Question-------------------------
Followup To
Question - Hi Paul, No the car did not have to have body damage, it could be in good condition. I live in North Philadelphia, zip 19122. How do you get a trade in value for a 2005, three years from now? All the information I found only started with 2005, nothing showing future dates. Project had to be handed in today. But I am very curious about how to calculate
the trade in value 3 yrs from today. Or maybe we just didn't understand the question. Thank for sheading some light on this!
Sincerely,
Patti
AnswerHi Patti
My name to start is not Paul its Ray...maybe in your thinking you got it mixed with my last name Paulsen...
Sorry Patti we missed the deadline...the answer is very simple...
A vehicle depreciate the very first year being on the road about 27 to 28% after that a vehicle in price range $ 15, to $ 30,000 range drops in value about $ 2500 a year...and vehicles $ 40 to 70,000 range about $ 5000 a year...
I know were a little late but all you had to do for this project was...to get a price from a dealer on a 2005 car and then go autotrader.com punch in your zip to see what same vehicle would be worth being a 2002 model with same features...
hope this answers your Q
Ray
