Q:

How can you estimate the price of a used vehicle?

A:

Quick Answer

There are a number of different ways to estimate the price of a used vehicle, including using a pricing guide or used car pricing website, asking dealerships how much they would give for the vehicle as a trade in and searching listings to see how much others are asking for their vehicles. Popular vehicle pricing guides include Kelley Blue Book, VMR and the National Automobile Dealers Association.

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Full Answer

Other useful online or printed pricing guides are available from Consumer Reports and Edmunds.com. These pricing guides are normally one of the more accurate ways to determine the value of a used vehicle, as they allow the individual to factor in the vehicle's condition, mileage and any additional options or accessories.

Although asking a dealership about the trade in value of the vehicle can't provide information on how much it is worth in a private party sale, CarsDirect.com notes that the trade in value is normally around $1000 to $1200 less than the vehicle could sell for to a private buyer.

When looking at vehicle listings, it is a good idea to pay attention to similar vehicles listed by private sellers and dealerships. After finding a number of similar listings, it is then possible to average these listings to arrive at a decent estimate of what the vehicle is worth.

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