How To Price A Car
Automotive appraisal guides will tell you how to price a car. These guides take into account the type of car, the location and the condition of the vehicle in determining the price of the car. In the old days, you would need a book to do this, but now you can go online and price a car at any number of websites for free.
Things you'll need:
- Computer with internet access
- Choose an online automotive appraisal guide. There are many to choose from, including well known websites such as Kelley Blue Book, NADA Price Guide and Edmunds Used Car Guide.
- Go to an automotive appraisal guide website to search for the price of the car you are interested in. Enter the year, make and model of the vehicle and the options/features that the car has or that you want the car to have.
Provide the website with the necessary information for it to accurately price a car. The website will ask how many miles are on the car; this is an important factor of the price. Some automotive appraisal websites ask for the zip code where you expect to purchase or sell the car, which will result in a more accurate price.
- Enter whether you are looking for the trade-in value, a private transaction price or a dealer's price. The difference is you are likely to get a trade-in value towards another car if you trade in your old vehicle at the dealer. A dealer's price (also called retail price) is what the dealer is then going to turn around and sell that car for once it is vacuumed out. The private transaction price is most likely the one you want and that will tell you what a private buyer would pay for a car from a private seller.
Be honest and realistic about the condition the car is in. Only say the car is in "excellent" condition if there are no mechanical problems and the outside and interior are gorgeous. To rate a car "good," make sure it has no major defects and a clean title. A "fair" rating is warranted if there is rust on the exterior or if smaller problems need to be addressed, but the car should still be running. Finally, "poor" is the appropriate rating when there are major mechanical issues or a title defect.
- Click through once you have entered all of this information to retrieve the price for the car. Keep this price in mind as you start your negotiations to buy or sell a new vehicle. If you are selling your vehicle, you will want to put the listing price a little lower than the car's value if a quick turnaround is important to you.