To identify cars that hold their value, compare prices of similar models over time using tools like and market value guides. You can also check lease deals to see a model's residual value—the price the dealership sets for the car at the end of its lease. Choosing a vehicle with strong resale value can save you money in the long run, whether you're trading it in or selling it privatelyHow does previous accident damage affect a car’s value?If a car has been in an accident and subsequently repaired, it is likely to be worth less than a similar car that’s never been in an accident, even if repairs restore it to its pre-accident condition. The extent of the difference in value depends on factors like the type of damage and market demand. Major accidents or frame damage usually cause the biggest drops in value, and an accident history can make buyers hesitant, reducing a car’s resale or trade-in value.How do banks and insurance companies determine a car’s value?Banks and insurance companies estimate a car’s value by looking at its make, model, year, mileage, and condition. They also consider market trends. Resources like CarGurus, Kelley Blue Book, and NADA guides help them understand the market, while vehicle history reports (e.g., CARFAX) help them to check for accidents and maintenance records. For insurance claims, adjusters assess the car’s value based on its condition right before the accident. They may also inspect the car to evaluate damage and wear before finalizing their estimate.How do I figure out my car's residual value?Your car's residual value is its worth at the end of a lease. To estimate it, start with the car’s Manufacturer's Suggested Retail Price (MSRP) and apply the expected depreciation rate over the lease term. For example, if a car has an MSRP of $30,000 and depreciates by 50% over three years, its residual value at the end of the lease would be $15,000. Residual values are typically set by the leasing company using historical data and market trends. Other factors such as mileage, condition, and market demand also influence residual values. To get an estimate, use third party resources like CarGurus or review lease deals for similar models. This can help you determine whether the buyout price at the end of the lease is a good deal compared to its market value.Which site provides the most accurate car values?No single site has the "most accurate" car values. Since each platform uses different methods and data sources, estimates will vary. For example, Kelley Blue Book collects weekly data from wholesalers, dealers, and private sales. CARFAX looks at vehicle history data, including details like past accidents and service records, to determine valuations. CarGurus calculates Instant Market Value (IMV) daily by analyzing over a million vehicle listings, providing a current and detailed view of the retail market in your area.How accurate are NADA values?NADA (National Automobile Dealers Association), now owned by J.D. Power, calculates its vehicle values using data from dealership sales, auctions, car manufacturers, and other industry sources. These values generally assume vehicles are in good condition and may not fully account for factors such as specific mileage, condition, or regional market trends. While NADA values serve as a useful starting point, they might not always reflect the precise market value of a specific vehicle. For a more accurate estimate, consider consulting multiple valuation resources, such as CarGurus Instant Market Value (IMV) or Kelley Blue Book.How accurate are CARFAX values?CARFAX provides vehicle valuations through its History-Based Value tool, which uses data from over 100,000 sources, including state DMVs, insurance companies, and auto auctions. This tool considers a vehicle's unique history—such as reported accidents, service records, and previous ownership—to estimate its market value. While CARFAX valuations offer a personalized estimate based on a vehicle's specific history, they may not account for current market conditions, regional demand, or unreported incidents. For a comprehensive assessment, it's advisable to consult multiple valuation sources, like CarGurus Instant Market Value (IMV) and Kelley Blue Book.Sellers resourcesView allBuyer resourcesView all, Learn how to get the most money when trading in your car. Enter your Year, Make, Model and Trimline. Provide the mileage, vehicle condition and any additional options your car is equipped with., Get your car's value in real-time from Kelley Blue Book, the most trusted resource on the planet for used car value. Get Blue Book resale value, trade-in value, or even a cash offer.