5 Questions To Ask When Determining Your Junk Car Value

Are you ready to sell your junk car but not sure how much you should expect to get for it? Determining your junk car value can be a difficult task as there are many factors to consider. However, knowing the value of your junk car is one of the most important factors you need to know no matter how you sell it.

If you’re not sure where to start that’s why we’re here. We’ve got all the information you need to figure out the value of your junk car. Just start by asking yourself the following questions:

How do I find the fair market value of my car?

When evaluating your car’s value it is important to know the different types of values that cars can have. The value depends on how and where you sell your car, and a few other factors. Your car may have only one of these values, or you may compare all of them to determine your junk car value.

• Retail value

  This is the value you can expect to pay when purchasing from a dealership. It gives you an idea of what you can get for your car, but not an exact estimate. Dealers usually price their cars higher than what they are actually worth to compensate for costs associated with making the car market ready. In this case, your car value will most likely be lower than the retail value.

• Trade-in value

  This is the amount you can expect to get from a dealership when trading it in. This is usually the lowest of all values, as the dealership offers a low amount to make a bigger profit. This value is only worth noting when trading it in and you can sometimes negotiate for more.

• Private party value

  This is the value established when you are selling your car yourself. It is usually based on the book value, provided by sites such as Kelly Blue Book, CarGuru, and Edmunds. This value is typically a few thousand dollars more than the trade-in value and fluctuates depending on the other factors we will cover below.

What car facts impact car value?

Information such as accident history and odometer reading are important to the buyer as it gives insight to the current wear and tear on the vehicle. Having this information shows the overall condition of the car, determining how much lifespan the buyer can expect from it.

Accident history will show any damages related to accidents even after repairs, which can cause the value to fluctuate. Along with damages, car maintenance frequency is important as well. The value increases when you’ve provided your car with routine maintenance such as oil changes, tire rotations and inspections. However, if there have been many skipped oil changes, the overall condition of the vehicle decrease, as well as the value.

The odometer reading shows how much you have driven the car which impacts the condition of it. The higher the reading, the more wear and tear it usually has. However, it also depends on where most of your miles were driven. If you drove on the highway a lot there won’t be as much wear and tear, causing the value to go up. Stopping and starting frequently, such as from driving in the city, is what causes the most corrosion to your car.

How to determine the condition of my junk car?

To evaluate the condition of your junk car check the interior and exterior of the vehicle. Most junk cars have an exterior that looks bad, but don’t let that convince you that the interior is in poor condition as well.

Sometimes the car parts will be in great condition meaning you could sell your junk car for parts. If you don’t know the condition of your car parts take it to a mechanic and have them give you a professional opinion.

Aside from car parts, when evaluating the interior there are certain factors to consider. Have you smoked in the car? Do you have pets that have frequently been in the car? Is there any damage to the seats or other parts of the interior? If the answer is yes to any other these, there may be significant deterioration to the inside of your vehicle.

How does location impact car value?

One factor that most forget to consider is the location of your junk car. It’s important because if your junk car isn’t running you’ll have to have it towed. A lot of companies offer towing but it may cause the value to decrease slightly to cover the cost of towing.

How does vehicle type impact car value?

Lastly, the make, model, and year of your car help determine your junk cars value. Compare your vehicle to other vehicles of the same type on site such as Craigslist to see what they are selling for. It’ll give you an idea of when to price your car at.

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Sell Your Car Today

There is a lot of research to be done when determining the value of your junk car. While you can get estimates for your vehicle at sites such as Kelly Blue Book, it is especially important for a junk car to do further research yourself.

Does researching the value of your junk car sound like a lot of work? If you don’t have the time to do the research or just don’t want to there is another option.

1-800-Cash-For-Junk-Cars is the fastest, easiest way to sell your junk car for cash. We buy junk cars in any condition and can usually give you cash for your car in as little as 24 hours. Give us a call at 1-888-416-2220 or fill out this form to see how easy it is to sell your car today!

With over 35 years of experience, our certified car buyers are sure to give you an offer you will love. Once you accept the offer we schedule a time to pick up your vehicle that is convenient for you, and pay you at the time of pickup. It really is that simple.