The Anatomy of a Car’s Value

2003 Volkswagen Jetta GL:  So according to KBB.com  the Good Trade in Value is $1700 and Fair is $1125 so maybe I am around $1500.  Now private party says $3225 and Fair is $2525, let’s keep being reasonable and say $2875 as private party we won’t use retail because this car is not in excellent condition.

How about Edmunds?  A little different process here comes up with $2734 as a trade in $3752 as a private party, same thing here retail seems a bit high.

So KBB average with my adjustments is $2187.50 and Edmunds is $3243  that is about a $1000 difference.

What’s my car worth?

It is your means to get around town, to work, to play to kids activities.  it is worth a lot to you but what is it worth to an insurance company?  The cost to repair a car is going up so if your car is older you need to keep in mind that if the cost to repair your car is more than the value of the car it may not get fixed.  Now what is the car actually worth in dollars?  It may not be as much as you want.