Advanced technologies and new car models are seen in the market more often than before making car buyers like me wondering how much is my car worth and whether or not it makes sense to trade it in as part of the initial stage in getting a new car. Considering selling or trading in my car for a new one, finding out how much my car is worth is crucial and an important step in the negotiation process. For most cases, general cars are probably depreciating in value and certain models depreciate faster than the others. In the process of selling my car it is important to get an accurate valuation which is condition adjusted for my specific model.
I got a rough price and pricing guide from local newspapers, automobile magazines and the internet for a list of my exact make and model and it shows me how much is my car worth in poor and average condition and how much it could be worth in excellent condition.
To know how much is my car worth, it is best to look for a car that is similar to yours in terms of the manufacturing and registration date, car make and model. This has assisted me to have a better idea of what value I can expect for my car. There is also a difference in the car value between selling your car to a used car dealer and a direct buyer. I would expect a higher value from a direct buyer as compare to trading in my car to a car dealer based on the fact that car dealers act as the middle source to buy the car from me and to resell back to end users. It is advisable to spare some time to maintain your car in its best condition and fix it wherever seems necessary if you intend to sell to direct buyer at a higher value.
Naturally, everybody wants to get the highest possible price when they sell off their car or when they ask themselves how much is my car worth.
But if I demand too much in my advert, nobody is going to respond and give me any feedback. If I ask for too little, I will be cheating myself. Another method that I find worth exploring is to research used car prices to find out how much is my car worth. The prices can be obtained from classifieds in newspapers or by visiting car shows or speak with other car salesman as well as used car dealers or even end user to find out how much they paid for a similar car and how much they have sold their own cars for in the past. Once you have an idea of the price range, you can be confident that the price you have in mind to sell would be your guideline and limit to negotiate further with the buyer. The value of my car will increase and decrease depending on the economic situation and the number of productions for my specific car make. In my opinion, how much is my car worth depends very much on the other buyer who is willing to pay. Everybody would want a fair price but this is a process that needs patience.
Whether you are trading in your car, selling it off or to determine how much to insure your car for each year, you need to know how much your car is worth in the market. You stand to lose if you underestimate the used car values of your car when selling or trading it in. You will also end up paying more premiums if you overestimate your car’s worth when buying insurance or worse, you will get less reimbursements if you underestimate your used car values. Therefore, it is important to ascertain the used car values correctly. There are several easy ways to do so without even leaving the house.
Before you start your research, there are several details of your vehicle that you need to take note of. The most important is of course the model and make, the year of the make, mileage, service history, engine size, vehicle trim, transmission and if it has ever been involved in an accident. With those details in hand, you can then embark on your research.
1. Check your local paper’s classifieds for current market used car values
Each day, there are numerous listings of vehicles for sale. Look for similar models as yours and note how much they are selling the car for. Of course, you won’t be able to get the exact same features as yours but choose one with the closest details on year, transmission and engine size.
2. Search on online car directories
There are various websites that deal with the selling and buying in vehicles. This is probably a better bet than the newspaper classifieds as there is bound to be a wider selection of vehicles here. Here, go to the section where the owners themselves advertise the vehicle for sale. If you gauge through the selling price, these would have been marked up a little already but you should be able to roughly estimate the real used car values.
3. Visit Kelly Blue Book’s site to check used car values
If you are in the US, check out Kelly Blue Book, it is the US’ largest vehicle valuation company and is the place to go to get the prices of used and new vehicles. At their website of www.kbb.com, type in your make, year and model and you will get a good idea of how much your vehicle is worth in the market.
4. Visit the local car dealer
For this, you need to get out of the house for sure but this would be the best way to get your vehicle properly evaluated. The dealer will take a look at your vehicle up close and be able to give you a price based on the condition of the body as well as the engine.
Make sure you do your homework by checking the used car values before selling off your car or purchasing insurance for the new year. You don’t want to be ripped off, don’t you?