How Can You Estimate the Value of your Used Car?

If you’re looking to buy a new car, moving to an area where you no longer need a car or if you want to get rid of your car in exchange for some extra cash, you can sell your car used. One of the things that many people worry about when they’re planning to sell their used car is not knowing how much to ask for the vehicle.

Estimating the Value of a Used Car

When you’re selling your used car, it’s important to know its value. This way you can ensure that you’re not ripping yourself off and that you’re getting the right amount of money for your used car.

Family inside Prudent Value Car

Here are a few tips for estimating the value of a used car.

Use Resources Online

There are resources online that you can use to help you estimate the value of your car. Two reputable websites are Kelly Blue Book and Edmunds. These two sites are slightly different from one another, but they offer the same basic service. You visit the site, enter in some information about your vehicle (year, make, model, mileage, options, condition, etc.) and the website will provide you with an evaluation of the vehicle.  You can use this evaluation to price your car when you’re selling it.

Compare with Other Vehicles

You can come up with an estimate for the value of your car on your own with a little work. Check various resources in your area to find comparable used vehicles for sale.

Try looking in newspapers, magazines and online for private sales of used cars that are the same age, make and model as your own. The more comparisons you can find, the better. You’ll then want to take an average of all of the selling prices of these cars. This will help you come up with an estimate for the value of your own used car.

Talk to a Dealer

Many car dealerships will give you a trade-in value for your car. This is the amount that they would give you to put towards the purchase of a new vehicle from them if you traded in your used car. While this price will probably be different from the amount that you could get if you were to sell the vehicle privately, it will still give you a good idea of what you should expect.

In general, you can probably get between $1000 and $1200 more by selling your car privately than if you were to trade in your car to a dealer. Keep this in mind and price your car accordingly.

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