If you’ve been saving up for a new car, perhaps the most important aspect of selling your existing set of wheels is getting the correct car valuation. Luckily, with the help of modern technology, you won’t have to rely on guesswork or witchcraft. Going to several dealerships is a time-consuming way to get your car valued. There are a number of websites that offer free car valuations. This information will arm you with the knowledge of what your car is actually worth.

How do I check how much my car is worth?

Where car value was once in control of industry insiders or car buyers, now anyone who has access to the internet with some spare time on their hands can analyze the latest price of the used car on the market. It’s as simple as entering a few digits into the correct website.

Remember, it’s worth considering who you’re giving your data to. Check to see of the site is legit. After all, they are the ones you’re eventually going to sell your car to and receive payment from. Contemplate trustworthy third-party sites such as We Buy Cars Today.

They will initially give you a rough estimate of your vehicle’s value. Keep in mind that it will be a little lower than what you can expect if you were selling privately. The company is entitled to a percentage of the sale to keep the business running. They need to take into account their costs and overheads. Plus, they’ve eliminated the hassle of selling your vehicle and handled all the paperwork. There ought to be a reward for that.

You will be asked to provide your automobile’s mileage and contact information, including your location. Note any damages that it might possess. All these factors will be taken into account when calculating a car’s true worth. No one will be interested in paying top dollar for scratched paintwork, worn interiors and damp patches in the boot. Any undesirable facets in a used car will cause the value to drop.

You will be given a quote that is valid for a week. If you agree with it, you can proceed by setting up an appointment for a manual inspection of the car as well as all documents. The estimated price can either increase or decrease, depending upon how the representative perceives all the information.

How to get a fair value for your used car

Getting rid of your current vehicle can be stressful. That’s why many people opt the path of least resistance and avoid the hassle of selling it on their own – they are eager to trade it in. But before you begin any negotiations over the price, it’s important to know the true value of your car.

Some sites can help you determine a fair value for your car. They typically provide you with three figures:

• the private-party price, which is what independent buyers will negotiate
• the trade-in price, which is always the lowest and is what a dealer will pay you for your car
• the retail price, which is what a dealer hopes to sell a used automobile for to another buyer

Determining the right value

Setting the appropriate price for your used car can be tricky. If it’s too low, you end up being cheated out of money to pay for the new automobile. Buyers may also wonder why you’re selling it off so cheap. And if you price it too high, you could be stuck with the used car and making payments on your new one at the same time — a pretty bad scenario for your budget.

Defining your car’s condition

The most crucial step in this whole process is determining your vehicle’s condition. If it’s in good shape and well maintained, then the value increases. Let’s face it- you need to be honest. If you have a hard time being objective, have a friend inspect your car.

To get an accurate idea of what to look for, here are some guidelines that you can follow to discern its correct value:

1. Excellent

The car is in exceptional shape in all aspects. The maintenance records are complete. The engine works well, and the tire has enough tread. The interior and exterior are free of damage. The paint is flawless or has minimal chips and dings. The title is clear, and it’ll pass the required local and state inspections. Studies show that only 5% of all used cars fall into this category.

2. Good

The car shows wear consistent with its age. There are no major cosmetic or mechanical issues. The exterior still looks good, but possibly has a few scratches. Minor touch up might be required. The tires are in acceptable shape and have some life left, but there are no uneven wear patterns. The interior has endured minimal wear and tear on seats and carpet. The maintenance records are available along with a clean title, so it’ll pass inspection.

3. Average

This rating indicates that there might be a few problems, so you’ll have to make a small investment to fix them. The exterior is either faded or has a fair share of scratches and dents. The dash or seats could be worn down. The tires are possibly past their prime but still safe enough to drive. Maintenance records might not exist, but the car can pass state and local inspections. The title is clean.

4. Rough

This vehicle has been through hard times. It probably has various mechanical troubles. The exterior and interior are in dire need of reconditioning and repairs. Expect dents, faded color, and signs of rust. Tires will have to be replaced. Even with a clean title, it might be difficult to pass inspection.

5. Damaged

The car is unsafe due to substantial mechanical problems and body damage. It’s highly possible that it’s listed as salvage, flood, frame damage, etc. making it inoperable. Keep in mind that there will be costly repairs.

In hindsight, you should also consider the time of year; it also affects the worth of your vehicle. Getting an evaluation throughout the year will give you a better idea of what price to expect and when you can get the most out of your used vehicle.