The car value estimator uses vehicle sales and pricing data from the National Automobile Dealers Association, or NADA. Your car’s NADAguides value is an estimate based on actual dealership sales, auction transactions and private party listings.

Keep in mind that this price is only a guideline and the final value depends on your car’s age, mileage, condition and its options and features. You can also compare the NADA value to pricing information on other car value sites like Kelley Blue Book and Edmunds.

Trade-in car value: Car shoppers often undervalue their car’s trade-in value because they’re excited about buying a new car. Don’t leave money on the table. Knowing your car’s trade-in value makes you a better negotiator and could be the biggest source of savings on your car deal.

Car value for private-party resale: Finding your private party sale price will help you get more money for your used car. With an estimate of your car’s resale value, you can set your asking price a little higher to test the market. Once you have a potential buyer, you can negotiate down to an agreeable price.

Car value for refinancing: Knowing the current market value of your car is essential to the auto loan refinancing process. Comparing your car’s value to the balance of your loan will show you how much equity you have and whether it makes sense to refinance. Additionally, your car’s value is one of the factors that will determine your car loan refinancing rate.

Car value for insurance: Knowing your car’s value helps you manage your auto insurance policy. You’ll need it when you file a claim to ensure you receive all you’re entitled to. And to save on premiums, you might remove collision and comprehensive coverage once your car’s value is close to the deductibles — the limit of these coverages is your car’s market value minus the deductible.

Car value for donation/tax purposes. When you donate your car to charity, your car's value can help you calculate the tax deduction. If you’re on the fence about donating versus selling, knowing your car's value can tip the scales. Keep in mind that selling your car gives you money now; donating might save you money next tax season.

Your loan payment isn't your only monthly car cost. Add in insurance premiums, gas and maintenance or repair costs to see how much you're really spending. We’ll show you a breakdown of your total expenses and the portion of your income that goes toward your car each month — and what you should target for your car budget.

When you want to save on car-related expenses, it's smart to look first at the big-ticket items: your car payment and your insurance premiums. There are other costs, of course, but these two often make up the bulk of one's total monthly out-of-pocket automotive expenses. To find the biggest savings, consider refinancing your car loan or shopping for lower car insurance rates.