit, or sell it at auction for a profit. (see: Selling Your Car)
3) Buying a vehicle - We don't publish retail numbers because, unlike wholesale numbers, there is little reliable information regarding actual transaction prices. There are also a variety of retail pricing levels, starting at the low end with private (consumer-to-consumer) sales that usually include little reconditioning and no warrantees, and ranging all the way up to the top level, retail sales by franchised new car dealers that include high levels of reconditioning or certification and substantial warrantees. However, retail pricing is highly dependent on what a vehicle can be bought for in the wholesale (dealer-to-dealer) market. We can say with confidence that if the difference between reliable trade-in pricing such as ours and the suggested retail seems unrealistically high, something is probably wrong and worth exploring. That can mean the retail pricing is exceedingly high and therefore may lead the consumer into thinking he is getting a good deal when he really isn't. (see: Buying a Car)
4) Estimating Depreciation- When consumers are buying a new or used vehicle, they often overlook depreciation. Thinking about what your car will be worth in 3, 4 or 5 years can help you make well thought out decisions when considering various models and save you thousands of dollars. You can use Galves current values to help you "look into the future" and compare how much the vehicles you are considering will probably be worth down the road. (see: Depreciation: The Most Overlooked Factor in Buying a Vehicle)
5) Lease End Buy-out - At lease termination, many people contact us when they have an opportunity to purchase the vehicle they have been driving. Our pricing is an indication of what the lease company is likely to get for the vehicle, after expenses, through its normal remarketing channels. The lease company will look to negotiate upwards from our value. From a consumer's standpoint, a reasonable price to pay will be somewhere between the Galves "trade-in" value and advertised retail pricing of dealers for a similar vehicle.
6) Private sale pricing - A pricing rule-of-thumb for private sales is around the midpoint of our value and dealers' advertised retail pricing for similar vehicles. Remember, pricing it too high will usually result in a "no-sale." (see: Selling a Car)
7) Legal settlement - Because our prices reflect a realistic wholesale value rather than a retail or private sale value, they are an accurate and fair assessment of what a vehicle is worth for most legal purposes. We have provided this service thousands of times to estate executors, lawyers and accountants and have never encountered a single problem concerning the validity of our values for these purposes.
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