What Is The Value Of My Car?
If you are considering buying a new car, you are in good company. The automotive sector is one of the brightest parts of the U.S. economy today as car sales continue to climb month over month. Many car shoppers use their current car as a trade-in, covering the down payment and much more. Although you may find that you can get a better deal selling your car privately, your new car dealer is looking for good, used cars to sell too. If you want to avoid the hassle of selling your car privately, then you need to know what your dealer is willing to pay you for your car. There are a number of sources that can help you uncover this information. We’ll use the Kelley Blue Book buying and selling guide for this example.
1. Get your car ready to sell.
You’ll be prepping your car to sell anyway, so why not work on this step first. After all, you want to show the dealer that your car is well cared for and worth the price that you want. First, ensure that all maintenance is up to date. Change the oil, the oil filter, replace the air filter and clean off the battery, as needed. Second, if there are repairs that need to be made, you will need to decide whether to have these done yourself or allow the dealer to handle the work and get less for your car. Third, wash and wax your vehicle, and vacuum the interior. The better the detailing and condition of your car, the more likely you’ll garner a sweet deal. For a late model car, consider investing the $150 or so a professional detailer would cost to make your car shine inside, outside and under the hood.
2. Visit Kelley Blue Book.
Direct your web browser to kbb.com, a site that will help you determine the value of your car. On this site you will find several options for obtaining pricing information. Cut to the chase and click on the tab for “What”s my current car worth?” Next, click on “I plan to trade it in.” Your browser will redirect you to a new page.
3. Get Your Blue Book Value.
At this point, KBB want to know more information about your car. Put in the year, make and model of your car, along with the miles on your odometer. Hit the “next” button. Select your car’s style. KBB knows what trim levels and styles come with your car, so choose the one that is applicable. If you are not sure, you can click the “Not Sure?” button to get a comparison. You will be moved to another page, where you can identify your car’s options. Here, you will want to carefully choose the options that are found in your vehicle, by choosing the appropriate bubbles for the audio system, convenience features, power accessories and more. Once you are done adding options, click on the “see Blue Book Value.”
4. Your Trade-In Value.
At this point, you will find four trade-in values for your car: excellent, very good, good and fair. Be honest about the condition of your car as your dealer will certainly ascribe to it what it thinks your car is worth. Jot down these amounts and be prepared to negotiate accordingly. Trade-In Considerations If you know that your car is popular and worth a certain amount of money, then be prepared to hold fast to that amount when negotiating a trade-in. Always negotiate the price of your new car first before talking your trade-in. Your salesperson may agree to pay a high price for your trade, but be less generous with your new car. If you can’t work out a deal, then walk away. You can shop around for a better offer. Source Kelley Blue Book: http://www.kbb.com
Jeff Foster has been blogging and writing about automotive related topics since 2009. He is currently working with the AutoFair Preowned group.