See Your Car’s Trade-in Value

How Much is Your Car Worth?

Find out what your vehicle’s trade-in value is before visiting a car dealership. In as little as a minute, Edmunds’ free appraisal tool can give you an accurate estimate for your car. They do not require any personal information from you, and you will not be solicited by third parties.

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See what your car’s worth

You’ve decided to trade your car in. Although you realize selling your car yourself will net you the best deal. You don’t have the time, energy, or patience. The one-stop shopping convenience of buying a new car and trading in the old one at the dealership appeals to you.

The trouble with trading your car in at a dealership is they have experience on their side. Extracting the best deal takes research, savvy, and a bold approach.

Click on the picture to find out what your vehicle is worth before ever stepping foot into a dealership.

How the appraisal tool works

Edmund’s appraisal tool is simple and easy to use:

Enter license plate or VIN – This helps them identify your car. You don’t have to enter any private or personal information.
Answer a few quick questions – What trim level? What condition? How many miles?
See what your vehicle’s worth – Get an accurate appraisal value on what your vehicle is worth in your area.

Details about the appraisal tool

Cars manufactured after 1990 may be appraised: Almost every make, including foreign, domestic, and luxury brands like Infiniti and BMW, are covered. If you possess a historic automobile, this approach will not work because the technology only appraises vehicles manufactured after 1990. In such a scenario, you’d need to consult a professional classic vehicle guide to figure out what it’s worth.

How your appraisal is calculated: They use data from several sources, including dealer transactions, automobile depreciation costs, and customer information, to compute valuations. The assessed value is determined by the year, make, model, trim, mileage, depreciation, and characteristics of the vehicle.

The information on your appraisal: If you’re selling or trading in your car, we’ll help you make the best decision possible. You’ll be given up to four car prices to choose from trade-in, private party, dealer retail, and certified used. If you trade in your present vehicle for a new one, the trade-in price is what you may expect from auto dealerships. Out of all of the prices, it’s always the smallest of the options and closest to the actual cash value of your vehicle.

The private-party amount is what a seller may expect if they are conducting a private transaction. This is always more than the trade-in value of the vehicle. However, because you’ll be interacting with buyers directly, this method requires more effort.

The dealer retail value on the appraisal is for consumers who are buying a used car. It’s an accurate estimate of what a buyer may anticipate paying at a dealership when purchasing a used vehicle. If you are currently valuing a late-model used car, you’ll also notice a suggested “certified used” figure, which is the estimated sale price for consumers looking for a certified pre-owned car.

Honesty is the best policy

You will be asked to describe your car via the tool. Let’s take a look at why investing in the proper choices is worthwhile.

Options and trim levels are important when it comes to value

The engine type, transmission, and drive system of an automobile can all have a significant influence on its overall value. A sunroom, GPS, leather seats, and automated temperature control are all available as options. It’s wonderful if you can recall your car’s choices off the top of your head. If not, here are some resources to help you locate the information you want.

The easiest location to look for added options is on the vehicle’s original window sticker (which includes the mpg, packages and total MSRP). Unfortunately, only a small percentage of people keep the sticker. If you don’t have it, your best chance is to sit in your car and compile a list of the alternatives available to you.

You may complete the options check section while sitting in the driver’s seat if you’re using a smartphone, tablet, or laptop. It’s critical to choose the correct options and trim level. You are looking to find out the true value of your car. The last thing you want is any surprises by undervaluing or overvaluing your automobile.

One important trade-in tip is to make sure your vehicle is presentable by cleaning it up as much as possible before taking it to the dealership. There are many simple and inexpensive things you can do to increase the value of your trade-in before taking it to the dealership to guarantee you get the most money for your car.

You will also need to understand that someone will physically inspect your trade-in when you get to the dealership. Dealers are not too keen on doing “sight-unseen” appraisals. This is not common practice and not how a dealership’s appraisal process works.

Step-by-step walkthrough on how to buy a new car | New Car Buying Cheat Sheet

Trade-in value FAQ’s

Is it possible to trade in my car if It’s not paid off?

The short answer is, “Yes.” However, you will want to be sure the trade-in value is sufficient to pay off the auto loan. Otherwise, the debt will be carried over to your next auto loan, and you will owe more than the vehicle is worth. In the car business, this is called, being “upside-down” in your vehicle.

How is the trade-in tool value calculated?

There are many factors taken into consideration when calculating a used car’s value:

The factory invoice price of the automobile.
Manufacturer’s suggested retail price. (MSRP)
The supply and demand for that particular model.
Data from real-world transactions around the United States.
Popularity and reputation of a car brand.
Manufacturer incentives to dealers (which might decrease the car’s True Market Value).
Advertising costs for dealers and manufacturers (1-3 percent of the TMV).

Terms to know when selling or buying a car

MSRP (Manufacturers Suggested Retail Price). Manufacturers recommend prices to dealers for the sale of their vehicles, as the name suggests. Only new cars are eligible. Dealers have their calculations that inflate the price even further.
Factory invoice price. This is the price paid by the dealer to the manufacturer. It is also mistakenly known as the dealer’s cost. True new car dealer cost can be much lower than dealer invoice price. Again, this is generally reserved for new automobiles.
Purchase price. This is the total cost of the sale, including all fees. Taxes are computed individually and are not included in the purchase price. This pricing is valid for both new and secondhand automobiles.
Wholesale Price. This is the amount a dealer spends when purchasing used vehicles. It is unlikely that you will be able to purchase an automobile at its wholesale price. Only desperate dealers sell without making any profit.
Trade-in Value. Also, know as “Actual Cash Value.” This is the price you receive as an offer from a dealer when you trade in your old automobile for a new one. The value of your trade-in will always be less than the amount of money you can earn selling to a private buyer.
See all new car price terms you need to know before buying a car.

What is average car condition?

The automobile has typical wear and tear and requires minimal reconditioning before it can be resold. It may have minor dents, dings, or scratches and may require some maintenance, but it does not need substantial mechanical or aesthetic repairs. There are no concerns with the title, history, or odometer.

What is considered poor condition for a vehicle?

The term “poor condition” refers to a car that has significant technical and/or aesthetic flaws and is in poor running condition. “Poor” refers to a car with a branded title (salvage, flood, etc.) or unsupported mileage. To establish the worth of a car in bad condition, an independent evaluation may be required.

About the author

My name is Carlton Wolf and I have been in the retail and wholesale car business for well over 20 years. I created the Auto Cheat Sheet to better educate buyers on the deceptive sales practices found in many dealerships across the country. Please understand, not all car dealers are dishonest. However, you never know who you will be dealing with. I’m willing to share my knowledge and experience with anyone willing to listen. Keep in mind… I’m a car guy, not a writer.

See Your Car’s Trade-in Value

See what your car’s worth

How the appraisal tool works

Details about the appraisal tool

Honesty is the best policy

Trade-in value FAQ’s

About the author

New Car Buying

Buying Used Cars

Car Trade-In Tips

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