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How Do I Determine How Much My Car Is Worth?

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Tips from NADAguides.com

The first thing you need to do is pretend you don’t own this car any longer and take an objective look. This may be difficult to do since we are all passionate about the cars we own, but is essential in arriving at a realistic value.  Second, take a moment to check the current price of your vehicle at www.NADAguides.com , it provides you a great starting point and will help us learn what our car is actually worth at that particular moment in time.

The market changes and so do the values right along with it. What is popular or trendy today may change and add or deduct value but one thing is for sure, in the long run collector cars retain their value and for the most part they appreciate. So let’s step back and take a real close look at this car. What condition is it really in? The exterior; paint, glass, chrome, stainless trim etc. The interior; upholstery, door panels, carpet, headliner, radio, heater, dash, rear shelf, window rubber or seals, etc. and does everything work properly?

Now the drive train – is this car mechanically sound? Does the engine start and run smoothly; does she start, accelerate and stop as she should? Now we need to look at the documentation that supports the authenticity of this car. Day one documentation definitely adds value. The owners-manual, build sheet and any history including maintenance records is a plus. These are a few of the factors we take into consideration when appraising a car.

Now we look at our immediate market. How many cars just like this one are for sale in this area? Take about a 100 mile radius and learn what the competition is, its supply and demand. If you happen to own one of the few around it could bring a few more dollars , alternatively, if you own just one of many that are available of the similar type and style it will make it more competitive and the value of your car may be less. Ultimately, you need to do some homework to get an accurate price for your car.    

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