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What Makes Up Car Value

Knowing the value of your car is a key piece of information if you’re considering selling it. There are plenty of resources online to help you figure this out including the valuation tool at Cars.com. But what exactly goes into arriving at the number which represents your car’s value? And, can there be more than one number?

The short answer is there can actually be two completely separate values for your car – the value of your car to a private buyer and the value of your car to a dealership. Cars.com┬ápresents a value range within which you can expect to fall when either trading in or selling your car outright. To use the website’s valuation tool, enter the year of the vehicle, the make and model, the body style, interior and exterior colors, mileage and the zip code of your location.

The condition of your car is also sometimes used to establish its value. Outstanding condition means that the vehicle has aged very well and looks like it practically just left the car lot. Clean condition means that the vehicle is in pretty good shape and will require only minimal work by a private party or dealership to return it to pristine condition. Average condition means that it might need some mechanical work and effort to recondition the exterior to make it look new. Rough condition means that the car will require a lot of work on the interior, exterior and engine to return it to optimal condition. Finally, damaged condition refers to the condition of a car that is not fit for use on the road.

Utilizing this information, the valuation tool will return the value range. It will also break down the range into two other ranges. The higher range will be that which you could expect to sell your vehicle for to a private seller. The lower range is what you might expect a dealership to pay for your vehicle if you choose to trade it in.

Either way you choose to go, you can create an ad on the website too. In no time, private buyers and dealerships alike could be interested in purchasing your vehicle. Competition also ensures you’ll get the best price.

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