your car's value -- how to determine?

[Mainebound]

Hello,

I hope this is an ok question to ask here. I know my fellow DISers are very frugal, so I thought I would give it a shot. My mother would like to buy our car from us. Her car was just totaled and our small sedan is too small for our growing family. How do I figure out a fair market value? Obviously, when you are dealing with your mother "fair" is the operative word! I went to the Kelley Blue Book website. Is there any other place?

Thanks!

 

[Steve H.]

Try http://www.edmunds.com/zipcode/usedmatrix/?tid=edmunds.h..used.utmv.1.*

 

[olena]

Kelley Blue Book is another excellent site.

 

[ahutton]

NADA - National Auto Dealers Association also has an online guide with vehicle price information. You can also look for similar vehicles to yours at www.autotrader.com and see what they are listed for.

 

[Poohnatic]

You might also find pricing guidelines on www.cars.com. I find Kelley's extremely helpful.

Suzanne

 

[Mainebound]

Thanks everyone! I tried all of those websites, and they all give me almost the same dollar amount for the value of my car (when sold to a private party -- you get less from a dealer). This is a big help!

--Mainebound

 

[ToyStory Fan]

You say your car is too small, so would you be buying a new (bigger) one to replace it. If so, see if the dealership you would be buying from would be interested in making a quick turnaround on the car.

Basically a tax play to help both you and your mother out at the same time. You trade in the car against any new car you'd be buying, that offsets the sales tax you'd pay on the new car (the trade in price times your sales tax rate). Your mother buys the car immediately from the dealer for a quick $100 more than trade in (or some other pre-negotiated price (as close to trade in as possible). Your mother gets a great deal, and you "effectively" got a higher "street" price for the car because you didn't have to pay as much sales tax (true cash flow) on your new car purchase.

If the dealer isn't willing to play ball (I'd be surprised) tell them that Dealership X in the next town over will do that for you.