Q:

How do you find the current value of a truck?

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Quick Answer

Find the current value of a truck by checking its price through an online valuation tool on sites such as KBB.com, Edmunds.com or NADAguides.com, as of 2015. These tools take into account the condition and options on the truck, along with its age, to determine price. It is also possible to use online auction sites to gauge actual sale prices.

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Full Answer

While an online vehicle pricing tool uses its own formulas to determine price, each relies on factual information about the truck to compare it to current market trends and pricing. For example, the Kelley Blue Book valuation tool begins by asking for the make, model and year of the truck to establish a baseline for standard depreciation rates. Then, it prompts you to enter more specific details about the truck, such as its mileage, the presence of any optional features and its general condition. You also need to provide your ZIP code so that the tool may factor in local demand and availability to determine its price.

Another option is to check online listings for the same make, model and year of truck to see current selling prices. Specifically, eBay.com allows you to view past successful transactions, which means you are able to see what buyers actually paid for the trucks. It is best to compare these values to the price guide estimations to determine the appropriate median price point.

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