Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
How Can I Determine the Value of My Used Car?
Dave from Virginia asks: “Do KBB (Kelley Blue Book) or Edmunds used car prices reflect the current used car market? If not, how can I determine the value of my used car?”
Clark’s Take on How To Figure What Your Used Vehicle Is Worth
Clark says: “I’m feeling like KBB and Edmunds have had trouble keeping up with the distorted used vehicle market right now. It’s not as distorted as it was earlier this year, but the used car market is still in a bit of a mess.”
“The easiest way for you to find out if the KBB or Edmunds values are accurate is go online and get a used value quote from Carvana,” Clark says.
Go to Carvana.com/sell-my-car to fill in information about your vehicle including:
- Make and model
- VIN or license plate #
- mileage
- color
- Vehicle features
“It will give you an instant quote of what they’ll buy your vehicle for, for a seven-day window and that will be a pretty good indicator of what the average trade-in would be for your vehicle,” Clark says.
If you want to sell, Clark says you should also go to a local dealer that sells the same brand as your used car. “They will make an offer to you,” he says, and then you take the better of the two offers.
Here’s how Clark made thousands of dollars selling his used car.
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