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How to Find Your Car’s Resale Value

Are you considering selling your vehicle and aren’t certain how much money it’s worth? Perhaps you’re not sure if you should trade-in your car when purchasing another, or sell it privately. Automania is pleased to present the following informative tips.

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Comps

Search the internet for classified ads to find out the asking price of similar vehicles in your vicinity. This will also give you a sense of your competition, depending on how many comparables there are currently for sale.

A Little Guidance

Convenient pricing tools are able to calculate the estimated value of your vehicle. You will be directed to enter specs about your automobile.

Set Your Price

Ponder additional elements that affect the value of your automobile. For example, any upgrades you’ve installed, how in-demand your vehicle is, and the particular time of year are all contributing factors. Study pricing guides and online classified ads to get a true sense of your auto’s worth.

There are a number of trusted pricing guides free of charge on the internet. Three of them are Kelley Blue Book, Edmunds, and NADA (National Automobile Dealer’s Association) These are very informative resources for consumers to utilize.

Kelley Blue Book provides a user-friendly auto value calculator that furnishes certified pre-owned, private party, and trade-in pricing.

Edmunds determines a vehicle’s value based upon actual prices consumers paid for similar automobiles purchased in the same vicinity.

NADA assesses a vehicle’s value based on statistics of millions of auto sales.

Year, Make, and Model

This is basic information to begin the assessment.

Extra Features and Color

Extra features that don’t come standard such as leather upholstery, sunroof, and heated seats influence the value. Even the color of the vehicle can make a difference.

Condition

It is crucial to be truthful about your vehicle’s condition.

Mileage

The average driver puts approximately between 12,000 and 15,000 miles yearly on his or her automobile. Undeniably, higher mileage decreases value, while lower mileage increases value.

There may be a disparity in values based on the following:

  • Trade-in value: The monetary value assigned to your vehicle at a dealership when you buy a new automobile. It is referred to as the wholesale price, which is very low.
  • Private party resale value: This is roughly what you can expect to receive after private negotiations.
  • Dealer retail value: Approximate asking price if your car were being sold by a dealer. The dealer retail value is a much higher amount than the private party and trade-in values.

Certified pre-owned value:

A number of pre-owned vehicles are carefully examined and sold with bumper-to-bumper warranties. These autos demand higher prices as they offer peace of mind to buyers.

Automania is a highly-regarded establishment in its field. We pride ourselves on the ability to provide optimal customer service, quality inventory, and competitive prices. We are located at 5511 Northern Boulevard, Woodside, NY. Please contact us at 718.255.1353.

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