5 FAQs on car book value

“If you don’t look back at your car after you park it, you own the wrong car.”

Whoever came up with this quote knew the real worth of his or her car. A car speaks volumes about the owner of the car. It is, hence, vital that you invest in a sweet ride that not only takes you from one place to another but will also reflect your personal style. It can be overwhelming when buying a new or used car or when trying to sell your current car. And it is even more worse if you are buying or selling a car for the first time. This is when the car book value comes into the picture. A fair knowledge about car book value will make your car transaction experience much smoother.

What is a car book value?

• A car book value is a guide, which helps both the sellers and the buyers to determine the worth of any used car.
• Being well acquainted with the car book value helps you negotiate and crack a better car deal.

What factors determine the car book value?

• The price of the used car depends on the original price, its current market value, demand, severity of the damage if any, repair quality, and most importantly, from whom you are buying it.
• Other factors are age of the vehicle, its mileage, and the area where the deal happens.
• Generally, if you buy it directly from the owner than buying from the used car shop, it is cheaper.

What are the different car condition levels in the car book value?

• There is no secret that a well-maintained car will fetch a better price than a rustic car.
• Most of the dealers classify used cars into these common categories: clean, rough, damaged, and in rare cases as outstanding.
• Clean means that the car is in a decent condition and does not need any major fixing. A car can be clean even if it was in an accident or if it is repaired using original factory parts.
• Rough can mean that the car condition is a little bad and it needs fixing.
• Damaged cars are the ones, which need the most repair, and many a times, they might not even be fixable. Remember that damaged cars have low market value as very few would buy a damaged car.
• When it comes to outstanding cars, only rare classics, well-preserved cars which are in high demand, and cars not produced anymore, fall in this category.

How to find the car book value?

• If you feel that the dealer in the used car shop is not giving you a fair deal, you can always do your own research to know the market value of your car or the car you want to buy.
• Today, many online websites have a comprehensive calculator, where all you need to do is feed your car model, price, location, and other such car details, and it gives you a detailed information on the current car market value.
• Sites like Kelley Blue Book, VMR, and the National Automobile Dealers Association are popular sites for finding the best car book value.

What rules of a car book value should you keep in mind if you are selling your car?

• Have a realistic expectation
• Know what other sellers are asking
• Know what customers are willing to pay

Knowing about the car book value works helps you know exactly what car transaction you are signing up for. If you are new to the car book value, you can always have a word with a friend who is a car fanatic. And if you don’t have one, simply visit few used car shops and have a chat with the owners. We are sure they would be happy to help you.