Q:

How do you determine the value of your used car?

A:

Quick Answer

The fair market value of a used car can be determined by using an online valuation tool from a used car expert, such as Kelly Blue Book or Edmunds.com. Internet auction sites, such as eBay, are also useful for determining relative values for rare or uncommon used cars as well.

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Full Answer

The Kelly Blue Book website features a section on the main page that directly links to its proprietary used car valuation tool, as of March 2015. To use this tool, the user needs to enter some starting general information about the vehicle for which she wants the price, such as the year in which it was manufactured, its make, its model and its total mileage.

After this information is entered, the user is taken through a guided process in which she must choose more specific details to narrow down the exact version of the vehicle. If the user is unsure about whether or not her car has a particular option, the site provides visual examples and descriptions to aid in the selection process. Once all options are entered, the tool displays the expected price range for the vehicle in the entered condition, with options to go back and alter any responses if needed.

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