Step 1 :The dollar value $v(t)$ of a certain car model that is $t$ years old is given by the following exponential function: \[v(t)=18,500(0.92)^{t}\]
Step 2 :The initial value of the car is when $t=0$. We can substitute $t=0$ into the function to find the initial value: \[v(0)=18,500(0.92)^{0} = 18500\]
Step 3 :The value of the car after 13 years is found by substituting $t=13$ into the function: \[v(13)=18,500(0.92)^{13} = 6258\]
Step 4 :Final Answer: The initial value of the car is \(\boxed{18500}\) and the value after 13 years is \(\boxed{6258}\).