Easterns Blog

Parting with a car that’s been with you through thick and thin can be difficult. Knowing its value, and how much its sale might offset the cost of upgrading to a better vehicle, could make the idea of selling it a bit more palatable.

There are a few online tools available that can give you an estimate of your car’s value. You’ll just need to enter specifics about your vehicle (mileage, age, etc.) and information about its condition.

If you want a fast, honest and accurate assessment of your vehicle’s worth, contact Easterns Automotive. Our team can give you a quick and fair trade-in valuation.

Now is a great time to sell. You might discover your trade in covers a large portion of the down payment for a used car, truck or SUV.

Three Online Estimator Tools for Used Cars

There are a variety of tools that allow you to get a rough estimate on your car’s valuation. However, the estimates you’ll get from these calculators are not guarantees or offers. You’ll still need to find someone (or a dealership) willing to pay that amount. Also beware of “free” estimators that collect your contact information to sell it or target you with future robocalls and spam emails.

1. Kelley Blue Book (KBB) is one of the most popular online estimators on the market. It asks for details about your car (i.e., model, make, year, condition, etc.) and bases its estimate on the information you provide.
2. Edmunds is a competitor to KBB. Their claim to fame is coining the concept of “true market value.” They use more in-depth criteria (i.e., cosmetic damages, car accident history, etc.) to determine the worth of a used car. Their calculator uses real-world dealership transactions to show you the average price paid for used cars near you.
3. NADA guides, created by the National Automobile Dealer’s Association (NADA), are very similar to KBB and Edmunds. The difference is they focus on a vehicle’s wholesale price, current market price and the demand for cars for sale near you.

What Information Will You Need to Get a Proper Used Car Estimate?

In order to get an approximate estimate for your used car, you will need to provide relevant information and specs about your vehicle, as well as details about its condition.

Have the following information on hand before you get started:

• The year, make and model of your vehicle (this information can be found in the owner’s manual)
• The vehicle’s color and features/upgrades (i.e., leather upholstery, heated seats, sunroof, custom sound system, etc.)
• The condition of the vehicle (it’s best to be honest about the condition to avoid overestimating)
• The vehicle’s mileage (this can be found by reading the odometer on the dashboard)

How Do You Interpret the Estimate Once You Get It?

Once you’ve inputted the necessary information into the online estimator tool, they usually provide a few separate measures of your vehicle’s valuation.

• Trade-in value is what a dealership might give you for your vehicle if you trade it in. It’s usually the lowest price you will be offered for your car, but there are potential tax savings if you decide to go this route. You might also avoid additional seller fees or repair hassles, as dealerships like Easterns will usually take your trade in as is.
• Private resale value is the estimated amount you would likely get for your vehicle if you sold it directly to a private party. This would be your car’s listing price on any resale marketplace. Read our blog about private sales (and the risks you’ll face) for more information.
• Dealer resale value is the estimated price the dealer will list the vehicle for after you sell it to them. It’s often higher than the trade-in or private resale value. The higher price is due to the time and money the dealer will need to spend on inspecting, repairing and cleaning the vehicle to prepare it for resale.
• Certified pre-owned value is what a dealer would list the vehicle for after a professional inspection and an included limited warranty. This is typically higher than the dealer resale or trade-in value.

Selling Your Car in Washington D.C. or Baltimore

Take your time collecting and comparing your vehicle’s estimates before deciding which route you’d prefer.

When you’re ready to sell your used car in Washington D.C. or Baltimore, get in touch with Easterns Automotive. We offer a quick and convenient process for selling or trading in your vehicle. Our auto group also has an expansive inventory of pre-owned vehicles to choose from if you’re looking to make a trade in.

Give Easterns a call at 877-867-0641 or visit one of our eight dealerships today for more information.