What Is My Car Worth?
These tools can help you estimate your car’s value.
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TABLE OF CONTENTS
How much your car is worth depends on its make and model, condition, history and how you plan on selling it. Our test shows that car values can vary widely depending on where you get the estimate.
Understanding types of car values
How much your car is worth depends in part on how you’re selling it, if you’re trading it in and who’s paying for it. There are four general types of car values.
Trade-in value: Sometimes called the wholesale price, this is the value a dealer will give you if you buy another car from the dealer. It is usually the lowest amount a dealership will offer, though you might score some sales tax savings by doing a trade-in.
Private party resale value: This is the amount you'll likely get for selling your car to anyone other than a dealer. This value is often more than the trade-in value but less than the retail value. If you advertised and sold your car yourself, this is about what you should expect to get after negotiations.
Dealer retail value: This is what the dealer might resell your car for. It’s typically higher than the trade-in or the private party price
Certified pre-owned value: This the value of used cars that are inspected and sold along with a bumper-to-bumper warranty. Certified pre-owned cars often command a higher price.
Estimates are potential values. A price isn’t a sure thing unless it’s stated as an offer.
How to check the value of your car
Pricing guides and online retailers both can help you find how much your car is worth. We recommend that you compare estimates and offers from more than one source. This will help you understand your car's value so you can better decide what you want to do with it.
Pricing guides
Pricing guides tell you how much your car is worth based on the information you provide about its age, mileage, condition and features. These sites usually don’t directly buy cars. Some of the major players include:
Edmunds, which is owned by Carmax.
Kelley Blue Book, which is owned by AutoTrader (which is owned by Cox Automotive).
The National Automobile Dealers Association (NADA) Official Used Car Guide, which is owned by J.D. Power.
Car and Driver, which is owned by Hearst Magazines, which also owns Black Book.
Consumer Reports, which is a nonprofit that publishes the flagship Consumer Reports magazine.
Online retailers
CarMax, AutoNation, Carvana and similar companies buy and sell cars online. Instead of driving to a dealership and talking with a salesperson, you enter data about your car and receive an actual offer.
However, keep in mind that most online retailers will need to inspect your vehicle to ensure the information you provided is accurate. They may lower their offer if the car's condition is not as described. Online offers are often non-negotiable.
Some online retailers will show you an offer and compare it to a pricing guide’s estimated value range, which might make the offer look sweet. Keep in mind that pricing guides and online retailers might describe car conditions differently, so the two values may not be comparable. Do your own research to evaluate the comparison.
» MORE: How to sell your car
How to find the value of your car
You’ll typically need the following information to find out what your car is worth
Year, make and model. You may need to supply the trim level, which you can find in your owners manual or by looking at the chrome letters affixed to the back of the car.
Vehicle identification number (VIN) and license plate number. The VIN number is usually on the driver’s side of the dashboard near the windshield and inside the driver’s side door near the hinge.
Color and optional equipment. Some sites ask you to review a list of features and indicate which ones your car has or doesn’t have..
Vehicle condition. Sites use varying terms to describe the condition of vehicles. Read the description of each condition level carefully and be honest. Unless the car is showroom fresh, it is unlikely to be "outstanding," for example.
Mileage. The higher the mileage, the less your car may be worth. The average driver puts about 14,000 miles per year on their car.
What is the most accurate website for car value?
We tested eight car value sites to see how different the estimates were. Here's what we learned:
Not all providers ask the same questions. For example, some didn't ask whether the car had specific features, others didn't ask about accidents.
About half the providers required us to provide the car's VIN or the license plate number.
Car and Driver, Carvana and CarMax required us to provide an email address in order to see the estimated value of what the car was worth.
The providers use different data sources in their algorithms. Most characterize their data as proprietary, though Consumer Reports and Car and Driver use data from Black Book. Edmunds and Carvana use data from CarMax in addition to their proprietary data.