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How to value your car so you can sell it to a dealership

How to value your car so you can sell it to a dealership

Valuing your car before you plan to sell it is an essential step in the selling process. Whether you sell your car to a dealership or sell it privately, it’s important to know how much it’s worth so you know you’re getting a good deal.

We want you to walk away happy and appreciate that knowing you got a good deal is going to be part of that.

That’s why we have put together this quick overview of how to value your car.

Remove emotion from the equation

If you have had your car for a long time, you probably have lots of memories of it. Those are priceless to you but worthless to a buyer.

It may sound harsh, but to you, those memories are life moments. Cherished memories of key moments in your life that you’ll never forget.

But, for the owner or valuer, they are irrelevant. So, to accurately value your car, you need to leave emotion behind and see the car as the appraiser would.

Be honest about the condition

Before you begin comparing prices, take a long hard look at your car and be honest with yourself about its condition.

Is it in amazing condition? No scratches, dings or worn seats? No chunks taken out of the alloys? If so, you can compare your cars to similar models.

If your car has minor wear and tear, take that into consideration when valuing. It won’t detract much from the value as it will be expected but make sure to compare like for like.

If your car has damage, excess wear or mileage, you’ll need to take that into consideration too.

Compare like for like

When you look at other cars in the market, you need to compare apples to apples. There is so much variation between makes, trims, years and technology that you can only get a reliable figure if you find the exact make, model, trim and year.

This should be easy if you drive a mainstream car but could be more challenging if you drive something more unusual.

Also make sure to consider mileage and condition too, as both have an impact on value.

Use multiple sources

Don’t look at Auto Trader or eBay and take that as a value. Different marketplaces place different values on cars.

Use multiple sources and take a figure in the middle of all of them to give yourself a baseline.

We usually recommend checking Carfax, Kelley Blue Book, Auto Trader, eBay, Craigslist and Kijiji.

Find your exact car on each of those marketplaces and take an average of values to give yours.

Remember to take everything into account, trim, features, mileage, colour and get as specific as you can. If there are hundreds of models, get very specific. If there are fewer, get less specific.

You get the idea.

At the end of this, you’ll have an average of values for your exact make and model to use when selling it. Now you’re ready to sell to a dealership or create the ad for the car.

Good luck with the sale!

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Categories: sell your car