How to Determine the Value of a Used Car

Whether you're looking to buy a used car or are looking to sell your car, you'll need to know whether the price you're paying or being offered is a fair one. Valuing a used car can be a tricky prospect, however, and you'll need a bit of information to determine what a car is actually worth in the Doylestown, Philadelphia, or Flemington region.

Explore this guide on how to determine the value of a used car, so the next time you're looking to make a deal, you've got an advantage in negotiations.

Factors Influencing the Value of a Used Car

There are a number of factors that go into determining the value of a used car. These include the original retail price of the vehicle-what it was worth on the showroom store-its age, its current condition, what trim level and options packages it has, the mileage on the odometer, and even the general area where it's being sold. The more you know about your vehicle, the more accurate your valuation will be.

Why Know the Value?

Knowing the value of a used car can be essential to getting the right price for your trade-in, or paying the right price for your next used vehicle. The more information you have, the better poised you'll be to get a good deal on your trade-in or buy.

Check the Kelley Blue Book® Value

The first step is to look up your car's Kelley Blue Book value®. This is the general standard for valuing a car, and you'll have to answer a range of questions about the state of the vehicle. All of the above factors will come into play: 

• What year is your car?
• What's the make and model?
• What options does it have?
• How many miles are on it, and what's its general condition?

The basic valuing of a vehicle at the KBB website is free, so it provides an excellent point from where you can begin. One great aspect of the Blue Book® is that it will give you multiple values for a car you're researching: the retail price, the private seller value, and the trade-in value will all be different, but can help you get a baseline for how to value the vehicle in different situations.

Compare Used Car Prices

Your next step is to check other sales in the area. See what other sellers are asking for similar vehicles in your region. This can help to give you a solid idea of what your car is worth in your geographic area. You can use these figures to adjust the KBB value of your car accordingly if necessary. There are a lot of online used-car vendors that you can also check by limiting the search to your area.

Buy or Sell at Fred Beans Used

When you're ready to buy your next used car, or to sell or trade in your current car, Fred Beans is here to help. We're a trusted used car dealer, and are ready to give you a fair deal across the board. Give us a call or contact us online today!