How to Determine a Car's Trade-In Value

Though you can typically get more money from selling a vehicle yourself than trading in through a dealership, many owners value the convenience of trading in and purchasing in one transaction. To get the most from your car, it is essential to do your homework and determine your vehicle's trade-in value.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Internet access
• Calculator
• Computer
• Used car value publications

1. Locate all of the specs, features and important information about your particular vehicle model. Items including the year, make and model, special packages (such as EX, LX and sports packages) and special options and features may add to your vehicle's value.

2. Access the Internet and utilize some of the many online trade-in value calculators such as Kelley Blue Book and Edmunds.

3. Visit several different car dealerships. Include both those selling the same make and model as your car and those selling other makes and models and ask them to provide you with a trade-in quote.

4. Compare models. Learn all you can about the reliability, fuel economy, warranties, operating costs, theft rates, general features and options of each vehicle you are considering.

5. Compare the various trade-in values from both your online and dealership searches. Add the individual quotes together, and divide by the number of total estimates you have to obtain an average trade-in value for that vehicle.

6. Use the average trade-in value calculated to sell your vehicle for the most money possible.

Tips & Warnings

• Accuracy is best. For the most realistic trade-in values, you need to know everything about your vehicle, both good and bad. Not acknowledging repairs needed, the vehicle's true condition, actual mileage or special features on the car may lead to over or underestimating the value.
• When bringing your car in for a dealer's trade-in estimate, make sure the vehicle is presentable and clean. Fix any flaws and make repairs in advance.
• If the vehicle needs a repair that you're not going to fix before trade-in, deduct the cost of that repair from the estimated trade-in value.