If you've got an eye on your next used vehicle, knowing its value is an important part of the purchasing process. This helps you determine if the seller is asking too much or too little for the vehicle, which can lead to questions you might ask about the car's condition. Similarly, if you're thinking of selling your own used car, knowing its value can help you set a fair price. Kelley Blue Book is a well-known and trusted source of car values. You can quickly determine a car's value on the company's website for free.
Step 1: Visit the Kelley Blue Book Website.
Once you navigate to the Kelley Blue Book website, click the "Check My Car's Value" button.
Step 2: Enter Basic Vehicle Information
Enter the year, make , model and estimated mileage of the vehicle.
Step 3: Select the Body Style and Vehicle Features
After you enter the basic information for the vehicle, you'll enter more information about its body style and options. If you're not sure what options the vehicle has, click the button that says "See value with standard equipment." This provides a value based on stock or standard equipment, without optional upgrades.
Step 4: Note the Reason for the Value
The value of the vehicle differs depending on what the value is needed for. You can choose between a "Trade-In" value or a "Private Party" value. Trade-in values are lower because it is assumed the car is being traded or sold to a dealer. A dealer needs to obtain a vehicle for a lower amount so it can still turn a profit when the car is re-sold. Private party values reflect a higher but more accurate fair market value for the car. Private party values are also good if you don't plan on working with a dealer and just want a general idea of how much the car is worth.
Step 5: Select a Description of the Car's Condition
It goes without saying that a car in excellent condition has a higher value than the same car in inferior condition. Kelley Blue Book provides values for cars ranging from "excellent" to "fair" condition. Most used cars have a "good" condition rating. The website provides examples of each condition rating to help folks determine which condition fits the vehicle best.
Step 6: View the Value
After you select the car's condition, its value is presented to you. Along with the value listed, you'll see an interactive graphic that lets you see alternative values, based on other possible conditions of the vehicle.