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Whether you are in the market for buying or selling a car or are just curious about how much your vehicle is worth, it's helpful to understand how to calculate car value. It may take a little research to find an accurate price, but there are multiple online resources that can do the math for you and come up with a reasonable estimate of your car's worth. Bankrate's expert insurance editorial team created this guide so you know what factors go into determining that worth and can take the necessary steps to find your car's value.

You likely need to know the resale value of a car when you are in the market for buying or selling a vehicle, or if you are filing an insurance claim on a car that was totaled in an accident. The resale value, as the name suggests, is simply the amount that the vehicle can be sold for, after taking depreciation into account.

To find the resale value, there are websites, such as the Kelley Blue Book site, that can provide an instant free quote of your car's value after you input key data on its make and model, age, condition and features. Subscribing to the Kelley Blue Book site allows you to keep track of the depreciation rate of your vehicle and calculate the value of a car. You can also review the prices advertised in local newspapers and other publications to get a sense of resale value.

The value of your car depends upon several factors. Calculating the resale value can be a process, in which case being deliberate about each step can help along the way.

Before attempting to calculate your car's value, you will want to gather several facts about your vehicle. You should understand the car's history and the factors that have contributed to its depreciation since its purchase. The key information generally required includes:

Car value pricing guides are now everywhere on the internet and are relatively easy to use. They typically prompt you to pinpoint the factors mentioned above, which can help you determine the right value of your car. Here are three of the most popular car value estimator sites:

There will undoubtedly be some variation in the values generated by each of these three sites and others due to each guide using a slightly different process of comparing data. These variations should not be significant, but make comparing values from several sites a useful step in ensuring you have the best information.

Using estimator sites can be helpful in determining your car's value, but there may be other factors to consider. Here are a few of the conditions that are likely to play a role in determining resale value:

To help take these characteristics into account, it may be useful to review prices for similar vehicles in local newspapers or market publications. Online sites like Autotrader.com can also help. You may need to estimate your car's value if you are unable to find a similar vehicle nearby, based on your understanding of the cost of any upgrades or other factors.

When buying or selling a car, it is beneficial to know as much as you can about the terms and phrases used. Arming yourself with knowledge of your vehicle as well as the industry as a whole, can help put you on an equal footing. Here are some terms and definitions frequently used in the market that may be worth knowing.