What Does "Market Value" mean? 

Getting the best price possible on Pre-owned cars for sale in Minneapolis


What exactly does "market value" mean? At Lincoln of Bloomington, you might hear us say, "We price all our pre-owned cars in Minnesota at or below Market Value." Whether you're buying or selling pre-owned vehicles, you want to know if you're getting a fair deal. You want to know how car dealers determine your vehicle trade in value. To get a full understanding of what "market pricing" is, you need to learn the answers to these important questions. 

Although it's a vague term, "market value" refers to the price your vehicle could sell for locally. Market pricing considers the average of a vehicle's "retail value," which is the price a consumer would pay to the dealership, and its "trade/book value," which refers to the price the dealership would pay you for your vehicle prior to any markup costs. 

How is market price determined?


Several factors determine the market price of pre-owned cars, trucks, and SUVs for sale in Minneapolis. Factors like national sales trends, local economic conditions, and auction data all make up what will be the value of your vehicle. When it comes down to it, the value of your car will be whatever the purchaser is willing to pay for it. 

 


Why and how we daily price?


We are constantly watching auctions, purchases and trade values to determine pricing every 4 hours with changing roughly about 50-60 units a day to get you the most accurate and upfront price.


Luckily, there are many resources to help you determine your vehicle's value.