What's my car worth? (2024)

You can remember how much you shelled out for your car all those years ago – even if you can’t quite remember what year it is anymore – but how much could you hope to get for it today?

By the time you’ve finished this article, hopefully you’ll have a pretty good idea.

The easiest way to know your car’s worth is pretend you’re shopping to buy the exact same vehicle. Go to online classifieds sites and simply search for your car. You’ll get a rough idea of the value range – upper, and lower.

The used car market is rapidly changing, with new car stock becoming more readily available and used car prices going down by the week, however the basics still apply.

If you want to sell your car, click here and receive a price quickly.

Your car will be worth the average of what is available. Note that just because Joe Bloggs has advertised his Holden ute for $50,000 – when the rest of them are more like $35,000 – doesn’t mean yours is worth that. It just means Mr Bloggs is thinking wishfully. Or that he might not be actively looking to sell at all.

Some sellers like to leave a baited hook in the water at all times –in case they get a bite for their optimistic price.

Note that it might be tricky to get a sense of the extreme lower end of the value range, because those vehicles sell the quickest.

Another method – if your car is comprehensively insured – is to call your insurance company and simply ask. Note that insurance companies are incentivised to slightly under-value your car.

You could also use third-party tools like this website here. Simply go the showroom of the vehicle you are intending to sell, scroll down to the bottom and find the year of your model and it will give you a rough estimate of what it’s worth based on recent sales.

Alternatively, If you want to sell your car, click here and receive a price quickly.

You could also get a formal valuation, but this costs money and isn’t strictly necessary – unless you have absolutely no idea what you’re doing, something this article hopes to solve.

Knowing the value of your car is the first step towards pricing it for sale.

Variables that affect vehicle resale value

Make and model.

It’s an unfortunate reality that some brands – and even models – hold their value better than others. You may have saved money up-front buying that Holden Captiva over the Toyota RAV4 five years ago, but now that it’s time to sell it, it’s probably best you don’t compare used car values as they stand today. Unless you want to weep.

Type of car.

Selling a dual-cab ute or a mid-sized SUV in Australia? You’re in a good place. It’s common sense that if you’re selling the type of vehicle that’s most popular in Australia, you’re going to have an easier time.

Kilometres

The lower the kilometres, the better. The average Australian does about 13,000km per year, so if your car is five years old and has around 65,000km, that’s about right.

If you’re thinking of selling your car and it’s approaching the 100,000km mark, seriously consider moving it on before it gets to that point. A car with 92,000km will be slightly easier to sell than one with 102,000km.

That said, there are vehicles where mileage doesn’t matter as much – 200,000km is low for an older Toyota LandCruiser. And there are circumstances where higher mileage isn’t as much an issue – like if the car has spent most of its life commuting between, say, Sydney and Canberra. (Highway miles are considered less taxing than city ones.)

Separate to all that, service history is more important anyway.

Location

Unless it’s a very rare vehicle, it’s much easier to sell your car in a major urban centre than it is a small, remote country town simply because one might have four million people, the other 5000. There are exceptions –a farm ute would be easier to sell in a rural area.

Service history

In theory, a car with 150,000km with a full service history should be worth more than one with 75,000km and no service history.

A full service history – meaning, you’ve had it maintained at the intervals recommended by the manufacturer, by an authorised service centre – does amazing things for your car’s resale.

Remaining warranty and fixed-price service agreement

If you bought your car brand new and it came with a seven-year warranty – and you’re selling after four years –the remaining term is very attractive to buyers. This also applies to any remaining capped-price services that came with the car brand new.

Condition

It pays to look after your car. If it’s in great condition inside and out, with no damage or blemishes, naturally it’ll be worth more.

Transmission

Australians are lazy, and so automatics hold their value better than manuals. Unless it’s a sports car, and even then some models might be considered more desirable as an automatic than a manual, like a PDK-equipped Porsche.

Colour and trim

Conservative colours such as white and grey hold their value better than bright, lurid ones like, say, fluro green. A silver car will simply appeal to more people than a coloured one. That’s why you see so many white and silver cars on the road.

The same applies to interiors –you might have loved the leopard-print-and-flames seat trim when you first bought the car, but sadly very few others do.

Again, there’s a reason most opt for a black trim: it has the broadest appeal come resale time. The opposite can be true for sports cars where bright colours might be more valued than dull ones.

Optional extras and aftermarket accessories

If you optioned the sunroof when you bought the car brand new, highlight this in any advertisement as it means you can price the car slightly higher.

The same applies if you’re moving on your Hilux and it has an expensive, quality bull-bar fitted with a brand-name LED light-bar –or any other aftermarket accessory a new owner might want to fit (that you paid for, brand new).

Note that if it’s a sports car you’re selling, often you’re better selling any aftermarket additions separately and refitting the stock items (like wheels or an exhaust).

Registration

Did you just put 12 months rego on the car? Include it in the price (and definitely the ad). Sometimes it pays to add a bit more rego as it increases the perception of value.

NSW, Victoria, SA, ACT and Tasmania offer three-month rego; while WA, Queensland and the NT offer one-month rego. It’s certainly better than no rego –unregistered cars are worth much less than registered ones.

Serviceable items

If you just shelled out for four new tyres, a new clutch, new brakes and new windscreen wipers – or just paid for a major service – it will push up the value of the car.

Roadworthy documentation

In Victoria, a car must be sold with a Roadworthy Certificate (RWC) – but that can be arranged by either the seller or the buyer. If you’re the seller and aren’t supplying the car with a RWC, it’s worth less as the buyer is taking on the risk of possible mechanical repairs with an unregistered vehicle.

It’s a similar story in Queensland and the ACT (if the car is over six years old). No other state or territory requires proof of roadworthiness in order to process a private sale.

If you’re in Victoria, Queensland or the ACT, it’s strongly encouraged to get your roadworthy documentation in place before selling –and provide it when selling the car. Note that in Victoria, a RWC is only valid for 30 days. In Queensland, the equivalent ‘safety certificate’ is valid for two months or 2000km, whichever comes first.

Crash history

If your car was once written off but repaired, it’s worth much less than a car that’s never been in a crash, even if it was put back together better than it was originally built brand new.

People are scared off by crash repairs as there are so many dodgy smash repairers rushing jobs out the door – and not repairing the car properly.

Number of owners

The fewer owners, the better. If you’ve owned your car for 20 years since new, and you’ve been the only owner, your car is worth more than if it had an unknown amount of owners.

Smoking

If you’ve smoked in the car –and you can smell it – the car is worth slightly less. Plus, smoking wrecks your health and costs a fortune, so you shouldn’t be doing it anyway. Listen to your mum.

If you want to sell your car, click here and receive a price quickly.

What's my car worth? (2024)

FAQs

How do I find out the total value of my car? ›

Simply enter your VIN or license plate into the Carfax History-Based Value look-up tool to get the Carfax Value on your car, truck or SUV. Our unique VIN-specific value report considers reported accidents or damage, number of owners and the car's service history.

What is the best website to get the value of your car? ›

And today there's no better place to find the value of your current car than KBB.com. Whether you're trading in your car, selling it privately, or taking advantage of the Kelley Blue Book ® Instant Cash Offer, we're here for you.

How do you calculate the net worth of a car? ›

The definition of net worth is " the total wealth of an individual, company, or household, taking account of all financial assets and liabilities" Your car is an asset minus any loans (liabilities).

Is Kelley Blue Book still accurate? ›

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.

What is the black book value? ›

The Black Book value is essentially the wholesale or auction value of a car. Black Book sources pricing data from both wholesale auctions and actual vehicle transactions from across the country.

What is the formula for calculating the value of a car? ›

To use this formula: Estimate the salvage value of the vehicle, which is the amount you expect it to be worth at the end of its useful life, as well as the useful life of the vehicle in years. Subtract the salvage value from the purchase price. Divide the figure from Step 2 by the estimated useful life of the vehicle.

Who gives the most value for your car? ›

The best place to sell your car online for good value is Cars.com based on our research. We also recommend looking at Carvana, Peddle, CarMax, Copart, CarGurus, Vroom, AutoNation, and Facebook Marketplace when considering selling a used vehicle.

Is nada better than KBB? ›

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions. Insights can be gained from both values, but KBB looks at more factors.

How do I find the best price for my car? ›

How to Negotiate the Best Car Price
  1. Be Prepared.
  2. Arm Yourself With Information.
  3. Get Your Financing First.
  4. Find the Deals.
  5. Head to the Dealership.
  6. Get Your Timing Right.
  7. Shop at Multiple Car Dealers.
  8. Remember It's a Business Transaction.

How do you calculate the net price of a car? ›

Net cost of buying

This is the total cost of buying your vehicle. This is calculated as: + Total up front costs (down payment + other fees) + Lost interest.

How to find out what something is worth for free? ›

Try sites such as What's It Worth to You, Value My Stuff, and Worth Point. If you're searching for the tax-deductible value of items that have been donated, you can use valuation sites, tax preparation companies (such as Turbo Tax) or the Salvation Army.

What is the easiest way to calculate net worth? ›

Start with what you own: cash, retirement accounts, investment accounts, cars, real estate and anything else that you could sell for cash. Then subtract what you owe: credit card debt, student loans, mortgages, auto loans and anything else you owe money on. Then boom—you've got your net worth.

How accurate is NADA value? ›

NADA prices are considered very reliable when determining a retail price for a used car due to the data collection, long publication history, monthly updates, and respect the NADA has in the automotive industry.

What is a NADA value? ›

NADA stands for the National Automobile Dealers Association, which is a trade organization that represents all franchised new-car dealers. NADA publishes the Official Used Car Guide, which provides used car values for dealers across the United States.

What is the most reliable used car value site? ›

The Kelley Blue Book—and its equally popular website—is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars.

How do you calculate the actual cash value of a car? ›

Actual cash value (ACV)

It is determined by the replacement cost of your vehicle minus depreciation, which considers things like age and wear and tear. Most insurance policies cover the actual cash value of your car in the event of a claim and will use a third party to determine the ACV of your vehicle.

How do I find out the loan value of my car? ›

The loan-to-value ratio is the amount of your loan divided by the vehicle's actual cash value. Lenders use this formula when deciding whether to lend you money for a car or vehicle. When shopping for a car or vehicle, the loan-to-value (LTV) is one factor that lenders use to evaluate your loan application.

What is the formula for totaling a car? ›

It works like this: If the total cost of repairs plus the salvage value of the vehicle is greater than the vehicle's actual cash value, it's considered a total loss. In mathematical terms, a vehicle is a total loss if Cost of Repairs + Salvage Value ≥ Actual Cash Value.

How do I find the residual value of my car? ›

Residual value is determined by multiplying the MSRP by the estimated depreciation value. (For example if your car is originally valued at $20,000 and the depreciation is 50%, then the residual value would be $10,000.) At the end of the lease, the residual value of the car would be $10,000.

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