Knowing about resale value is important for many new or used car owners. For a car that is bought new, a car depreciation calendar can be helpful. For cars that the owner previously bought used, resale values can be a little different. The resale value of a car is based on what a buyer will pay for it on the used auto market.
Resale Value Tools
A number of online sites offer tools and resources for pricing any used car for resale. One of the most common is the Kelley blue book site (www.kbb.com) where drivers can get accurate resale values for almost any vehicle on the American road. Another good car valuation site is the one you're on, CarsDirect, where Web users can find a wealth of information about overall vehicle value.
Using Resale Value Estimating Tools
Some of these guides include more than one resale value for a vehicle. What a car owner is usually looking for is a "private party" resale value. This figure is the amount that a seller might expect to get for a car when they sell it directly through a newspaper or Internet ad. Other kinds of used car resale value estimates include a "suggested retail price" which is what a dealer might charge for a used vehicle on a lot. Drivers can also find out about a trade in value, to see what amount they might get from a dealer if they swap their current ride for a newer model.
Car and truck owners who take advantage of some of these easy resale value tools can benefit from knowing what their road-worthy assets are really worth.