CarMax Offers Information on How Your Car's Value is Determined

If you are considering trading in your current vehicle, either for something newer or more fuel efficient, CarMax, Inc. (NYSE: KMX) the nation's largest retailer of used cars, has information on how your car's value is determined. CarMax's nationwide team of car buyers has tips on how to get the most for your car when it comes time to sell it or trade it in.

"When evaluating a car's value, there are four major factors taken into account - mileage, current market data, the condition of the vehicle and how well it has been maintained," said David Claeys, purchasing manager, Richmond, Virginia. "Current marketplace conditions, including the effects of seasonal shifts in demand or changes in the economy, can impact the trade-in value of a vehicle. While you can't alter current economic conditions, a good rule of thumb for consumers wanting to maximize the value of their vehicle is to simply take good care of it."

CarMax's car buying teams offer the following 10 tips to get the most out of your vehicle's value:

1. Stick to the vehicle's regular maintenance schedule - and keep all records/documentation of maintenance performed.
2. Target a reasonable amount of mileage per year on your car. Where possible, avoid driving more than 10,000 to 12,000 miles per year.
3. Keep the interior and exterior clean. Don't neglect the carpet, floor mats or headliner.
4. Don't smoke in your car. Smoking narrows the resale market for a vehicle since it is difficult to remove the smoke smell.
5. Avoid eating in your car. Food and drink may damage the interior by leaving stains or unwanted odors.
6. Repair scratches and dents in a timely manner - if left alone, they may lead to rust or other expensive damage.
7. Ensure all major mechanical systems are in good working order. Make any needed major repairs before attempting to sell your vehicle.
8. Avoid customizing your car. Adding after-market accessories can often lower the market value for your car by narrowing its appeal.
9. Don't paint or detail your car with wild colors. Non-standard colors may lower the vehicle's value.
10. Drive carefully to avoid accidents. Serious accidents that compromise the structural integrity of your car will significantly reduce its market value.

"An appraisal is a great way for a car owner to get a sense of the current value of their vehicle," Claeys said. "Before selling your car, you should visit a retailer like CarMax that will provide a free appraisal and make an offer for the vehicle based on its wholesale market value without requiring a purchase."