You know how much you paid for your car when you bought it, but how much is it worth now? This can be difficult to determine, especially when you know very little about the used car market.
One of the best ways to find out the worth of your car is to use a valuation guide. We’ll give you some examples shortly. Another option is to check out live prices online or at a dealership.
If you ever want to sell your car, you must know its value before you start any kind of transaction, trade your car in, buy, or refinance a vehicle.
What is the Most Popular Car Valuing Site?
One of the best ways to find out the value of your car is to use an online car price guide or valuing site. You simply plug in your car’s information and where it’s located. You’ll get back a range of what your car is worth, usually within a few seconds.
There are several options when it comes to online car price guides. The most popular are as follows:
- NADAguides: NADA stands for the National Automobile Dealers Association. This organization represents franchised dealers. It gives you access to its retail valuation guide.
- Edmunds: This is one of the newer price guides. Try out Edmunds “True Market Value” tool and you’ll find out whether you’ve priced your car right.
- Kelley Blue Book: This online guide is named after the blue books it once published. It’s also the oldest car value guide.
- CarMax: CarMax is a used vehicle retailer based in the US. Not only does it sell cars, but it also buys cars as well. If you want to know how much your car is worth before you sell it, there is an instant online offer tool that will give you a real offer in just a few minutes. Alternatively, there is the option of taking your car to CarMax for an in-store appraisal.
- Carvana: Carvana is also an online used car retailer based in Tempe, Arizona. It is also one of the fastest-growing online used car dealers and is well-known for its multi-story car vending machines. You can find out the value of your car by providing some information. Then, the company will either email an appraisal estimate to you or give it to you on the spot.
How to Find Out What My Car is Worth
Your car is only ever going to be worth how much a person is willing to pay for it. However, it is nice to know how much you might expect to get for it. Use any of the price guides mentioned above and you’ll need to understand the different types of value.
If you’re selling your car, the following apply:
- Trade-in value: This is the price you can expect a dealer to pay for your car. Typically, it will be a lower value than if you chose to sell your car to a private individual.
- Private seller value: If you want to sell your car yourself, via a site such as Craigslist, you can expect to get a couple of thousand more dollars than if you sold your car to a dealer as a trade-in.
If you’re buying a car, the following apply:
- Private party value: This is the price you will pay if you buy a car directly from the owner. With no middleman to bump up the price, you should get a good deal. However, remember to closely inspect the car before you buy it.
- Dealer retail value: This is the price you typically see on a car’s window at a dealership.
- Certified pre-owned (CPO) value: A CPO vehicle is still within warranty and has passed a strict inspection. The price tag is usually higher than a regular used car, however, it will come with a longer warranty and the manufacturer’s stamp of approval.
What is my Car Worth NADA?
When you visit the NADA website to find out the worth of your car, it redirects you to another car price guide, JD Power. There is a tool you can use to find out the value of a car, motorcycle, boat, and RV. Get new and used prices by taking the following steps:
- Input the make of your car
- Choose the year from a drop-down list
- Pick the model
- Select the vehicle trim
- Enter your zip code or check a box if your car is outside the US
- Enter the current mileage and select whether you want a price with standard equipment or options to include in the vehicle’s value
- Receive pricing and values for your car. You’ll be able to check the original MSRP and find out the lowest, average, and highest retail price you can expect for your car.
Edmunds, What is My Car Worth?
Visit the Edmunds website to find out what your car is worth and you’ll get instant used car value and trade-in value. The tool is free to use and you’ll get your results in less than a minute. You can choose to input the year, make, and model of your car, its VIN, or license plate. According to Edmunds, you get a more accurate appraisal if you enter the VIN or license plate.
As well as entering information about your car, you also have to input a zip code and the style of your car. Other information you have to provide includes the exterior and interior color of the car and what additional equipment comes with the car.
The next steps include providing the mileage of the car and its condition. You can choose whether its condition is average, damaged, rough, outstanding, or clean.
You’ll be faced with additional questions about the car’s condition, for example, whether it has been in an accident, whether the vehicle has any frame or flood damage, has been smoked in, and several more.
The final step in the appraisal process is to provide the license plate or VIN and the state where the car is registered.
Once all this information has been provided, you’ll be able to see your car’s value.
What is My Car Worth Carmax?
If you visit the CarMax website, you’ll be able to do some research about the value of your car. Simply check out similar models for sale on CarMax.com and you’ll get a good idea of prices. You can search by make, model, or keyword.
Alternatively, you can use the instant online offer tool that will give you a real offer in around two minutes. CarMax will need to know your license plate, where the vehicle is registered, and your zip code. You may have to bring your car to CarMax in person to make the final offer.
According to the company, a wide range of factors are considered when determining the value of a car. They include:
- Condition
- Mileage
- Accident history
- How well you’ve maintained the car inside and outside
Kelley Blue Book, What is My Car Worth?
The Kelley Blue Book – and its equally popular website – is one of the most trusted guides for automobile pricing. KBB has been around since 1926 and roughly 20 million unique visitors per month log on to the website.
Kelley assesses the following values: trade-in and private party value, suggested retail value and certified pre-owned (CPO) value. It determines values by analyzing pricing information from real-world used car prices. It also takes into consideration industry developments, economic conditions, and location.
You can ask KBB for a valuation using the VIN, make/model, or license plate. Additional information you need to provide will be the mileage, your zip code, and your email address.
Then you have to provide the following information, or check certain options:
- What equipment is on your vehicle
- What color is your vehicle
- trade-in/private party values vs. cash offer for your specific vehicle
- Condition of your vehicle – fair, good, very good, or excellent
A valuation for your car will follow shortly after.
What is My Car Worth Carvana?
Carvana allows you to trade in or sell your vehicle in just a few simple steps.
- Get your offer: Simply share a few details about your vehicle and you’ll receive a real offer in minutes. If you only want to know what your car is worth, you don’t need to take things any further.
- Trade in or sell: You have the option of trading in your old vehicle for a new one, or selling it to Carvana.
- Get paid: There will be a quick on-site review of your vehicle before you’re paid either with a check or the keys to your new ride.
Factors That Can Affect the Value of Your Car
Several things can affect the value of your car, both positively and negatively.
Things That Can Increase a Car’s Value
- Mileage: Your car’s odometer reading is one of the most significant factors in its value. If the reading is high in relation to the vehicle’s age, the value could take a hit.
- Condition and accident history: Other major contributors to a vehicle’s value are its past accident history and current condition. Minor damage such as scratches and dents can lower your car’s value. Broken tech, stained or torn seat fabric, and rust will also lower your vehicle’s value. Another factor that will make your car less desirable will be a lack of modern amenities such as air conditioning and power windows.
- Market conditions and fuel prices: The value of your vehicle is also influenced by market conditions, including supply and demand. Fuel prices also play a role in a used vehicle’s value. For example, when gas prices drop, demand for pickup trucks, SUVs, and other larger vehicles rises. This leads to an increase in values. When gas prices climb, fuel-efficient vehicles become more desirable and valuable.
- Reliability and brand appeal: Brand image, the popularity of a model, and reliability ranking can also move the needle on your used car’s value. A used car that has a reputation for solid reliability will typically hold more value than less reliable brands.
Things That Can Decrease a Car’s Value
- Neglected maintenance items: Worn brake pads, burnt-out headlights, and bald tires will all put a dent in your car’s value. If you try to keep on top of these items, it should improve the value of your car.
- Mechanical problems: Issues with the suspension, transmission, or engine will hurt your car’s value. If the check engine light is on when it comes time to sell, get it fixed before a potential buyer comes to look at your car.
- Dings, dents, and scratches: Problems with the bodywork, even relatively minor issues will lower the trade-in estimate. Any dealer looking to accept your car as a trade-in has to weigh up whether it’s worth fixing the cosmetic flaws before selling your car.
- Signs of smoking: You might not notice it but a non-smoker will immediately spot whether you’ve been smoking in your car. It’s not something that’s looked on favorably.
- Modifications: There are a few modifications you can make that will increase your car’s resale value, but by and large, people don’t want to purchase cars that have been modified.
What Are My Options if I Want to Sell My Car?
You likely want to know what your car is worth because you’re thinking of selling it. You have two options when it comes to selling your car: trade it in or sell it privately. There are pros and cons to both.
What is My Car Worth as a Trade In?
You’re likely going to get less money for your car if you trade it in. However, you don’t have to put in any time and effort trying to sell it privately.
What is My Car Worth to Sell Privately?
Generally speaking, selling your car privately will get you more money upfront. However, a downside to that is that you’ll pay more taxes on the full price of a new car you buy. You’ll also have to expend more time and energy, deal with strangers, and try to avoid the risk of a possible scam.
Things You Can Do to Increase Your Car’s Value
Maintaining the initial value of your car isn’t easy. It takes time, effort, and money, but it will pay off. Not only will it last longer, but it will also keep you and others around you safe, and reduce the impact of devaluation. But what can you do to defeat the depreciation monster? Here are some suggestions:
- Routine maintenance: How much you need to budget for depends on the car. You’ll need to spend less on a more reliable car. How much you drive your car will also impact maintenance costs.
- Maintain tires: Properly inflated tires help you maintain good gas mileage and even improve it by as much as 3%. Rotate, balance, and align your tires frequently to avoid unnecessary wear.
- Get new brakes: You should replace your brake pads every 25,000 miles. This will help increase your car’s value.
- Do some minor car repairs: There are plenty of DIY car repairs you can do to maintain the value of your car:
- Change the battery
- Change the oil
- Check spark plugs and replace them when necessary
- Change transmission oil, brake fluid, power steering fluid, and coolant
- Replace headlamps: Halogen or HID bulbs are far more efficient.
- Fix windshield chips and cracks: Driving with a cracked windshield could be illegal in the state where you live. It’s also dangerous for you and your passengers. A chipped or cracked windshield will also lose value on your car.
- Make your car shine with car detailing: Keep your car looking brand new and it will stay valuable for years to come.
- Document your car’s good condition: Keep your receipts every time you change the oil, check fluids, change brakes, or replace tires. Proof of work done will help you get the price you deserve when you sell your car.
- Pick safety features that add value: these include:
- Automatic emergency braking
- Forward collision warning systems
- Automatic high beams
- Rear cross-traffic warnings
- Bluetooth speakers for hands-free calling
- Clean your headlights: Your car will be more appealing if the headlights are clean, clear, and bright.
- Replace your floor mats: Quite often they will be washable, but if not, buy replacements before you sell your vehicle.
- Park your car inside: The elements can be pretty damaging to your car when it’s left outside. Park your car indoors or under cover whenever possible.
- Choose a car that’s typically got a high trade-in value to start with: The easiest way to keep your car’s value high is to buy a car that retains its value. According to Edmunds, JD Power, and Kelley Blue Book, Toyota is one of the best brands for resale and retained value.
If you’re ever in the market for a new car or need to get your car across the country because you want to sell it, keep USTrans in your contacts. We provide an auto transport service that won’t break the bank.
What is my used car worth?
The value of your used car depends on many things such as the make and model, year of manufacture, and condition. However, ultimately, it’s only ever going to be worth what someone else will pay for it.
What is my classic car worth?
Classic car values are determined by a multitude of factors, some of which are in the owner’s control while others are outside of their control. No single valuation or appraisal tool can definitively tell you how much your classic car is worth. You’ll get a good starting point by using multiple valuation sources.
What is my car worth by VIN?
You can visit any online car price guide and use your car’s VIN. The site’s value calculator will take into account the history of the car and deliver an accurate estimate of the true value of the car.
Where can I see what my car is worth?
The best way to determine what your car is worth is to use a valuation guide like Kelley Blue Book. There you can look at live prices online and at dealerships across the country.