Whether out of curiosity or looking to sell or trade-in your automobile, many wonder how much their car, truck, or SUV is worth. Denton and North Texas car owners can access websites specialized in assessing their vehicle’s current market value. These online tools are simple and free to use, and include Kelley Blue Book (KBB), National Automobile Dealer’s Association (NADA), and Edmunds.
Whichever site you use, you’ll provide information about your vehicle, such as the make, model, and year, any special features, current odometer reading, and the condition of the vehicle. For the most accurate estimation, it’s essential to input honest answers about your vehicle’s condition. To get an overall better sense of your automobile’s worth, use multiple online tools.
Understanding Car Values
When starting your research, it’s valuable to know the differences between the different car values. Situations such as a private sale or trade-in at a local dealership can affect the market value of your automobile. The following discusses the various car values.
Trade-in Value
An automobile’s trade-in value is what you can expect from a dealership when purchasing or leasing a new or used vehicle. This value is based on the resale estimate of the automobile and can change depending on the condition of the automobile. Although similar to a dealer’s resale value, a trade-in value is generally lower.
Private Party Value
A private seller value is a market value estimation of how much you may get from a private buyer when listing your vehicle in the private resale market. Depending on local market conditions, this value can fluctuate.
Dealer Retail Value
The dealer retail value is the dollar amount a dealer advertises as the “sticker value” of an automobile. This takes any repairs into consideration, as well as the dealer’s profit margin on the sale of the vehicle.
Certified Pre-Owned Value
A certified pre-owned value is typically higher than a dealer resale or traditional trade-in value. Inspected by a third-party, certified pre-owned automobiles provide buyers with added benefits, such as a limited factory warranty, increasing the market value in the vehicle.
We Buy Cars
Bill Utter Ford can give you a real offer for your used automobile. Simply enter the year, make, model, and trim or VIN online, and you can get an instant offer, often up to $250 more than our competitors. Get an offer now online or stop by our North Texas dealership.
