How Much is My Car Worth? Tips for determining your cars valueHow much is my car worth anyway? Knowing how much to ask for your car has always been confusing. The selling price can be affected by the car’s mileage, equipment options, even the part of the country in which you are located. There are several web-sites that will give you an estimated re-sell value of any car. The five most popular ones are: Edmunds, Kelly Blue Book, Cars Direct, Consumer Reports, and NADA Your estimated values will vary a good bit from site to site. Checking these sites is just part of the research process. Once you have all five estimates: · Go to each site, then take the average of all five estimates. To get the average, add up all five estimated amounts. Take the total of the five estimates and divide it by 5. For instance, say your 5 estimates are $10,000; $12,000; $15,000; $11,500; and $14,000. If you add all five amounts, your total is $62,500. If you divide $62,500 by 5, you get $12,500. The average price of all five estimates is $12,500...Or... · Go to each site. Get all five estimates. Take the highest and the lowest estimate, and price your vehicle halfway between the two. For example, in the above figures, the lowest estimate is $10,000. The highest estimate is $15,000. The halfway point between $10,000 and $15,000 is $12,500. That is the same answer as the above example, so you can see that either method will work. Now you are ready for your final step in doing your research to learn the answer to your question "how much is my car worth?": · Check e-bay and craigslist to see what comparable cars are selling for in your area. Once you have taken in all the information, you will begin to zero in on a good price. Trust your instincts. You have done your research. Now have confidence in determining a price that you can live with – whether you are buying or selling.
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