If you're looking for resources that can help you price your car, these are the top ones:
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- NADA guides
- Kelley Blue Book
- Edmunds
- Craigslist
- Local auto dealerships
- Online classifieds
Pricing your vehicle is one of the most critical steps to focus on when selling your car. Most people focus on listing their vehicles for the best price. However, they must remember about the competition and that they might need to drop the price slightly to attract more buyers.
The question remains: Are there any online tools or resources that can help you price your used car? This article will help you answer this question and provide some details about what factors could impact the value of your vehicle to give you the best picture of revealing true value.
Are there any online tools or resources that can help me price my used car?
There are lots of resources available online that could help you price your vehicle. However, all of them are legitimate, and some of them might provide you with some biased information. That's why you get a focus on the right resources from automotive experts if you're looking for the true value of your vehicle.
According to automotive experts, there are six common ways to get a sense of how much your vehicle is worth, and these ways are known to be accurate, but some of them might require additional steps to give you the real value of your car. Let's take a closer look below:
1. NADA guides
One of the most popular website for pricing your vehicle is the NADA guides. This is one of the oldest guides used for dealerships to price vehicles and understand how much vehicles are worth.
This go-to resource for pricing vehicles is very flexible and allows you to adjust certain factors to determine how much your vehicle is worth. For example, we can play around with the mileage and your location to understand how much these factors impact your vehicle's price.
2. Kelley Blue Book
The second popular website to try is the Kelley Blue Book. This is a great and common website for people because it's very easy to use and user-friendly. For example, you can input your vehicle's information and get a minimum and maximum value to expect for your car.
You could also get information about what the dealership would be willing to offer you for your vehicle based on the KBB value. You can also print this value to make a case for asking the price you're looking for.
3. Edmunds
Another more modern website is edmunds.com. This website also provides many features, including pricing your vehicle according to recent data and providing you with a range depending on the current market trends.
The nice thing about edmunds.com is that it provides guidance about how to sell your vehicle and tips and tricks to help you go through the counseling process without any challenges. Therefore, eight months is known as a one-stop shop for anyone trying to sell a vehicle.
4. Craigslist
Did you know that you can see your vehicle's worth by looking at Craigslist's recent listings?! Yes! You can look for vehicles similar to yours and pay attention to the description to ensure that you're looking at the right vehicle to get a sense of how much people are asking for their cars.
This important step helps you become more competitive and allows you to select the price that is good for you but at the same time could be below what the other people are asking for, which means that you can boost your chances of receiving the best offer fast.
5. Local auto dealerships
Some dealerships can provide you with recommendations about how much your vehicle is worth. You can check with them to see if you're willing to sell them your vehicle, but remember that these dealerships underestimate vehicles.
This is because they have to take care of additional expenses like the physical lots and the employees. All these should be accounted for in websites like Kelley Blue Book and other tools, which typically provide you with a better offer for your vehicle.
6. Online classifieds
In addition to Craigslist, you could try other tools and classified websites like eBay motors or Autotrader. All these websites have listings for similar vehicles around your area. They can give you a sense of how much to ask for your car, but you have to be careful about reading each vehicle's description to ensure that you're accurately estimating your vehicle's value.
Experts recommend checking multiple resources to determine the value of your vehicle. This way, you can validate whether you're asking the right price for your car or underestimating your vehicle. You also don't want to list your vehicle for a very low price, so you can take advantage of opportunities that could help you get out of your car fast.
Factors that affect your car's value
In addition to understanding the available tools, you also need to know what factors could affect the value of your vehicle. For example, some of the tools we indicated before don't consider that your vehicle has some problems, and that's where things get trickier when pricing your car.
Here are some of the main factors that affect your vehicle's value which you should consider as you're pricing your car:
1. Condition
Your vehicle's condition is very critical when it comes to how much your vehicle is worth. Yes, Kelley Blue Book will provide you with a range of the minimum and maximum values for your car, but it needs to account for the vehicle's condition and the fact that it needs some repairs.
Therefore, you should talk to your mechanic what to see your vehicle is worth or how much their repair costs are so you can subtract those from the final KBB value.
2. Age
Your vehicle's age is important information that many buyers focus on. That's why when they search for used vehicles, they might sort the search results by age or year, which means that it's a critical component when pricing your vehicle.
That's why if you're planning to sell a used modern car, you might have a chance of receiving a higher offer than someone else trying to sell a vehicle from older years. However, remember that all factors play together, and even if your vehicle's old, you still have its value because some vehicles might hold their value for a long time.
3. Location
You should price your car differently depending on where you live. That's why when you search for your vehicle price, you must take into account the situation where you live, and if you're looking at example listings on classified websites, you must focus on listings in your area.
The location plays a significant role in terminating the final price of your vehicle because, depending on the taxes and the amount of available parts replacements or vehicle popularities, your vehicle value might differ.
4. Mileage
The mileage is a significant indicator of your vehicle's value. All people know that they hire the mileage, and the more likely your vehicle will start dealing with major problems like those impacting the engine or the transmission.
Automotive experts indicated that a threshold of 100,000 miles might be a good point where vehicle prices can get affected significantly by the mileage. That's why you'll see that you can get a better offer if you plan to sell a vehicle at 95,000 miles versus 105,000 miles.
5. Options
Some vehicles might have additional options or upgrades. For example, if you upgrade certain components in your vehicle, you'll get a higher value for your car. That's why you'll need to keep all paperwork and receipts confirming what you've done to the vehicle.
While upgrading your vehicle is a great idea, only some people will be happy. For example, if you adjust the tires or the wheels in a way that makes the vehicle looks different, not everybody may accept that. Pure therefore, having the upgrades on your vehicle is only sometimes a good thing, and that's why before you plan to change anything in the car, think long term and think about the time you are planning to sell this vehicle.
6. Market trends
Finally, there are different market trends and different regions around the US, so it's important to watch and see whether there are certain trends for certain vehicles that you are interested in or planning to sell. For example, if there's a lot of interest in purchasing your Honda Odyssey, you'll find that you can get a decent offer for this vehicle in your area.
Final thoughts
Understanding how much your vehicle is worth is critical for everyone planning to sell his vehicle. However, there are a lot of challenges, especially with the increased number of available online tools, making it tricky for inexperienced car sellers to determine the right resources.
This article helped you ask whether there are online tools or resources that can help me price my used car. It provided six important resources, including the NAD A guides, Kelley Blue Book, Edmonds, Craigslist, local auto dealerships, and classified websites.
If you're interested in selling your car today, we can always call a cash car buyer at 773-791-4363. We will provide you with an instant offer generated within 30 seconds only, and we'll pick up your car within one to three days only!