5 Minute Vehicle Appraisal

Your trade is probably the most negotiating leverage you have when you go to buy a car. Most car deals are made or broken from the value of your trade, so knowing what your car is worth is the most important thing you should know before you head to buy your new car.  A lot of people get into heated arguments over their trade from what they think it's worth to what it's actually worth. This five minute appraisal will get you on the same page as the dealer.

1. Carfax

Buy a Carfax. Buying a Carfax can eliminate any unexpected deductions on your vehicle's value. When you are looking at the Carfax make sure you check to see how many owners  your vehicle has had because the lower the better.  Check for accidents reported to Carfax because if there is an accident your vehicle  it could lose 10 to 20% of it's book value.  Check to see what state the vehicle has been titled or lived throughout its life because if the vehicle has lived in snowy areas there could be a serious rust problem from the salt used on the road. Most important to look through the service records on the vehicle, this could give the dealer a real clear picture of how the car has been taken care of or if there is a consistent problem that has not been addressed. The ultimate Carfax is if you have a vehicle that is a one-owner  with no accident reported and a southern car with a lot a proven services records can demand all the money.

2. Automobile book value evaluation

The vehicle value sites that are commonly used are Kelly Blue Book,  N.A.D.A, Edmunds, and dealerships also used  Manheim Market Report. Make sure to take your time and click all of the options for the vehicle. When you are finished  booking your vehicle use at least three book sites so you can average them together because some books evaluate different style vehicles differently than the others. Remember these books are just a guide, but a guide that dealerships live by.

3. The Vehicles Condition

Be honest  when you are evaluating the condition of the vehicle. Start with the exterior of your vehicle, is there any scratches, dings, dents, or rust showing through the paint. How is the paint on your vehicle? Have you ever had the vehicle painted or has any body work been done on your car because the professional appraiser will see it.

Now for the interior, check for stains in the carpet or on the upholstery. Look for cigarette burns in the upholstery or the smell of cigarettes because that is the biggest turn off for the appraiser. Cigarette smell can never be really be removed without a ton of money and effort and still it will still linger.

Test drive the vehicle. Now does your vehicle start and run perfect? People can over look a little dirt if the car runs great, has new tires, and drives down the road perfect. Does your vehicle have new tires or are they wore out? Tires are very important because they are usually the most expensive reconditioning cost associated with bring the car back to perfect for re-sale. Is there any indicator lights such as a check engine light, an ABS light, brake light, or an airbag light? When an appraiser sees one of those lights they assume the worst possible repair cost.

What's the car worth?

First, take the average value from all three value sites. The averaged value is the value of an average vehicle. What would make your vehicle not average? By having new tires, an oil change, spotless inside and out, a non-smoker, and a clean one-owner Carfax. Second, minus for the condition of the vehicle if there is any negatives to your vehicle like dings, dent, broken windshield, etc. or add 10% for perfect condition. Finally, minus 20% if there is an accident on your vehicle or ad 10% for a perfect one-owner Carfax. Carfax also has a add formula under the number of  service records.    I hope this helps you on your next car buying adventure.