Older Vehicle Considerations
VMR Older Car Pricing values vehicles in three conditions. As a vehicle gets older, the most important factor in determining value is condition. Trim level, equipment, even mileage are secondary. It's not uncommon for a 15-year old expensive luxury car to be worth less than an economy car of the same model year that has received exceptional care through its lifetime.
An older vehicle that combines superior condition with low mileage is worth considerably more than an average vehicle, particularly among luxury makes. Depending on the model and condition, values can exceed our "Excellent" valuations for exceptional examples.
Finally, values in our older car section are not assigned a wholesale and retail number. Because the wholesale market is not as defined or transparent for older vehicles compared to late model vehicles, we use a general "market value" which you can use for assigning value for both private party and dealer transactions. Older used cars are usually found in the hands of individuals or independent dealers.
VMR values older vehicles in three conditions and assigns a current market value to each. Use the guidelines below for determining condition, keeping in mind that any one car may not fit neatly into these categories.
Fair: A vehicle that runs and drives but needs mechanical work to make it safe, reliable transportation. Cosmetically, the vehicle shows numerous signs of wear and tear, but is not to the point of needing major bodywork or structural repair.
Clean: Vehicle is ready for the road, but shows normal wear and tear for age. Again, no major bodywork or structural repair is needed.
Excellent: A very well kept older vehicle, often with low mileage for the year. Needs no mechanical work. Shows well, with little or no cosmetic needs. Appears to be far newer than it actually is.