How We Value Your Car’s Worth in Lafayette, LA

Our short answer? Kelley Blue Book®. This trusted third-party research company is our source for all car values, but there are several factors that we still take into consideration. Some may overlap with Kelley Blue Book® — in fact, all of them do — but we want to double check these factors below when you bring your car, truck or SUV to one of our many Giles locations to be verified in person. Keep reading to learn how we determine your car’s worth!

Current Market Climate

Think big picture. The overall health of the economy plays a huge role in what customers are willing to pay for a used car. Today’s market is pricing used cars at an extraordinary rate — customers have actually seen a 44% increase between December 2019 - December 2021.* Due to COVID-19 and supply shortages, the price of used cars is at an all time high. You can expect to see this dramatic spike in used car values when you calculate your model’s worth.

Location, Location, Location

Yes, your region plays a part in the value of your current ride. How? Supply and demand will differ from location to location, based on factors like vehicle popularity, regional needs and cost of living. For example, a pickup truck may be worth more in rural Kentucky compared to big cities in California or New York.

Brand, Vehicle Class & Body Style

Brands matter. Some have earned a reputation for reliability or durability, making them more attractive to potential buyers. Others have maintained a historic above-average resale value, and so are priced even higher. Body style popularity is also factored in. SUVs and trucks have risen in popularity — especially those with all-wheel drive — and sedans have lessened.

Mileage & Condition

Mileage is fairly objective — a car with 200,000 miles on the odometer won’t price the same as the same year, make and model with only 50,000 miles. But the condition of your car is more subjective. Some buyers find paint scratches and fabric stains unsuitable, while others can overlook cosmetic wear and tear. But the more the damage, the less your car will be worth. If your model has broken electronic equipment, body damage or mechanical issues, you will see a drop in value.

Maintenance & Accident History

Keeping up with your car’s recommended scheduled maintenance will not only keep your model in good repair, but you’ll keep its depreciation from dipping faster than it normally would. If your car has an accident history and sustained major damage from floods, fire or a serious car accident, it will typically sell for less, even if fully repaired.

Customization

And finally, if you added any customization to your car during ownership, aftermarket vehicle modifications will lower your car’s overall price, especially if you used non-OEM parts to complete the job. You may find a niche audience who appreciates the lift kit, unique paint color or specific sound system that you installed, but modifications typically won’t have the added effect that you’d want. Before pricing your model, we suggest removing any customization from your vehicle, if possible.