Estimate a Used Car Value

It’s essential that you are able to estimate a used car value in order to make sure that you are getting a good deal when shopping for your next automobile. Fortunately, there are a variety of resources that you can use as a consumer in order to make sure that the seller’s asking price is accurate. Here is a quick tutorial on used car pricing that you can use as a consumer in order to make sure that the car you are considering is in the correct price range. If you are selling a car, you can use this as a guide to determine a fair asking price.

Pricing References
There are two main used car pricing references that you can use in order to get a good starting point for the vehicle’s value. One is the Kelley Blue Book. Kelley Blue book is fairly well known; they have been compiling pricing information on used cars for nearly 100 years. The blue book value is generally a pretty good ball-park figure for a used car’s value.
Another resource that not as many people know about is the NADA (National Auto Dealers Association) guide. NADA compiles information about car values, supply and demand from used car dealerships nationwide and uses these numbers to calculate a ballpark figure of a car’s value as well.
Both of these resources integrate basic information about the vehicle such as the car’s current mileage, how the vehicle is equipped, and its general condition in order to generate a price. However these numbers can really only serve as a guideline—they are by no means set in stone. Since every car is different, it’s up to the buyer and seller to take the extra steps to determine the car’s true value. 

Vehicle Background
Another good resource is a vehicle background check (VIN check). A car with a clean VIN check will obviously be worth much more than a car with a history of even minor accidents or other problems. Doing a vehicle background check online is easy. 

Vehicle Condition
Some other things that should be taken into consideration once a starting point has been reached are things like the vehicle’s condition—has it been repainted? Are the tires all new and matching? What is the condition of the interior? Does the vehicle have thorough maintenance records? All of these can positively or negatively impact the resale value of the vehicle. 

Modifications and Extras
Some vehicles have aftermarket modifications that might have a positive or negative impact on the vehicle’s value. Some common examples of this are vehicles with comprehensive aftermarket sound and entertainment systems or vehicles that have had extensive performance modifications. Modified vehicles require special evaluation in order to establish a firm value. Remember that although a modified vehicle may appear flashy and alluring, unless the work was completed in a quality fashion the modifications can actually have a negative impact on overall resale value.