Q&A for How to Determine the Fair Market Value of a Vehicle

You can find older versions of Kelly and Edmund's estimator books and go from there.

As a general rule, the statute or regulation will cite a specific book (such as the "Kelly Blue Book") for purpose of an objective baseline.

Always check the CarFax. If you had the work done, it will automatically get reported to the vehicle's car fax.

Markets have a lot of foods that they raise the money on. If the food that you buy at a market is expensive but it is of poor quality, then that is not a fair price and you do not buy it again but instead go somewhere else to buy it.

It depends a lot on the condition of the car, the mileage, maintenance done, the quality level of the paint job, and the brand/condition of the 30-inch wheels. Classic Chevys have been selling for more than they usual lately, so you could get over $30k.

There are many online websites that are able to help you do this. Kelly Blue Book is a popular website that asks you questions about your car and its condition and then gives you an estimate of its value.

Dealers typically add a markup of 10% to 20% above the private party value. They may also invest in reconditioning, increasing the price further. If the vehicle is Certified Pre-Owned, expect to pay an additional $1,000 to $3,000.

To determine the fair market value of a vehicle, use online vehicle valuation tools, review classifieds and dealer listings for historical prices, check vehicle history reports, consider regional factors, and contact a dealership.

You can use Kelley Blue Book to look up the fair market value of your car for previous years.

A dealership-installed new engine can positively impact the fair market value by enhancing reliability and longevity, as it is often considered a significant upgrade. However, the overall effect also depends on factors like the car's age, make, model, and the warranty provided with the new engine. While a new engine can be a selling point, its impact on value varies based on the broader context of the vehicle's condition and market demand.

You may not find the exact value for a specific date, but by searching old vehicle price guides, you can estimate the value based on the year the guide was released.

According to Kelley Blue Book, a 2010 Nissan X-Trail in good condition with 150,000 miles is valued at approximately $4,202.

Keep the invoice from the shop that replaced the engine, as it will have the VIN number and vehicle mileage at the time of repair. This document can help you prove the new engine's mileage by subtracting the current miles from the mileage at the time of the repair. If you replaced the engine yourself, keep the receipt from the new engine and record the date and vehicle mileage when you installed it.