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November 11, 2013

Determining the Value of Your Used Car

When looking to sell your used car, it is vital to know the full value. With this, a seller can get top-dollar for his or her vehicle. Now, some people let the car dealer dictate this and the consumer loses out on hundreds, or thousands, of dollars. For this reason, it is pertinent to determine the value of an automobile by following this simple guide.

Condition: To get started, a vehicle owner should park his or her vehicle in a wide-open space. Then, the owner can inspect the interior and exterior of the car to the fullest. When looking at this, one should pay special attention to the paint job and look for any dents. When looking on the inside, a person should inspect the seats and look for any tears or discolorations. Finally, a car owner should open the hood and look at the engine and make sure that there are no serious issues. With this, an owner will know the condition of the car. Remember, while some car owners want to more value out of their investment, it is helpful to be honest with the assessment as one will determine the true value and not their desire.

Guides: By peeking at online guides, a seller can get the rough value of his or her car. To do this, a consumer can visit the websites of Kelly blue book and Edmunds. With these tools, a car owner can enter his or her vehicle information and provide the condition and mileage. Then, the online guides will give the car owner an estimate of the value. One must remember that Kelly blue book usually offers generous estimates while Edmunds gives a low-end estimate in most cases. Either way, with this information, a seller can have an easier time understand the value of his or her car.

Actual sales: Now, while guides offer a rough idea on the value of a vehicle, they are not always accurate for real-world situations. This is especially true when looking on a local level. For example, a truck with four wheel drive may get more attention, and thus a higher price, in a mountain town or area with a lot of snow. On the other hand, the owner of a small Japanese car will enjoy a higher value if he or she lives in an area where people commute long distances and value high gas mileage. With this in mind, a consumer should search local classifieds websites and look at the cars for sale. When taking the time to research real sales and listings, one will have a better idea on the value of their automobile.

With this three simple steps, a car owner can research and discover the value of his or her vehicle. While it is not an exact science, by knowing the condition and sales in the area, one will have an excellent baseline figure when they want to know the value and get the most out of the transaction.

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