Everything you need to know about selling your car
If you’re just looking to get a ballpark estimate of what your car is worth, you can use a single estimator. But if you plan to sell or trade in your car, it pays to check two or three.
Features and options: This will include everything from the color of the car to the options it includes. Most value estimators provide a laundry list of options, so all you need to do is check each that applies. Be as objective as you can, without overcompensating in the other direction, either. The best price will be the most accurate one. And a realistic assessment of your vehicle’s condition is the most important step in getting that best valuation.Trade-in value: This is the value you can expect to receive if you trade in your vehicle to a dealer. It will be the lowest of the three values since it must incorporate a dealer profit.
If you’re looking to dispose of your vehicle, you’ll be most concerned with the trade-in value and the private resale value. The dealer resale value isn’t relevant, since it represents a price you probably can’t get for your vehicle.Once you have one or more car value estimates, you should compare the values you receive with what’s available in your area.
If you have the time to wait, you can ask for a similar price to what you’re seeing advertised. But if you need a quick sale, pricing your vehicle at its estimated private party value will be the best strategy. Another differentiator is the range of questions asked, particularly regarding the condition of your vehicle. One estimator may have a larger number of condition levels to choose from, which could result in a different valuation than one offering fewer condition levels.In general, selling your car is likely to result in more cash than trading it in. But whether that can happen depends on how confident you are in your ability to sell the vehicle.
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