When the time comes to purchase a new vehicle, you’ll want to be sure to get the best value for your current car. Many people choose to have the trade in value of a car assessed before deciding on how to sell their current vehicle. Most times, the trade in value of a car is much less than the used car value listed for that same vehicle. For this reason, it may be better for your budget to sell your car independently and apply the earnings to your new car purchase. You could also choose to assess the trade in value of a car through independent agencies, like Kelly Blue Book, to determine if your dealership is quoting you a reasonable value for your trade.
Finding the Best Trade In Value of a Car
You don’t have to trust your dealership to provide you with an accurate assessment of the trade in value for a car, you can assess the value on your own using some simple online resources. The online resources found on the Kelly Blue Book website are the most popular and are especially helpful. By inputting your vehicle’s make, model, year, mileage, accessories and condition, you can find an accurate determination of your vehicles trade in value and the used car value.
Trade In Value of a Car vs. Used Car Values
The trade in value of a car is the amount of money you should expect to receive when you trade your car in for another vehicle on a dealer’s lot. The used car value is the amount you should expect to receive if you’re selling your car independently. These prices will differ up to a few thousand dollars, and can make a huge difference in your budget. The trade in value is often less than the used car value, which means it may be better to try to sell your car independently.
Kelly Blue Book vs. NADA Blue Book
While the Kelly Blue Book is the most popular method of assessing the trade in value of a car, there are other alternatives that you might want to consult. By using multiple resources, you can ensure that you’re obtaining accurate information regarding the value of your vehicle. The National Automotive Dealers Association (NADA) blue book is also a highly reputable assessment source, which is used by most automotive dealerships. The NADA blue book assesses the trade in value of a car by determining the make, model, year, mileage and accessories, and does not consider the condition of the vehicle in its assessment.
Assessing the trade in value of a car is important in determining the amount of money you can apply to your new car purchase. Often times, the trade in value of a car will be substantially less than the used car value. In this case, making an attempt at selling your car independently is advised.