Car value refers to the market worth of a new or used vehicle. The value of a new car typically declines immediately following purchase. The value will then continue to decline annually based on several factors. This decline is known as depreciation. When a new vehicle goes on sale, car dealerships are required to include a window sticker (also known as a “Monroney”) which provides information about the car’s standard equipment, options, fuel economy, and crashworthiness, as well as the manufacturer’s suggested retail price (MSRP).
Used vehicles do not have an MSRP because the vehicle’s value changes once sold. You can locate the vehicle’s original price by contacting the original dealership or researching it online. Kelley Blue Book has offered information regarding used-car values to consumers since 1926. This guide provides estimates of the value for practically any used vehicle.
