Things You'll Need:
- Newspaper classified auto ads and car trader magazines
- internet access
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Step 1
Find like make and models that are up for sale by individuals. Use classified ads and auto trade magazines to get a general idea. Compare these to the price dealerships are asking for your same make and model. Naturally, they are in the business of making a profit but you can get a better idea of just how much profit they are looking to take in from cars similar to yours. Of course, you can only get a rough idea using this method because there are many variables. A car exactly like yours with significantly higher miles, mechanical issues or poor body condition will not be a fair reflection of what you can expect.
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Step 2
Remember that the N.A.D.A. Guides are excellent for determining resale value of a car. Their guides are specific to classic cars, used cars and older used cars. These guides include a great deal of information, including trade-in, M.S.R.P., loan and retail prices. These pocket guides are especially handy to have when you're on a car lot considering a trade deal. The guides can also be purchased from their online website.
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Step 3
Know that many would argue that the definitive voice on auto resale values is Kelley Blue Book. Certainly a company that celebrated its 80th anniversary in 2006 can argue quality as proof of longevity. Their website states that one out of every three people who buy a car (new or used) in the United States visits their website. At one time they charged for their online services, but today their services are free. Many dealerships refer to Kelley Blue Book in calculating their own appraisals.
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Step 4
Think about using Edmunds.com. It offers online appraisals at TMV (True Market Value). You can see the variations between trade-in, private party, and dealer retail. This doesn't go into too many specifics about each make and model but the information is a very valid resource for finding a good assessment of your car's resale value.
