How to Calculate What a Car Is Worth

In today's society, vehicles are the second largest purchases Americans make. Vehicles are required to serve numerous purposes aside from simple transportation. Discover what meets your needs, then familiarize yourself with the market values of the vehicles that interest you. Whether you are selling or purchasing, calculating the value of the vehicle of your choice is far more simple than you may think.

Difficulty: Easy

Instructions

1. Determine the year, make and model of the vehicle. These are the three most important pieces of information for determining vehicle value.

2. Find the type of options the vehicle has. Vehicle value depends partly on the type of options packages the vehicle carries. Luxury packages typically increase the value the most, but other packages increase the vehicle value as well.

3. Determine if any after market options have been added to the vehicle. Options such as paint jobs, extra gadgets or features, and wheel rims can also impact the value of a vehicle.

4. Utilize an online vehicle value calculator to determine your vehicle value. Sites for Kelly Blue Book and Edmunds have such tools, as do many online vehicle sales websites.

5. Locate a vehicle values book at the library. The library typically has a section in nonfiction dedicated to vehicle repair, maintenance and general auto information. In this section you can also find books that detail the market values of vehicles during a certain year range. These books are an excellent resource, although your library may not have current editions. Keep in mind that the books also may not allow for after market options.

Resources

• Kelly Blue Book
• Edmunds