How to Determine the Value of a Car
If you're looking to sell your automobile, the first thing you might want to do is see how much it's worth. This will give you a good idea on how much money you could get to put toward a new vehicle.
There are several ways to determine the value of a car, which we'll go over below. Read through our detailed guide and contact us at FreeVehicleValues.com, if you need help determining the value of your car.
Steps to Determine Fair Market Value of a Car
Fair Market Value (FMV) will tell you how much your vehicle is worth on the private market. By entering in details about your car on an auto industry website, you'll get the most accurate valuation.
To calculate your vehicle's FMV, you'll want to follow these steps...
- Enter in your car's year, make, model, and trim.
- Provide the mileage, which can be found on the odometer inside your automobile.
- List all your vehicle's options and amenities. This information can include anything from a navigation system and a sunroof to leather upholstery.
- Assess your vehicle's condition honestly, which will help determine a fair value for your car.
When all these steps have been completed, you'll get the FMV for your automobile. You can then use this information when the time comes to sell your car.
3 Factors That Determine the Value of a Car
There are several factors that go into determining your car's worth. These can include...
1. Special Features
Major features, like the type of engine or transmission, can determine your car's worth. If the vehicle has an all-wheel drive system, then that could also bump up its value.
Special options will also be considered. As we mentioned above, a sunroof, leather seats, and navigation can improve a car's value. Other features, such as automatic climate control, Bluetooth®, and a backup camera, can also make a big impact on a vehicle's worth.
2. A Vehicle's Condition
Many car value websites have a section to rate the condition of your automobile. One site may have you rate it on a scale of 1-10. Another may have different options ranging from "Outstanding" to "Damaged."
You'll need to be honest when assessing the state of your automobile. While it may be in great condition, many cars don't qualify for an "Outstanding" rate simply due to natural wear over time.
However, if you've kept up with routine maintenance and there are no damages, then the car can still get an above average rating. This will give it the boost it needs when it comes time to sell or trade it in.
3. Car Location & Time of Year
When and where you're trying to sell your vehicle can also determine its value. For instance, if you have a convertible, you may get a higher value for it if you live along the coast and are selling in the warmer months.
On the flipside, a four-wheel or all-wheel drive truck or SUV may fare better in the Northeast, Midwest, and other areas that get a lot of ice and snow.
Find Out How Much Your Vehicle Is Worth Today
At FreeVehicleValues.com, we'll help make the car-selling process as easy as possible. After you enter in your car's details into our site, we'll give you up to four cash value offers. You'll then select a buying center in your area and will get the money you need to put toward a new ride.
So, don't wait. See how much your car is worth today!