How to determine the value of a car
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Knowing the value and value of your car is very important, especially if you ever need to sell your car. Kelley Blue Book is a good way to do this.
When it's time to sell your car, you'll want to know exactly how much it's worth. Knowing the value of your car not only gives you expectations, but it also gives you some negotiating leverage because you know the market value of your car.
If you calculate the value of your car correctly, you can be patient and wait for a good deal, instead of taking the first offer that comes along and losing thousands of dollars.
Even if you don't intend to sell your car, it's good to know how much it costs. Your car is an asset and it's always smart to be aware of its value. If you have an emergency and need money, you know exactly how much money you will receive if you sell your assets.
While the market for every vehicle is constantly changing, there are several tools you can use to determine the approximate value of your vehicle at any given moment.
Method 1 of 3: Use Kelley Blue Book or a similar service.
Step 1. Visit the Kelley Blue Book website.. Kelley Blue Book is the premier online resource for car valuation.
To get started with Kelley Blue Book, visit their website, then click Price of new/used cars button to find out how much your car is worth.
- Functions: While Kelley Blue Book is commonly cited as the best online vehicle rating system, there are other websites you can use if you'd rather try something different. Just do an online search for vehicle appraisal websites to find other websites similar to Kelley Blue Book.
Step 2: Enter all information about your car. On the Kelley Blue Book website, you will need to provide detailed vehicle information such as basic vehicle information (year, make and model), your zip code, your vehicle options, and the vehicle's current condition.
- AttentionA: You will have to answer every question if you want to get an estimate for your car.
Always answer Kelley Blue Book questions honestly. Remember that Kelley Blue Book is not going to buy your car; they only offer an estimate.
Lying about the current state of your machine won't really help you; this may give you a better estimate online, but the buyer may not pay the same amount for your car once they see it in person.
Step 3. Choose a scoring method. Choose between the "Trade In" value and the "Private Party" value.
Trade value is how much money you can expect from a dealer if you trade your car when buying a new one.
The cost of a private party is an estimate of the price you would get from selling your car privately.
Choose an estimate that matches what you plan to do with the car to get an accurate estimate.
Method 2 of 3: Contact dealerships
Step 1. Contact local dealers. You can get an idea of the value of your car by contacting local dealers and asking them for prices.
Even if the dealer doesn't have your particular model in stock, they usually have access to a huge database of cars, so they can see how much a model that's almost identical to yours is selling for.
- FunctionsA: You can also ask the dealer to estimate how much they would be willing to pay you if you sold your car.
Step 2: Consider Dealer Quotes Appropriately. Dealers can sell cars for more than private sellers because they offer warranties and maintenance.
- AttentionA: If you are using a dealer valuation to determine the value of your car, be aware that you may not actually be able to sell the car for as much as the dealer quotes.
Method 3 of 3: Research similar cars.
Step 1: Perform an online search. Check various websites to see what price cars sell for. Craigslist auto and eBay Motors' completed listings section are resources that have a seemingly endless supply of cars to check out.
Step 2: Find similar vehicles on Craigslist or eBay Motors.. Find a large number of cars almost identical to yours and see how much they sell for. This not only tells you what the car's valuation is, but what people are actually willing to pay for right now.
Step 3: Determine the value of the car. Once you've figured out the value of your car, you're almost ready to sell it if you decide to go down that route.
It is important that your car always performs perfectly when you sell it, so that you can be sure of the maximum price. To make sure your car is running properly, have a certified mechanic like AvtoTachki perform an inspection and safety check before putting your car on the market.
