The book value of a truck is influenced by the vehicle's condition and mileage. Major features, such as transmission, included options, geographical location and market supply and demand are also factors. The vehicle's condition is the most determining factor, according to Classic Truck Shop.Continue Reading
For maximum valuation, the vehicle's overall condition should be excellent. Condition includes the exterior, interior and mechanics, explains NADA Guides. The vehicle's exterior should be free of rust, scratches, dents and other damage. The quality of the paint's appearance also is a factor. The interior should similarly be free of any signs of damage, such as stains. All mechanical components should be fully functional, and the vehicle should pass state smog or other inspection requirements.
The resale value of the vehicle is affected by major features, such as the transmission type, type of engine and presence of all-wheel drive, explains Edmunds. Other significant factors in the valuation of a vehicle are its options, such as leather seats, a sunroof or automatic climate control, notes NADA Guides.
Resale book value increases with additional optional equipment installed by the manufacturer, according to Edmunds. Book value decreases as mileage increases, since more miles driven means the vehicle is nearer to its end of useful life.Learn more about Buying & Selling