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Determining your vehicle's value: How to decide whether to sell privately or to a dealership

by Deborah L. Robinson

Created on: November 07, 2008   Last Updated: November 16, 2008

Getting rid of your used vehicle can seem like a daunting and formidable task. The very first thing you must do is figure out how much the car is worth. Determining the value of your vehicle is a whole lot easier than you may think, as there are numerous resources available to help you with this. I will present you with several options below and suggest that you try more than one. The more information you gather concerning possible values for your car, the more confident you will feel in deciding on a price you are comfortable with. This confidence will come in handy when actually discussing the sale of your car with potential buyers. After you have made not of the make, model, year, mileage and features (air, power windows, etc.) of your vehicle, you're ready to dive right in!




Call your bank or insurance company and ask for a representative that can tell you how much your car is worth. Most financial institutions and insurance companies offer their members this service. A simple phone call will get you a quick assessment for the value of your car.




The National Automobile Dealers Association has published car value guide since 1933. The NADA book is pocket-book sized and can be conveniently picked up at your local grocery store. NADA also has a user friendly website that you can use at http://www.nadaguides.com




In addition to the NADA site, the internet is loaded with online used car guides. A Google search will put them easily at your fingertips.




After obtaining the value of your car using these resources, it's a good idea to find out what your type of vehicle is actually selling for. You can do this by checking your local classified and dealer ads, as well as car sales websites like the very popular http://www.autotrader.com .




Now, we're almost there but there's one more thing to do to get a good value assessment. The next step is for you to complete a thorough, objective inspection of your car. This may require the help of a friend since it can be difficult to readily see flaws and deterioration in a vehicle we have driven for the last four or five years not to mention, love can be blind. For this reason you might want to have a trusted pal to give you an honest assessment of the condition of the vehicle body and interior. That cigarette burn in the seat may have become insignificant to you over time but an interested buyer may find it quite significant. Have your friend help you assess the wear and tear on the cushions and floorboard, and any deep-seated

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