How to Price Your Used Car to Sell

So, you want to know how much your car is worth. Autotrader’s car valuation tool can help you find the Kelley Blue Book® Value of the vehicle you want to sell and give you a suggested car price. You’ll be on your way to listing your car for sale on Autotrader.

Many factors affect a sales price, including the car’s condition, mileage, and what the market will bear in your area. Fortunately, arriving at a fair price is easy, thanks to internet tools and some basic knowledge about your vehicle.

Step 1: Gather Information About Your Car

The first step is to gather all the necessary information about your car that will affect its value. Take a notepad and jot down the year, make, model, and trim level. Next, note any optional features your car has, such as a leather seating package or rear seat entertainment system.

Consult your original sales paperwork or window sticker to be sure you haven’t missed anything. Optional features can often add a substantial amount to your car’s resale value, so be sure to include them when you calculate.

If you’ve added aftermarket items, such as an upgraded stereo system or different wheels, you can expect to get a little more for the car, but in most cases, you won’t be able to recoup your entire investment.

Note the current mileage on your vehicle. Consult your owner’s manual for the warranties that came with your vehicle to determine if it’s still covered. Your car’s bumper-to-bumper warranty may have expired, but there may still be time or miles left on its powertrain warranty, for example. A vehicle under warranty is more desirable than a car with an expired warranty.

If you purchased an extended warranty through the dealer or a third party, locate that paperwork to determine if it is still in effect, ,its terms, and whether it is transferable. You’ll also need to determine if there is a transfer fee and decide whether you or the buyer will pay it.

Assess the condition of your car. You’ll need this information to rate the car when you obtain your used car price. Conditions such as significant (or multiple) door dings or paint scratches will reduce the car’s value, as will stains or severely worn upholstery.

To help get the highest price, consider getting your vehicle detailed by a professional. You may also want to hire an expert to remove the dings and dents. The small cost can often be worth it to help you sell your car quickly, particularly if the dents are especially noticeable.

Next, review any paperwork you have received from the manufacturer during your ownership. Confirm any recalls have been addressed at the dealership.

Note any extended warranty notices from the manufacturer, such as engine issues that resulted in extending the powertrain warranty. Proof that these things have been taken care of will make your sale easier.

Locate all your receipts and repair orders for the maintenance and repairs completed since you’ve owned the car. If you haven’t kept them, your dealer or independent mechanic should be able to print a statement that summarizes each visit. Having this information will put a new buyer at ease that the car has been well cared for and will help you get a higher sales price.

If your car needs a repair or regular maintenance, consider having that done before putting it on the market. If you choose not to, get a quote for the work and factor the estimate into the selling price.

Step 2: Research Local Used Car Values

Once you’ve gathered all your notes about your car, it’s time to research prices for similar vehicles in your area. Start by obtaining prices through all of the major pricing sites online, such as Autotrader’s Car Values page, Kelley Blue Book, and NADAguides.com.

Ensure your notes are handy, as you’ll need that information to obtain a used car value on each site. You will likely find that the prices vary, because each company uses a different methodology and data to calculate prices.

Autotrader’s Car Values page, for example, uses its classified listings to calculate how many cars are available locally that are similar to the seller’s. At the same time, KBB.com looks at actual consumer sales each year to calculate its prices.

Search online for cars similar to yours for sale in your area, and note the asking prices. Local asking prices are informative, but don’t necessarily represent selling prices. 

Step 3: Determine Your Price

Now that you’ve gathered information about your car and prices for similar vehicles, look at the range of prices you’ve found in your research. Choosing a number within that range is logical, but how do you decide whether to go low, high, or middle? If you don’t own your car outright, call your lender to find the cost to pay off your vehicle. The sale price you choose should consider that.

A good idea is to start in the middle of the range and add or deduct from that point. You might add to the price if your car is in top-notch condition or has very low miles, such as an average of 7,000 miles per year or fewer. (Remember the range you’ve arrived at has taken condition and mileage into consideration already.)

Optional features, a car that is still under warranty, an extended warranty, and proof you’ve completed regular maintenanceF will help you get the higher price in the range. Factor them in when determining your price and also mention them in your ad.

You might also boost the price if you’ve just completed major scheduled maintenance, such as a 60,000-mile service, or if you’ve just purchased a new set of tires or installed new brakes. These are considered part of regular wear and tear, so you’ll only be able to justify adding to them to the price if they are nearly new.

Similarly, you might price your car lower than average if it needs service, tires, or brakes, and you want the buyer to take care of that. You might also drop the price if you need to make a quick sale.

Finally, it’s usually wise to leave some room in your price to negotiate with prospective buyers.

With thorough research and considering all these details, you’re well on your way to an easy and successful sale.

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