What’s My Car Really Worth? How to Determine Your Vehicle’s True Value

Selling your car, or trading it in for another one, may seem complex at first, but it’s actually pretty easy. The best first step is to find out what your vehicle is worth. Simply typing “value my car” into google might bring you to a site like Kelley Blue Book, which is helpful, but using their guidelines won’t help you determine an accurate price for your specific car. The simple truth is that every car is different.

Several factors go into determining a vehicle’s value. Some are logical, like age and mileage, but others, like wear-and-tear, appearance, and demand, are subjective. Sites like Kelley Blue Book can’t accurately consider subjective factors, yet when it comes to accurately valuing your vehicle, the subjective factors are almost more important, especially if you’re selling your car (vs trading it in).

Pre-Owned car buyers want diamonds in the rough. In a side-by-side comparison of the same year, make, and model at the same price and with an equal amount of miles on the odometer, they’ll choose the vehicle that looks the newest. They’ll want the one without a strange odor in the cabin. Buyers look for signs of neglect, and they’ll determine a value based on what they find. How is the value of your car determined? Here’s an overview.

Objective Factors

When valuing your vehicle, start with the facts. Also called objective factors, the facts of your vehicle include the year, make, and model, as well as the odometer reading. These factors are straightforward and easy to assess. Other objective factors aren’t quite as obvious, but they’re equally important. We recommend pulling a CARFAX report for your vehicle. It’s here that you’ll find all the remaining objective data you’ll need to determine a value.

CARFAX reports include detailed information about the vehicle’s history, including any accidents and repairs sustained throughout its life. CARFAX reports also list any issues with the title. For example, if your car had any flood or hail damage requiring extensive repairs, it may have what’s called a salvage title. Salvage title vehicles are considered totaled by an insurance company. As a result, they’re worth far less than similar vehicles with ‘clean’ titles.

Objectively, you can also walk around your vehicle and look for obvious damage. Door dings don’t really count, but bumper damage or large dents will reduce the value of your vehicle. Inside the cabin, if the seats are torn or heavily stained, you can assume your car is on the lower end of the value range. If you’ve tricked out your car with lots of aftermarket equipment, this may also contribute to a lower valuation, depending on whether the changes affected your factory warranty.

Subjective Factors

Merriam-Webster defines ‘subjective’ as “modified or affected by personal views, experience, or background.” A vehicle’s subjective characteristics are perceived differently by each individual. The fact that your car is blue might thrill one buyer and turn off another. These differences make determining your car’s subjective factors a bit of a moving target, but luckily, a few common factors play a big role in perceived value.

First and probably most important is overall appearance. Is the exterior paint dull? Are the wheels full of scratches and rust? Check inside the cabin––are there any unpleasant odors? Has someone tried to mask an odor with an overwhelming air freshener? That first sniff says a lot about how you’ve maintained your car. Also, if the cupholders are full of grit and grime, or the seats are covered in stains, your car is headed for the lower value range.

If you’re trading in your car, the good news is that subjective factors matter much less. Much like seeing past avocado green appliances and shag carpet in a fixer-upper house, dealers can overlook issues like cosmetic damage and odd interior smells. Our team can easily work up an optimal trade-in value based largely on objective data like age and mileage, so taking time to detail your car or repair a few small door dings won’t affect the value.

Other Considerations

One factor that affects value universally is demand. Let’s say gas prices are extremely high, and you’re looking to trade an older large SUV with a not-so-efficient engine. Though large SUVs are always in demand, current consumer demand is more for cars, trucks, and SUVs with decent fuel economy ratings. You might receive less for that older model gas guzzler as a result. Current considerations don’t always impact value, but it’s possible.

On the flip side, if you’re trading in a sought-after model, like a Kia Telluride, chances are you’ll get top dollar because the list of pre-owned Telluride buyers is long and demand is at all-time high levels. Our dealership maintains a list of pre-owned car buyers who are waiting for specific models. If your trade happens to line up with their wish list, it’s an easy transaction where you’ll get a great price and we’ll satisfy a buyer who’s been patiently waiting for their dream vehicle.

Our Allentown Kia team is always on the lookout for good-quality pre-owned vehicles. Every vehicle is someone’s dream car, whether it’s a first-time buyer looking for reliable transportation or a busy family that’s ready to upgrade to a larger SUV. Trading your pre-owned car in or selling it outright to our dealership means you’ll always get top dollar because we have the sales volume and in-house capability to resell that car quickly. Don’t fall for the outdated notion that selling your car privately is the best way to make top dollar.

How to Accurately Value Your Vehicle

Now that we’ve covered all the ins and outs of valuing your vehicle, it’s time to go through the process from start to finish. First, gather your data. You’ll need the year, make, and model, as well as the trim and engine, of your car. You’ll also need the mileage and, if possible, a current CARFAX Vehicle History Report. Together, this data will help you find a baseline value of your vehicle, which you can refine after considering other factors.

Here’s where a tool like Allentown Kia’s online trade-in value calculator comes in handy. Simply plug in the data and reveal your car’s overall value. The number you’re given should serve as a starting point for determining the specific value of your car. We recommend performing a careful inspection next, including walking around the entire exterior and making a note of any damage. Repeat this process on the interior, including the cargo area. Also, check your tires for wear level.

Finally, be honest with yourself about your vehicle. Is it a popular model? Is the color common, or did you opt for an unusual color that won’t have mass appeal? Most buyers prefer neutral paint, like white, black, or silver. One last consideration is your maintenance habits. Did you have your vehicle regularly serviced per the manufacturer’s guidelines? Missing service intervals may negatively impact your car’s value. Be sure to keep all service records in your glove box for quick reference.

Determining your car’s actual value takes a few extra steps, but the process is well worth it for many reasons. First, you’ll walk into the dealership with a clear and accurate range, which will save time and eliminate any potential conflicts. What we mean by that is, we know you love your car. It’s natural to expect top dollar! Our advice is to try to take the emotion out of it. After all, since you’re trading or selling this car, chances are you’re about to fall in love with a new one.