Posted Thursday, September 1, 2022
What is my car worth? This question haunts all used car owners when it is time to sell a vehicle. If you are afraid to make a bad bargain or ask too much and never find a buyer, read our comprehensive guide to get a clear plan of your car estimation process.
When starting your research, you will see that the cost of used cars of the same model can vary significantly. After all, the real car value is the amount of money a buyer is ready to pay. Some used cars hold their value better than others, but you should always take an average market price as a reference. Here are the main steps to find it out:
This method is the least accurate, as finding the same car is hard. It is not enough to know the year of manufacture, mileage, bodywork, drive, engine, equipment, options, etc. Engine overhaul, branded title, various upgrades, and other factors can influence the final price greatly. When researching the used car market, keep in mind that you will get only a rough estimation.
If you need to understand whether it is worth selling a car in Indianapolis at a particular price, make a test sale ad. If there are few or no calls, the price is too high. Your phone is blowing up? So you can increase the cost a little to make a good deal.
The most popular resources in the US are Kelley Blue Book and NADA, intended to calculate the approximate cost of a used car. They use algorithms that take into account numerous characteristics. However, they can’t consider additional equipment and some other nuances. Read more about how KBB and NADA estimate used car values and whether any of them will be helpful.
On some websites, like CARFAX or VehicleHistory.com, consumers can enter a VIN number of any car produced since 1980, and receive a history-based value estimation. With a VIN number, it is also possible to get a Blue Book value on kbb.com.
By addressing a dealership, you get the price they are ready to pay for your car right now. The gap between the minimum and maximum valuation can be up to 30%. Compare offers in neighboring cities. As a rule, the chances for a better price are higher in big cities. So if you live, for example, in Greenwood, check also what is your car worth in Indianapolis.
The concept of market value is very vague and is always the result of complex agreements between a particular buyer and seller. If you step on the car selling path all alone, the process turns into a tricky affair, which contains a lot of subjective criteria. In turn, at Indy Auto Man, we strive to provide the most flawless experience and the best deal with every car we buy. Whatever the model or make, we offer a real market value and get you rid of all paperwork. By the way, you can get a discount for a new car, if you wish not only sell your own, but buy another vehicle at once. Get your online appraisal right now!