What’s Your Used Car Worth?

by Jim Thompson | Last Updated: January 11, 2021

When you go to buy a car, you probably aren’t thinking about selling it! However, if you like to trade-in your cars regularly, or if you like to drive the latest or most efficient models, you will likely end up selling your used car eventually, and considering resale value before you buy is infinitely helpful.

What Is Resale Value and Why Should I Consider It?

Resale value is how much your car will be worth when you sell it. Resale value is affected by the depreciation of the vehicle as it loses value with time and use. Even if you get a great deal on a car initially, if you can’t make a profit when you go to resell it, you’re still losing money.

Tips for Buying a Car with a Good Resale Value:

What Factors Impact Resale Value?

Unfortunately, neither upgraded radios/stereos nor GPS systems will improve resale value!

Can I Improve the Resale Value of My Car?

Absolutely. You can…

How Do I Calculate the Resale Value of My Car?

First, you’ll need to gather information about your car and then research online the selling price of similar cars. Consider your car’s:

Make a list of what cars with similar features to yours are selling for in your area. The average of these numbers is likely a good estimate of the car’s resale value. You can also take advantage of several websites that will estimate your car’s value, such as the Kelley Blue Book, or Autotrader.com.