How to Appraise Your Car by Using Kelley Blue Book
July 16, 2012
“What is my 2005 Dodge Ram worth? How much can I get for my 2008 Jeep Cherokee?” These are often questions you ask yourself before purchasing a new vehicle. But how do you know a dealership is offering you a fair price for your trade? Before visiting a dealership it’s a good idea to get a current “trade-in” value for your vehicle.
While there are several choices online you can use to gather this information, I recommend using Kelley Blue Book (www.kbb.com). Their trade-in tool information is updated weekly, so you can feel reasonably confident that the value you are provided is current to your market. However, it’s important to note that this an estimate based on the equipment and condition you assign to your vehicle.
- Go to www.kbb.com
- Find the “Car Values” tab
- Click on “What’s my current car worth?”
- Enter the year, make, model and mileage into the drop down text boxes and click “next.” The page will direct you to a pop-up window and ask for your zip code. Once this is completed and saved, you can then choose the options specific to your vehicle (4-cylinder vs. 6-cylinder, power doors, leather, and sun roof for both the interior and exterior of your vehicle).
- Once you have entered all the available options to choose from, you have the preference of either a trade-in value or an estimate to privately sell. KBB offers four separate values depending on the vehicles condition; Excellent, Very Good, Good and Fair.
To determine the condition of the vehicle, some things an appraiser will look for includes but are not limited to: dents, scratches, signs of repair or previous damage. Items such as these and normal wear-and-tear lessen the condition rating.
Now that you’ve received a market valuation for the trade-in and retail value of your vehicle – it’s time to start looking for your next car! I would recommend visiting www.performanceauto.com or one of the 15 Performance dealerships to allow one of our certified appraisers take a peek at your car and test drive a new vehicle at the same time.
Trading your car into a dealer has several advantages:
- You only have to pay taxes on the difference rather than the full amount of the new vehicle.
- It saves time since you won’t have to show your car to numerous interested parties.
- Dealership handles all paperwork.
- If you trade in car to dealer, the dealer assumes all liability for the car.
Keep in mind, the values shown are an approximation and are subject to change depending on the condition of your vehicle. Find us on Facebook, Twitter and check out www.performanceauto.com to view thousands of local vehicles or visit our convenient store locations.