3 Things To Know About Car Values When Selling A Used Vehicle

Upgrading from the car you currently have to one that is nicer and newer is an exciting event, but you may have some decisions to make before you go through with this. The main decision you will need to make is how to sell the car you currently own. For instance, you may wonder "what is the price of my car?" Here are several things you should consider as you plan to sell your car so you can buy a newer one.

Understand The Factors That Affect The Value Of A Car

One thing to understand about the prices of cars is that there is no set price for a vehicle. Every vehicle is unique and different, and the value of your car will depend on the following factors:

  • Type, make, and model
  • Year of the vehicle
  • Mileage
  • Condition
  • Maintenance history
  • The location where you live
  • The method you use to sell the car

These factors will all affect the price you can get for your car. If you want to get the best price for it, you may want to take a few extra steps to improve the factors that are within your control.

Out of all the factors listed here, there are only a few that you have some control over. One of these is the condition of your car. If your car is dirty or has some minor scratches, get the car detailed. For $50 to $125, you can get an average-sized vehicle cleaned thoroughly, and this could help you get a little more for your car. The only other factor you can control is the method you use to sell your car.

Learn The Difference Between Resale Value And Trade-In Value

There are two main methods you can use to sell your car. The first is to trade the car in, and the second is to sell the car outright to a private buyer. Selling a car outright is usually the best route to take to get the highest price for a vehicle; however, it is not the easiest method to use. It may take time to find a buyer, and you may have to put in some work to advertise it on classified ad sites.

As you decide between these methods, it's important to learn the difference between the resale value of your car and the trade-in value. The resale value (also called retail value) is based on selling the car to a private buyer, and this method will result in a higher price for the car because the buyer will not be marking it up to resell the car.

This is why trade-in values are less. When you trade a car in, the auto dealership must mark the price up to sell it to someone else for a profit.

Find The Value Of Your Car

No matter how you plan on selling the car, you will need to begin the process by finding out what your car is actually worth. There are several good ways to do this, and you could begin by looking up a car appraisal website. Sites like this will usually tell you both the resale value as well as the trade-in value of a car.

In addition, you can try to determine the value of your car by looking at used car ads. This will give you an idea about how much dealers and private sellers are listing similar cars for. You could also take your car to a dealer to find out its value. Many dealers will appraise cars on the spot, and you will have the option of accepting or declining the offer they make.

If you want to purchase a newer car and have an older one to get rid of first, visit an auto dealership today. They may be able to offer you a fair price for your car, and this would make buying a new one a lot easier.