What Is My Car Worth?

Real Vehicle Value: What Is My Car Worth?

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.

How Do I Find the Actual Value of My Car?

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:

Have a Look at Similar Models

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.

Use One of the Online Car Value Estimators for Instant Appraisal

Can I Look up the Vehicle Value by the VIN Number?

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.

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.

Ask Local Dealers to Estimate How Much Your Car Is Worth

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 .

3 Other Ways to Get a Vehicle Value You Haven’t Thought of

1. The first way, one of the most effective, to find out the real vehicle value is to contact any credit institution (car pawnshop, bank, etc.) with a request to calculate the potential used car value as collateral for credit or loan. Having learned from them how much your car is worth, you can safely add 10 – 15% to its estimated cost and thus get the market price of your used car.
2. Another way is to visit the official dealer of your car brand in Indianapolis and find out the trade-in value of your vehicle. You can safely add 20% to this estimation, and this will be the average market price.
3. The third way to find out your vehicle value is to contact any insurance company for a potential assessment of the car insurance against any damage and theft. They will tell you the insurance cost for this car, which is calculated by complex formulas based on the real market price of this car and its mileage. By discussing with the insurance manager maximum-minimum coverage, you’ll get the vehicle value.

Get the Most Beneficial Offer in Indianapolis with No Headache

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 !