How to Find The Value of Your Car in 2 Minutes or Less
How to Find The Value of Your Car in 2 Minutes or Less
Posted on September 13, 2023
Many of us give little thought to the value of our old car when trading in. We’re so caught up in the new car buying experience that we don’t often care about what we’re getting for our old one.
It’s different when you sell your car to a dealership. You’re selling and not buying. Undertaking a single transaction instead of two.
But how can you find the value of your car when you sell it? That’s what today’s post is about.
How to Find the Value of Your Car
The age-old question still has an age-old answer. Something is only worth what someone else is willing to pay for it. This still underpins modern economics, where that something is market forces, i.e., you and I.
When you’re dealing with something as fluid as car prices, you need up-to-date information to assess whether what you’re being offered for your old car is fair, or not.
So how can you do that?
Be Honest About it's Condition
Before you go about valuing your car, you need to be honest about its condition. We have a tendency to view our own car through rose-tinted glasses, or at least, see better condition than it actually is.
Take a good look at your car and view it as dispassionately as possible. Be as honest to yourself as you can be about the condition of your car and whether it’s in good condition for its age, or not.
Researching the Value of Your Car
The easiest way to find out a car’s value is by using research. We tend to recommend looking where someone buying a car would look. That means Auto Trader, eBay, Craigslist, and other online marketplaces.
Then check Carfax and Kelley Blue Book as they are both used within the industry to assess the values of used cars.
Make sure to check like for like for the most accurate assessment. That means checking exactly the same make, model, trim, and year. If you can find cars with similar mileage, even better.
Use these values as a guide. You’ll probably find there is a wide range of prices. We tend to recommend taking a value from the middle of the pack and working with that.
Selling Your Car to a Dealership
When you bring your car in for an appraisal, we check it from the viewpoint of a future buyer. This is why we recommend looking at your car as dispassionately as possible, as that’s what we, and any future buyer, will do.
We assess its bodywork, interior, mileage, service history, and driving experience to come up with a value. We’ll check it for mechanical defects and perform a quick test drive to make sure everything works.
Then we’ll come up with a value and make you an offer for your car.
Use your previous research to assess whether that offer is a fair one or not. Use what you have researched and learned about the value of your car from those marketplaces and from Carfax and Kelley Blue Book.
We’re sure you’ll find our offer fair as we have a reputation for dealing fairly with every customer!
For any questions, concerns, or inquiries. Please don’t hesitate to contact us here!
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