![]() How do I determine my car’s mechanical condition, and therefore worth? Whilst your car may look great, and you think it drives well, it’s value will really come down to it’s condition how it runs mechanically, and whether it’s in need of significant repair or reconditioning. What’s the downside? Fees and paperwork, finding the right auction, no room for negotiation on value. What’s the upside? Convenience, timeliness and a potential larger pool of buyers If you were looking to sell a restored 1966 Ford Mustang, you could expect a higher valuation at a classic car auction because your car is targeting the right audience a market looking to purchase classic cars. There are several types of auctions available for public car sales, such as classic / specialised car auctions, and more general public auctions and selecting the right type of auction will ensure a better $ value for your car. Auctions are a quick and trouble-free way of selling, however there is no guarantee of sale (if no one reaches your reserve), and car values tend to be lower at auction.Ĭar values at auction are lower because they are a wholesale marketplace, there are fees involved (typically a % of sale price), and auctions invite a particular kind of buyer. Selling your vehicle via auction can also alter the value and worth of your vehicle. To determine your car’s condition and quality, go to KBB’s Car Condition Quiz, The KBB 5-point condition and quality distinction for cars will give you a good idea of how to determine the worth of your car in the marketplace, based on its condition. KBB gives immediate online car valuations that are determined by the 1) make, model and mileage, 2) trim features, 3) method of sale (trade-in/dealership, or private), and 4) condition (a 5-point condition scale is used here, from excellent through to poor). ![]() These ranges are not location specific however, and value can be determined by location (see Edmunds for area specific data). The end result, a pretty comprehensive and well-researched representation of the current car sales in the national marketplace. These valuations come from national data analysis, including car sale trends, economic conditions, and developments within the industry, from diverse sources. The KBB provides valuations based on extensive market research regarding trends in the US marketplace. ![]()
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