How to Calculate the Value of a Car

1.

Gather the necessary information on the vehicle, including the year, make and model, as well as the mileage.

2.

Click on the Kelly's Blue Book link found in the "Resources" section of this article. A web page should appear.

3.

Locate the section labeled "used cars" on the new web page. Within this section, click on the words "year, make and model" beside the phrase "search by."

4.

Select the vehicle's year, make and model from the drop-down menus provided on the screen. After the information is entered, click "go."

5.

Choose what type of estimate you want. The three options to choose from are: trade in value, private party value and suggested retail value. The descriptions of each are described in detail beside the choices.

6.

Enter the remaining details regarding the vehicle. You will need to enter the zip code in which you are located, the mileage on the vehicle, as well as a few other model specific details. Once the information is entered, click "continue."

7.

Select whether the vehicle's condition is excellent, good, fair or poor from the options provided. Click "continue." The vehicle's value will automatically be displayed.

Tips and Warnings

  • This method can be used for vehicles other than cars such as trucks or vans.
  • Knowing how to calculate the value of your car allows you to determine a reasonable asking price if you are interested in selling your vehicle. It also helps you make more informed buying decisions if you are looking for a new car. Given the ease with which this calculation can be done, there is no excuse not to have this essential skill.