What is the Calculation Method for Used Car Prices?

[LaNorah]

The calculation method for used cars is as follows: the first three years see an annual depreciation of 15%, the next four years see an annual depreciation of 10%, and the final three years see an annual depreciation of 5%. Check the market price of new cars: Check the market price of the same model. If there is no identical model available, you can refer to the closest new car from the same brand, adjusting for added or removed configurations to arrive at the closest new car market price. It's important to note that the manufacturer's suggested retail price (MSRP) is not a reliable reference in this process. Adjust for price deviations: Generally, the listed prices of used cars in traditional used car markets have a negotiation margin of 5% to 20%. Relatively newer used cars (less than 5 years old) are often sold quickly as sellers are unwilling to hold onto them for long and may accept lower profits. Older used cars (over 5 years old) are less time-sensitive, so sellers may not be in a hurry to sell if the price isn't right. If the used car is a rare model or has been discontinued, there is usually more room for price negotiation.