Publish Date - December 31, 2018
Author: Dale Peterson
Used Car Pricing
Pricing Your Used Car
Whether you have decided to sell your car or buy a "new" used car, you may be wondering how to go about pricing your used car. A couple of simple steps can guide you to pricing a used car realistically.
Step One to Pricing Your Used Car
When pricing a used car, assess the condition of the car. Examine the exterior and rate the body, the paint, and the trim. Looks for rust, dents, dings and hail damage. Check out the windows, the lights and lenses for cracks and chips.
Now rate the interior for imperfections such as tears in the carpet, upholstery and panels. Are instruments and accessories working? Is there any smoke damage or odor?
Then dig deeper, rating the engine for any damage or problems. Once you have objectively looked at all these conditions, you'll be able to price your used car.
Your Second Step to Competitive Used Car Pricing
So you've got a feeling for the car's condition, now see if you know what the car is worth. Compare your price to the "blue book value".
"Blue book value," means the cost or worth of an automobile. The most well known resource, also responsible for coining the phrase "blue book", is Kelley Blue Book (KBB). KBB is one of the most recognized and respected guides referred to by people who actually buy cars, whether they are consumers or dealers. KBB is online and easily accessible from myAutoloan.com. These guides can help when pricing your used car or to verify the value of the used car you wish to buy.
Know the Market When Pricing a Used Car
Perhaps your car is in demand. Used Sedans, SUVs, trucks and vans are pretty popular these days. The age of your vehicle is also key to pricing. Check for popularity of vehicles by looking at cars for sale online. These sites will give you a good feel on pricing and availability on used cars in your area.
A Fair Price for a Used Car
If your price is close to or lower than blue book, you can feel fairly confident that your car is priced accurately.
If you're selling a used car, pricing your vehicle at blue book or lower will most likely guarantee a quick sell.
Remember, if you are going to buy a new or used car to replace the one you just sold, you'll want to apply for a loan in advance. MyAutoloan.com can help with various loans from lenders online. Knowing how much you have to spend can be a great tool when it is time to negotiate.