How Do You Determine the Value of an Older Used Car?


Quick Answer

Use one of the commonly accepted used car evaluation companies, such as Kelley Blue Book or Edmunds.com, to find the value of an older used car. Both of these companies offer online tools that provide an idea of the value after you answer just a few questions.

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How Do You Determine the Value of an Older Used Car?
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Full Answer

Begin by entering the year, make, model and mileage on the car that you want to value. Choose the matching body style, whether it's a coupe, station wagon or sedan. Then enter the correct trim edition for the car. If you're not sure about this item, the website offers you some images for comparison.

Next, enter information about the different features that customize the car. These include the transmission, entertainment options, power steering, drivetrain, engine and comfort options such as power windows and cruise control. Indicate such extras as a sunroof, leather seating and premium wheels, and indicate the color of the car to get the final valuation.

Finally, choose whether you're wanting a value that you would get on a trade-in at a dealership or through selling the car to a private party. You can expect a higher value with a private party sale because the dealer turns around and tries to sell the car at a profit, but you can compensate for that by getting a deal on the new car that you buy.

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