The used car market is booming currently. More used cars are selling faster than ever and for a higher price than normal.
So if you’re thinking of selling your car, now’s the time to do it.
But how do you know what the value of a car is?
There are many tools, calculators and more you can use to help you figure out what your car is worth so you get the best price for it. That’s why we’ve put together our quick guide on how to find the value of a car.
Information Needed to Learn the Value of a Car
Before you even get to the tools you can use, you’ll need to have certain information about your car available. This is so you can get the most accurate valuation of your car, so you won’t be left disappointed.
First up, you’ll need the make and model of your car, as well as the year. You may also need to know the color and specific trim of your car. Don’t worry if you’re not sure, you can find all this information in your owner’s manual.
You’ll also need to know the mileage of your car. This has a huge impact on the value of a car. In general, the higher the mileage of your vehicle, the less it’s worth.
The condition of your car is of equal importance and this affects the valuation. Don’t think you can get around it by saying your car is in better condition than it is as the buyer will find out either way! The best rule is to be honest about the condition of your vehicle for a realistic price.
If you have any specific features or equipment, you’ll also need to know these, so it’s a good idea to make a list of any added features. This could include things like leather upholstery, custom rims, or non-manufacturer sound systems.
Car Valuation Estimators
There are no more guessing games when it comes to the value of a car thanks to online estimator tools.
The most popular car valuation estimator is Kelley Blue Book or KBB. All you need to do is enter details about your car and this tool creates a valuation in moments. As the information you enter is minimal, you’ll only get a ballpark figure from KBB estimations.
Edmunds is another great car valuation tool. This estimator collects a little more information about your vehicle, so it’s a bit more time-consuming. But because of this, it comes back with a more accurate valuation than KBB.
If you know you’re junking your car as opposed to putting it onto the used car market, you’re better off using a specific junk car estimator like this value calculator to get an accurate price.
More Automotive Advice
Discovering the value of a car is easy thanks to modern-day technology. Provided you have the right information about your vehicle, you can use online car valuation tools to give you an instant and accurate price. This can help you know what to list your car for or what price to haggle for if you’re selling it to a dealership.
We have lots more helpful automotive advice about selling and buying cars on our blog.