How to Set a Fair Value When Selling a Used Car

Selling a car on your own can save you the hassle and cost of working with a middleman. While it does have advantages, you also need to price the car properly. This ensures that you get the money you deserve for your vehicle without over or under-pricing it for the buyer. Not only will this get you the money you deserve, but a well-priced car will also sell much faster than one that is being sold for an outrageous or unreasonable price.

Here are some tips about how to set a fair value when selling a used car.

1. The best way to start is by referring to Kelley Blue Book at KBB.com. This is a great resource to help you determine the fair trade value of a car whether you are a buyer or a seller and it is a source that most people use and are familiar with. It has been a trusted source for decades, so you can rely on the information being valid and accurate.
2. Once on the site, look up your car’s make, model, color, and age to help best determine the fair market value. This will filter results and give you a range of prices that would be reasonable for pricing the vehicle.
3. Next, you will need to fill out a form giving more, specific details about the vehicle to enhance accuracy and reliability. You will need to explain the condition of the car such as excellent, good, fair, or poor. You will also need to give information about the car’s mileage and physical condition such as repairs that have been made to the car while in your possession or even prior.
4. Notice the differences between the fair trade and trade-in values. If you sell the car on your own without a third party, you will likely be able to charge more. If you sell it to a dealer and trade-in for a new car, they will likely pay you less. This is because, for the convenience of taking the car off your hands to sell themselves, they need to make a profit. Once you see the difference, you can decide how you want to proceed with selling your car.
5. Finally, you should also use another online resource called Edmunds.com. This site is great to use when you are negotiating with a buyer or a dealership such as Toyota of Boerne. The site provides up-to-date information regarding current market values so that you can remain updated and relevant. This database will ensure you are prepared for the sales process.

Selling your car can be difficult if you don’t know how to determine the fair value of a used car. Be sure to utilize Kelley Blue Book to determine reasonable asking prices for your vehicle with its specific features and conditions. Remember, cars are an investment that will depreciate with time, so you cannot expect to get back what you initially paid for. Setting a realistic price based on fair value will help you successfully sell your car.