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What is the value of a used car based on?

J

jtvang125

Diamond Member
The insurance deteremined a total loss on a coworker's car. She wants to know how much her car is worth so she can have a better understanding when the insurance settles the claim. I'm thinking it's either based on the trade-in value or the private party value? There's about 1-2 thousand difference between the two.
 
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