What Is My Car Worth? – Trade-In Value

July 5th, 2018 by

Are you considering buying a new or used vehicle and wondering how to go about determining the trade-in value? How do I find out what my car is worth? Should I trade-in at the dealership or sell the vehicle myself private party? These are some of the questions you may ask yourself when it is time to upgrade or sell your used vehicle. Before you decide what option to go with, continue reading and make an informed decision;
What is my car worth?

Factors That Affect Your Car’s Trade-In Value

To get the best value for your used car, consider the following;

  • High mileage – vehicle above 100,000 miles tend to be valued less.
  • Mechanical issues – does my vehicle run perfectly?
  • Interior condition – avoid stains, cigarette smoke odor and tear.
  • Exterior condition – any dings, dent or pending cosmetic repairs can lower the trade-in value.
  • Owing on the car – if you have not paid off your car loan or title lien.
  • Do I have positive or negative equity?
  • Updated features – tint, cruise control, remote start, navigation system and modifications may add value to your trade.
  • How many miles are on my tires?
  • Always do a thorough interior and exterior clean – a first impression will go a long way!

How Much Is My Trade-In Worth?

Before a final trade-in offer is written, the following steps are followed;

  1. Determining the current market value based on the model, year and mileage
  2. Inspecting the car’s interior and exterior for any excessive wear-and-tear or damages.
  3. Test driving to know if brakes and major car functions are working correctly.
  4. Going through the vehicle’s history report like Carfax to review accident, service and recall records.

Popular Trade-In Tools

All car dealerships will use one of the popular car appraisal tools listed below;

  • Kelly Blue Book Value
  • Edmunds Used Car Value
  • NADA Used Car Value
  • Black Book
  • Trade Pending

Ready To Trade-In Your Vehicle?

At Larry H. Miller Dealerships we use the above trade-in tools among others to provide our customers with the highest offer for their trade-in. We will buy your car even if you do not buy from us! Get in touch with us today and let us help you get your next ride!

What Do I Need To Sell My Car?

Once you have scheduled a visit at any of our dealerships, please bring the following;

  • Valid state-issued photo ID/driver’s license.
  • Valid and current vehicle registration.
  • Vehicle’s title or payoff information.
  • All keys and remotes.

 

 




Posted in Car Selling