Factors that influence the appraisal of a truck include the vehicle's mechanical and physical condition, the vehicle’s depreciation rate and the demand for the vehicle in a geographic area. Climate, vehicle color, options and upgrades are other factors that influence a truck's appraisal value. A traditional dealership frequently bases an appraisal on the fact that an owner is trading in a truck to purchase another vehicle.Continue Reading
A truck's condition is a significant factor in estimating its value. The highest classification of a classic truck's condition is Class 1, or excellent condition. Class 1 means a truck has all of its parts in original condition as new, or that the owner has completely restored the truck as new.
Depreciation rates vary among truck brands and models, and the differences can be significant over time. A new vehicle can depreciate up to 50 percent in the first three years after the initial purchase. Vehicle popularity in a particular region of the country influences a truck's value. There is typically more demand in Dallas, Texas for a used pickup truck than in Miami, Florida, where convertibles depreciate less than pickups.
An all-wheel or four-wheel drive truck has a greater value in northern, cold-weather regions, and in winter rather than summer. Traditional colors typically register higher values than fad-driven hues. Automatic transmissions and leather seats are among the features that provide a long-term boost to a truck's resale value.Learn more about Buying & Selling