We’re always looking for new ways to empower car owners to make the best possible decisions for their vehicles and lives. There are plenty of car valuation apps and platforms out there, but they aren’t always as data-driven as car owners would like. Introducing: Carvana Value Tracker.
Carvana Value Tracker analyzes automotive trends and transactions in your area, plus a whole lot of information about your vehicle, to give you a consistently updated value for your car. Even better, you get updates (as often as you want them) so you can track just how much your car depreciates (or even better, appreciates) in value as time goes on. Let’s talk about it!
How Does Carvana Value Tracker Work?
We wanted to make tracking your car’s value easy! To use Carvana Value Tracker:
- Visit the landing page.
- You’ll be asked to input details about your vehicle, like its mileage, repairs done for major body damage, condition, and more.
- Once that’s done, you can select how often you want to receive emails about your vehicle’s value.
That’s about all there is to it!
Why Should I Use Carvana Value Tracker?
Having a real, fair value for your vehicle makes it easier to sell or trade-in your car – but that’s not all. Let’s take an in-depth look at some of the reasons to use Carvana Value Tracker.
Learn What Impacts Your Car’s Value – & Why
We use a lot of data points to determine your car’s value. Model, make, year, trim, mileage, color, major damage repairs, interior and exterior condition, modifications – if it’s part of your car, we’re factoring it in to give you a competitive value for your car.
You can also use Carvana Value Tracker to help understand what depreciates your car’s value. For example, the first time you use Carvana Value Tracker, you can fill out your vehicle details as if it were new. Get a value, then go back and edit your vehicle details with any modifying factors you want – minor scrapes and scratches, accident repairs, etc. If the value is different, you’ll get a good idea of just how much we think that wear and tear could impact its worth. That information can be handy if you want to make a list of things to avoid doing with your current or next car, or just keep tabs on how your vehicle’s value performs under your car.
Get a Fair Price When You Sell or Trade In Your Car
If you want to sell or trade in your car, it can be difficult to know if you’re getting your money’s worth. Carvana Value Tracker analyzes internal data we have about automotive trends and transactions in your area so you know what our data indicates is a competitive value for your vehicle.
As a result, it’s easy to know when you’re offered less than a competitive value for your vehicle. Carvana Value Tracker also gives you the leverage you need to negotiate and get equitable compensation for your vehicle.
Negotiate Better Insurance Premiums
Your car’s value directly affects your insurance premiums, among a wide range of other factors. As cars depreciate and get older, the cost of comprehensive and collision coverage tends to drop. If you’ve had your car for a while, there’s a good chance its value has changed – meaning you may have an opportunity to renegotiate for lower rates on your premium if your insurer’s not dropping it automatically. If you know what your insurer thinks your car is worth (typically given as an “Actual Cash Value” in the policy), and it appears they’ve overvalued it when contrasted with the value from Carvana Value Tracker, you could have an opportunity to renegotiate your car insurance premiums.
When Can I Renegotiate My Car Insurance Premium?
Premiums can be more flexible than people often assume. You may have the opportunity to negotiate if:
- It’s policy renewal time;
- You experience a major life event, like getting married, moving to a new state, retiring, or adding someone else to your policy;
- You get in an accident or file a claim;
- You complete a defensive driving course or driver education program;
- You find a better offer elsewhere and want to try and renegotiate before moving where the grass seems greener.
If any of the above apply to you, it’s worth reaching out to your insurance provider and seeing if they’ll be willing to renegotiate your premium.
Make Financial Planning Easier
Understanding how your assets depreciate or appreciate over time gives you more control over your financial future. Need some money in the near term? Keep track of how your car’s value is fluctuating and choose the best moment to sell, or watch as your car appreciates and factor that into your net worth.
You can also keep track of how exterior or interior damage affects your car’s value and use that knowledge to plan car maintenance.
Carvana Value Tracker sends you consistent updates (at a frequency of your choice) so you can stay up to speed with your car’s value. Even if you don’t want to sell or trade-in, it’s a great way to track how much a high-value asset (your car) is worth so you can always feel confident in whatever decisions you need to make about your vehicle.
Is Carvana Value Tracker Reliable?
We developed the Carvana Value Tracker tool to create values as competitive and real as we possibly could by using true automotive sales and trends. We know that some car value apps and platforms may undervalue cars – we wanted to avoid that when we developed Carvana Value Tracker.
We don’t need you to sell or trade-in your car with us. Carvana Value Tracker is a tool that should empower you to make the best decisions for your financial future — if that means you use our tool to find someone who will pay more for your vehicle than us, great (although Carvana Value Tracker does make selling to us easier if your choose to)! We’re just happy you got a great deal and were able to make the best choice for you. It’s all about driving you happy.
Carvana Value Tracker can significantly enhance your car-owning experience. We hope you’ll enjoy and use it as much as we do.
