A digital instrument designed to estimate the price of a used car from a particular producer, earlier than it’s exchanged for credit score towards the acquisition of a more moderen one. This utility usually components within the car’s situation, mileage, options, and present market demand to offer an approximate financial determine. As an example, a potential purchaser could use this on-line utility to gauge what credit score they may obtain for his or her current sedan when contemplating a brand new SUV from the identical automotive firm.
The utility’s significance stems from its capability to empower customers with data throughout the buying course of. By offering an preliminary valuation benchmark, it facilitates a extra clear negotiation with dealerships and reduces the potential for info asymmetry. Traditionally, establishing a car’s price required visiting a number of dealerships for value determinations, a time-consuming course of. These digital devices provide a handy and readily accessible different.