How Can I Tell How Much My Car Is Worth?

Several websites offer appraisal guides to help you determine your vehicle's value, whether you plan to sell it privately or trade it in toward another vehicle purchase. Other factors may affect your vehicle's value, such as market conditions, buyer interest, availability or necessary repair costs. Use any resources available to you to ultimately determine your vehicle's value.

Online Resources

Edmunds.com and the Kelley Blue Book website provide appraisal guides for trade-in and private sale values. The NADA Guides website, which also provides values for dealerships, offers an appraisal guide for trade-in values. The websites are guides only and do not necessarily offer a definite price for your car. Use the values from all three sites to determine a fair value for your vehicle; each website offers a different price. The websites also allow you to choose the condition of your vehicle, so choose the one that most accurately reflects your car's condition for more accurate pricing.

Check the Classifieds

Although the appraisal websites take your location into consideration, you can further determine the value of your car by searching the local classifieds to see how other sellers have priced their vehicles. Use your local paper, or websites, such as AutoTrader.com, the AllofCraigs website or the eBay Motors website. Be careful not to use dealer sales prices, as retail prices are higher than private sale values. Ensure that the vehicles you research have the same engine, transmission and features as your car.

Situations that Affect Value

If you were able to find results for similar vehicles in your area, you may have noticed that actual sales prices were higher or lower than results from appraisal guides. If gas prices become a concern for consumers, you may not sell your car for its suggested value because of lack of consumer interest. Or, if you have a rear-wheel drive sports car, you may benefit from waiting until the spring or summer to sell it, rather than the beginning of fall if you live in an area with snow.

Dealer Appraisals

If you plan to trade your vehicle toward another purchase, your vehicle's actual value relies on the dealer's appraisal price. The dealer's offer should be close to the values you obtained on your own. If the dealer's offer is lower, find out why. If your dealer finds that your car needs new tires, repairs or body work, it must decrease the costs from its appraisal value. If your car is in good condition and is likely to sell quickly, the dealer may offer you a higher value.