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How to Find the True Value of your Car

Michael Hunt

Published

If you are thinking about selling your car, or you just want to trade your old car for cash, you will want to do some research to find out its actual value. From there, you should be able to fix anything minor and get a few extra bucks out of the vehicle. Here we are going to talk about how you can get the most cash for your used vehicle. Most of you who have never sold a car before have questions pertaining to the vehicle’s depreciation and its current market value. However, you need to do your due diligence for a smooth selling experience and ensure you determine its current value based on where you live and the local market’s demand.

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Preparing to Sell Your Car

Here are some helpful tips to help you sell your car quickly.

Spiffing up the Exterior

Grab a rag, warm water, and some soap. You can do it; put your back into it. Use a little extra elbow grease and get the car prepared to show. This will make any pictures you take of the vehicle shine and will also prepare the vehicle to be shown. 

Remove Dents

Do your best to remove any dents that might be present and easily removable. If the dents didn’t chip the paint, they should be easy to pull out using dent removal tools. 

Fix Window Defects

For insured cars, replacing windshields should be free, obviously minus all deductibles. But if you don’t have insurance, then consider using a DIY window repair kit. They are usually useful for fixing small chips and dings. 

Clean Interior

Dust all interior surfaces, cleaning the fabric, and vacuum clean the carpet and mats. There are dashboard cleaning solutions that will give your interior a renewed look and feel. 

Engine Compartment

A well-cleaned engine bay tends to convince the buyer that mechanicals have been in good maintenance. A simple pressure washing of the engine bay can clean it up enough to give it a presentable appearance. 

What Affects Car’s Value

Whether you are looking to sell your car privately or maybe trade it in for a different one, several things need to be considered. Determining the estimated cost of your vehicle is not a walk in the park. Discussed below is a list that that plays a role in fluctuating the prices of cars in the market:

  • Mileage
  • Brand
  • Color
  • Age
  • Service History
  • Customization
  • Damage
  • Previous Owners

Brand

Different brands and models appeal differently to prospective buyers and sellers. A simple check on which type of car you are looking to buy sits well, as some brands hold value more than others. This information will help you understand how much depreciation will occur and over which period.

Mileage

Typically, cars with lower mileage tend to attract more buyers. The sale goes a notch closer and opens to negotiation when buyers see that the said car has covered less distance. It comes with the assumption that high mileage cars have a high degree of wear and tear.

Color

Different car colors retain their market value more than others hence more desirable to prospects. It is to say, in terms of paintwork, finishing plays a vital role in convincing buyers. In most cases, popular car colors help you retain the value of your car.

Customization

Often upgrading and experimenting with additional features on your car can do wonders. If you customize and add extra features like the dashcam, rear camera, or music system, you will surely fetch a higher price.

Previous Ownership

Single owner cars tend to fetch more money; if there have been previous owners, be transparent, but it’s unnecessary to offer that information up front. 

Proper Documentation 

Make sure you have proper documentation ready before the buyer arrives. A notarized title and bill of sale will make the selling process a smooth one. Don’t wait until the day of the sale to acquire these documents. Get them in advance so you are prepared for the deal.

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