Research Prices In Your Local Market
When selling a house, a good real estate agent estimates its value by looking at comps, or comparable properties. You should follow the same general practice when determining your cars resale value.
Go to the online used car listing site Autotrader and enter your cars information, as if you were searching to buy your own car. When you see the results, find cars that closely match yours. Pay attention not only to the asking prices what the seller would like to be paid but also to how many similar cars are for sale.
Its also worth doing searches for cars similar to yours on both Craigslist, which is localized, and eBay Motors, which can reach buyers across the country.
Car Value Estimators And Pricing Guide
Determining a used cars value is becoming ever easier, with lots of online tools, but some vehicles require more in-depth research as the market fluctuates quite a lot, says Bryon Dorr, editor-in-chief at Autowise, an online car blog.
The best way to find your cars value is to use an online estimator tool. These free resources allow you to plug in some basic information about your vehicle and get an instant value estimate. Here are some of the most popular sites:
About Kelley Blue Book Values
For over 90 years, Kelley Blue Book has been The Trusted Resource for used car values, helping car owners understand what their used car is worth. Depending on the method of disposal, there actually may be more than one Blue Book Value for the consumer’s car, truck or SUV. The Kelley Blue Book Trade In Range shows what a consumer can expect to receive for their car this week when trading it in at a dealer. The Kelley Blue Book Private Party Value reports on a fair price when selling the car to an individual instead of doing a dealer trade in. Our Values are the results of massive amounts of data, including actual sales transactions and auction prices, which are then analyzed and adjusted to account for seasonality and market trends. Kelley Blue Book Values reflect local conditions in over 100 different geographic regions and are updated weekly to give consumers the most up-to-date used car pricing information.
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What Can Affect A Car’s Valuewhen You Think About What Might Affect The Value Of Your Car You Might Say The Year The Car Was Made Or How Many Miles Its Done In Actual Fact Your Cars Value Can Be Affected By Lots Of Different Things Both Good And Bad This Can Mean A Difference Of Thousands Of Pounds To The Final Sale Price So Its Good To Get An Idea Of Where Your Car Might Rank
Things that can increase a car’s value
- No damage – Probably one of the most obvious factors to consider is how much damage the car has. A car in excellent condition with minimal to no damage or markings can fetch a top price.
- Complete service history– A full service history record for the car can increase its value as potential buyers can see that the car has been regularly serviced and taken care of.
- The car’s colour – Some colours are more desirable than others to prospective buyers. So a car with a sought-after colour will sell for more than a car with a less desirable colour. Because different colours are popular on different models, it probably isnt worth splashing out on a respray.
- Additional features – Cars that have extra features such as a built-in sat nav, dash cam, rear-parking camera or a multimedia system can fetch a much higher selling price.
- How the car is sold – How and where a car is sold can affect its value. Selling your car through Confused.com means youll get a quick and easy sale with minimal fuss and possibly get a better deal than through a private sale.
Things that can reduce a car’s value
Find Out What Your Car Is Worth
Enter your vehicle information above to get started. It’s super quick, like 30 seconds.
Our database compares your vehicle to similar vehicles locally & gives you an instant value report.
If you choose to sell, we will make an instant cash offer online, where you can redeem right away at our buying centre.
You are paid cash the same day! Or you can apply your cash towards a new or pre-owned vehicle and get a tax credit!
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Q: Trust: Why Should I Value My Car With Parkers
A: Parkers has been valuing cars since 1972, originally with its famous Used Car Price Guide, and now exclusively online. We work with leading valuations and automotive experts Cap HPI, and monitor around 1,500,000 used car sales every year , and our number one aim is to help you get the fairest possible price for your car, by reflecting all of those transactions. With all that behind us, we’re confident we can answer your question: ‘what is my car worth?’
Q: What’s My Car Worth How Accurate Is Your Valuation
A: The standard free valuation is based on average mileage and standard equipment for that model. The free valuations are available for most cars made from 2001/51 plate onwards based on average mileage and standard specification. These can be used as a guide to buy, sell or trade-in. Valuations are for UK spec cars only – sorry we don’t value any imports.
However, if you want the exact spec of the car you want reflected in the valuation , you can get that from one of our premium paid-for valuations.
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What Can Increase Your Car’s Value
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Excellent condition
The better condition your car is in the more it may be worth. If your car has zero cosmetic damage and a tidy interior it will likely lean towards a higher price point.
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Great service history
Usually, buyers want to buy a well-maintained car that has a complete service record and not too many previous owners. Being able to prove your service history can go a long way when it comes to price.
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Extra features
Everyone likes something a little extra. If your car is loaded with optional extras then assume you may get a little more for it. When selling note anything like roof racks, rear-facing camera, new sound system or other media modifications.
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Popular colour
When it comes to appearance some colours can be worth more than others. Having a sporty red or jet black car could pull in a few extra dollars when selling.
How Can I Find Out My Cars Worth Using This Tool
Its simple and takes only a few seconds. Just fill in your cars details like Brand, Model, Variant, Year of registration, etc, and click on the Check Valuation button. And thats it – the Used Car Valuation tool will work its magic in the background to come up with the right price range of your car or a used car that you wish to buy
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National Automobile Dealers Association
Like KBB and Edmunds, NADA allows you to find your vehicles value, but it uses slightly different criteria. NADA focuses on the vehicles wholesale price, current market price, and the demand for cars in your area. NADAs car value appraisals tend to be higher than what KBB or Edmunds will calculate, which is something to keep in mind. NADA also offers a variety of vehicle comparison tools, but it doesnt have a used car marketplace.
Coming Clean On Condition Levels
Our tool will ask you to pick from five condition levels: outstanding, clean, average, rough and damaged. Most people will choose one of three: clean, average or rough.
You might be tempted to choose “outstanding” to get more money for your used auto. After all, you’ve pampered your car the entire time you’ve owned it, right? But the truth is that few cars qualify for this rating.
“Outstanding” is reserved for older, low-mileage vehicles in cases where well-preserved examples are hard to find, says Richard Arca, senior manager of pricing for Edmunds.
Edmunds True Market Value used car prices are all set at “clean” condition, Arca says. The price of a car in a less-than-clean state is adjusted downward from there, and it reflects what it would cost to bring the vehicle up to a clean state.
If your vehicle was in an accident, it could still be considered “clean” if it was repaired with factory parts and according to the manufacturer’s specifications, Arca says.
“In reality, cars that have been in accidents tend to lose market value, but there is really no way to gauge how much,” Arca says. He adds that some of the factors that affect the value are the severity of the damage, the quality of the repair, and the demand for that particular model.
Be honest and objective about the state of your used vehicle. Try to see things from a potential buyer’s perspective.
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How To Compare Car Prices In Your Area
After getting a few car value estimates, its a good idea to compare your cars appraisal to what the vehicle is being sold for in your area.
Look at popular used car marketplaces like Craigslist, eBay Motors, Facebook Marketplace, and Autotrader that advertise local used vehicles for sale. Start by searching for your cars specific make and model, with a similar model year and mileage. It doesnt need to be an exact match.
This should give you a good idea of what your car is actually worth. For example, if KBB estimates your cars value at $10,000 but used models in your area are going for less than $7,000, its a good indicator of what your car will really be worth when you sell it.
Q: When I Value My Car What Is Included In The Report
A: When you get a free valuation from Parkers, you get two ranges of values based on a standard mileage and equipment tally. You are presented with the private value, which is the typical price youll pay for a car in a private sale. What you can reasonably expect is a car with some- or full-service history, few or no mechanical issues, decent bodywork and a reasonable amount of MoT left on it. You also get an expected dealer price, for which you can expect a car with a warranty, and for it to have no major mechanical, bodywork or paint issues.
You can more accurately adjust our car valuations to reflect higher or lower mileages, and any optional extras added to the spec of your car that increase the value, simply by choosing a Parkers premium valuation, which costs from just £4.99.
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Dont Be A Victim Of Depreciation
The downside of car ownership is that you own an asset that loses 20% to 30% of its value by the end of the first year. From years two to six, depreciation ranges from 15% to 18% per year, according to the Black Book pricing guide, which tracks used-car values. Bottom line, in five years, cars lose 60% or more of the sale price.
But not all vehicles depreciate equally. This means that some makes or models hold their value better than others. Tracking the value of your car allows you to keep an eye on depreciation so you can time the sale or trade-in to minimize the impact of depreciation. You can also see the effect of other market factors, such as the price of gas, which makes the value of large SUVs or pickup trucks plummet.
Heres a graph that will help you conceptualize the depreciation curve for cars by highlighting the difference among four different vehicles:
What Can Decrease Your Car’s Value
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Poor condition
The older a car the more wear and tear you may find. Usually, small stains or scratches on the paint will leave you a few dollars lower than if your car was in excellent condition. However, anything more than common wear and tear and youll be looking at a lower price point.
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Unknown service history
The valuation given will assume that your car has been well taken care of. If you havent had your car serviced or cant prove you have done this then the value of your car could be lower then estimated.
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Known issues or repairs required
Cambelt needs replacing or a window wont roll down? Issues like these could bring down the value of your car. Always be upfront about problems like these when selling.
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Many previous owners
If your car has been through a lot of hands, this could impact the value of your car. Most buyers want to know about past owners and have a good understanding of how they treated the vehicle.
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How Does The Used Car Valuation Calculator Help Sellers And Buyers
The Used Car Valuation tool helps sellers get a fair price for their cars. Since the Used Car Valuation calculator factors in various criteria affecting a cars value, it is more exhaustive and suggests the best value your car can fetch compared to researching on a personal level. For buyers, it creates a transparent sales process. It gives buyers a fair price window which they should expect to shell out, thus preventing them from being overcharged. Moreover, if the used car is being purchased through a loan, the tool can be useful for banks and NBFCs to get a fair pricing. It also helps insurers in determining motor insurance premiums.
Instant Cash Offer Program
If youre unsure about how to research and price your used car, or if youd rather get rid of a used vehicle as quickly as possible in exchange for something newer, then the an instant cash offer program is a novel solution that may be ideal. Simply submit the details of your vehicle online, and youll receive a cash offer based on its age and condition.
After entering all appropriate data, the ICO system provides a cash offer certificate, which you can show to a participating dealership to make selling your used car quick and easy with minimal second-guessing on the right amount. Theres no need to haggle with strangers, and youll save time. Best of all, you can use the autoTRADER.ca ICO program to sell your car, even if you dont want to buy another one.
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Q: Does Parkers Still Publish The Monthly Car Price Guide Or Parkers Plus
A: Parkers Plus finished in 2001 and after 47 very successful years of supplying the UK motoring consumer used pricing, the main printed price guide finally closed with the last issue in January 2020. All Parkers data is now online only. You can purchase a month’s subscription to all our pricing data with unlimited valuations for only £9.99.
Using A Valuation Tool
An online valuation tool can help you more easily determine what to ask for your used car. For example, autoTRADER.ca lets you check Whats my Car Worth? you can look up the estimated value of a trade-in or private sale using the same parameters as above: year, make, model, trim, mileage, area, and condition.
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How Does An Accident Affect A Cars Value
The average impact on retail price is just under $500 for a vehicle that has been in an accident, but that impact jumps to an average of $2,100 for a vehicle thats sustained severe damage. Only Carfax gives you a VIN-specific price for every used car based on its complete history. Instead of providing you with only a suggested retail value, Carfax can tell you what a specific vehicle with a specific VIN is worth based on its history as reported to Carfax. See Comparison Chart.
How Much Is My Car Worth Get Answers Now
All you have to do is use this handy tool to enter all of the information about your current vehicle and we’ll take care of this rest. This free tool, provided to all of our customers from KBB and Ford Lincoln of Cookeville, will tell you everything you need to know about the true value of your vehicle as it exists today. You’ll even get to see your instant cash offer, letting you know exactly how much money you would get if you drove it onto the lot this afternoon.
That’s it – you’re just a few quick mouse clicks away from the numbers you need when you need them the most.
The best part of all isn’t just that the tool is fast, accurate and easy-to-use – you are also under absolutely NO obligation to sell, trade-in your car or buy anything new. This free tool is simply an informational resource, making sure that you have all of the answers you need to make the right decisions for the right time.
You can easily use this number to sell your car to the dealership for cash, or use the value to trade-in for a new or used car. It really doesn’t get much more straightforward than that.
Ford Lincoln of Cookeville
Located right in the heart of Cookeville at 1600 Interstate Drive, we’re dedicated to one thing above all else: meeting your needs and exceeding your expectations each and every time we’re given the opportunity to do so.
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