How do I find the value of my used car?

There are two websites that can help you determine a fair value for your car: ​kbb.com and Edmunds.com. Both will tell you the car’s trade-in worth, its private sale value and how much the dealer could expect to sell it for. That last price really demonstrates the absolute highest value you expect to get for the car.

Is fair market value the same as KBB?

The Fair Market Range reflects the range of prices that Kelley Blue Book estimates most people will pay for a specific vehicle this week based on its year, make, model and style.

Should you pay more than Blue Book value for a car?

So no, it is not normal to pay only $1000 to $3000 over blue-book or trade-in value. It is normal to pay more than that, because dealers won’t sell their trade-ins for such a low markup.

What depreciates the value of a car?

Car depreciation is the difference between how much your car was worth when you bought it and what it’s worth when you sell it. The value of your car goes down over time with the wear and tear of everyday use. So, the more you drive your car, the faster your car’s value will drop (or depreciate).

How reliable is KBB?

The Kelley Blue Book—and its equally popular website—is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. Kelley assesses the following values: private party value, trade-in value, suggested retail value, and certified pre-owned (CPO) value.

Will dealership give me KBB value?

Dealerships have to make a profit, so you cannot expect to get a fair Kelley Blue Book price. Even if you do get a fair price on a trade in, you will lose that money on the other side of the deal.

Which is better Edmunds or KBB?

Many experts believe Edmunds’ values are more accurate than KBB’s. NADA pricing is often higher than Kelley Blue Book since the algorithm has a standard that calls for all trade-ins to be in very clean condition.

Will dealers trade in value for KBB?

Does CarMax pay more than KBB?

KBB Estimate. CarMax appraisals consider many of the same factors as Kelley Blue Book’s personalized estimates, but CarMax does not use KBB to determine the value of a vehicle. This is why your CarMax offer may be lower or higher than the KBB value.