Value Your Trade

How to Value Your Trade

Take note that no tool will be right 100 percent of the time, so it is best to use multiple sources to get a complete picture. Here are two good tools to start with. 

  • Edmunds True Market Value (TMV): The Edmunds tool uses information from a variety of sources to give you a good idea of your car trade-in value. A history of sales, depreciation, vehicle age, make, model, and features all figure into the equation. Five categories are used to describe the condition of the car: outstanding, clean, average, rough, and damaged. When all of the information is entered, the TMV tool generates three or four values: trade-in, certified used, dealer retail, and private party.
  • Kelley Blue Book Value (KBB): Kelley Blue Book has been around for more than 90 years with a solid reputation for reliability. KBB gives you a Trade-In Range good for the week you are looking at trading at a dealership. You also get a Private Party Value, so you know what to expect if you decide to try to sell your car to an individual. KBB uses historical transactions, auction results, and seasonally adjusted analyses. With more than 100 geographical regions and weekly updates, KBB provides a thorough and complete view of the market for your vehicle.

To Value Your Trade, Do Your Research

Before you hit the lots to find your new ride, remember that he who has the most information wins when it comes to car deals. When you know what to expect from your trade-in, you go in more prepared to negotiate effectively. Visit us at Planet Dodge to find your new or used Dodge or Chrysler in Miami today!