Unless you’ve been hiding under a rock the past couple of years, it’s hard to escape how expensive used vehicles have become. It’s bad news for shoppers but a great opportunity for sellers. For some, the question of “How much is a 2013 Hyundai Elantra worth?” is an important query. Perhaps you’ve simply grown bored with this compact sedan. Or, you’re working from home now, and there’s no need for the car. And still, the higher costs of fuel and maintenance are more reasons to jettison this ride. Whatever the motivation, there are easy ways to determine the value of this Hyundai.
We’ll start by using CoPilot’s Hidden Profit Calculator and then look at similar valuation tools to see how each stacks up. Let’s check out the car’s pricing, based on a 2013 Hyundai Elantra sedan and other factors. But before digging into specific numbers, there are numerous elements of the vehicle valuation formula to understand.
What Affects How Much a 2013 Hyundai Elantra Is Worth?
Each online valuation tool uses unique algorithms to determine a car’s worth. But all platforms look at the same overall information, including:
Model Year: In general, the newer the vehicle, the greater the value. So, a 2013 Elantra is worth more than a 2010 model (assuming things like the condition are the same). Certain older cars outside the mainstream (collectibles and classics, for example) are valued differently.
Make/Model: Like model year, a vehicle’s make (the manufacturer’s name) and model are fundamental components for determining value. It all ties into the car’s MSRP (manufacturer’s suggested retail price). So a 2013 BMW 3-Series will have a higher original selling price than a 2013 Hyundai Elantra.
Trim: Most car models have different versions called trims, each with a succession of additional equipment (and higher prices). The base 2013 Elantra sedan is the GLS, while the top trim is the Limited.
Body Style: Manufacturers build cars in various forms, including sedans, coupes, hatchbacks, pickups, SUVs/crossovers, convertibles, vans, and wagons. In 2013, Hyundai made the Elantra as a sedan, coupe, and five-door hatchback (the Elantra GT).
Powertrain: Engine, transmission, and drive-type (two or four wheels) can impact a car’s value, but it’s less of an issue with the 2013 Elantra sedan (all are front-wheel drive with just one engine offering).
Mileage: It goes without saying that the more a car is used, the less it’s worth. This is determined by the number of miles on the odometer.
Condition: Cars are best when they are shiny and blemish-free. So the cleaner the condition, the higher a vehicle’s value. Things like an accident or a salvage title cause significant devaluation as well.
Location: Where a car is located can significantly influence its worth. Compact cars like the Elantra are more sought after in urban areas with tighter spaces and higher fuel prices.
Demand: Sometimes tied into location, specific vehicle types or features are more called for in the marketplace. Fuel-efficient cars like the Elantra are seeing a resurgence in response to record prices at the pump.
OTHER CAR SHOPPING APPS ARE OUTDATED
You won’t realize how outdated other car searching apps are until you try the CoPilot car shopping app. CoPilot does the hard work for you by searching all of the listings in your area and intelligently creating a personalized list of the best buys in the area that match what you’re looking for.
A Look at the Numbers. How Much Is a 2013 Hyundai Elantra Worth?
It’s time to explore how much a 2013 Hyundai Elantra is worth. We’ll use CoPilot’s Hidden Profit Calculator and research the value of a GLS sedan with 110,000 miles in the Chicago area (60601 zip code). For simplicity, we’ll assume there’s no accident or adverse history and that the car is free of exterior or interior damage; it’s a clean vehicle. The tires and other major components are in good shape, too.
Based on this, a 2013 Elantra GLS sedan is worth $9,115. That’s an impressive number considering the car had a sticker price of about $17,500 when new. Another look at the results from CoPilot’s Hidden Profit Calculator also shows that the vehicle has a “Pre-Covid Forecast value” of $5,113. In other words, had it not been for the effects of the pandemic and a tight-supply car market, this Hyundai would be worth about 45% less at regular times.
8 QUESTIONS TO ASK WHEN BUYING A USED CAR
So you’re in the market for a used vehicle? We’ve gone ahead and prepped some essential questions to ask when buying a used car.
Mileage Affects Value
Using the same Elantra example, let’s discover what happens to the car’s value with fewer miles.
Curious how higher mileage causes values to drop? Here are some illustrations.
It’s easy to see that mileage impacts how much a 2013 Hyundai Elantra is worth. A 20,000-mile (or 18%) difference (in the example) raises or lowers the valuation by almost 13%. At a 40,000-mile (or 36%) variance, the bottom line number fluctuates by about 25%.
Exploring Other Valuation Tools
With just a few clicks, CoPilot’s Hidden Profit Calculator provides a quick and easy way to find out the value of a 2013 Hyundai Elantra or any car. There’s no personally identifying information required, and you can optionally advance the results into bona fide purchase offers.
And there are more valuation tools at your disposal. Outfits like Kelley Blue Book (KBB), TrueCar, and Consumer Reports offer online estimators. Returning to our 2013 Hyundai Elantra GLS sedan example (in the 60601 zip code with 110,000 miles), let’s explore how the values match up. Remember, CoPilot is showing the car is worth $9,115.
- KBB “Trade-In Value”: $6,748 (range: $6,058-$7,391, the “Private Party” average is $7,706)
- TrueCar “True Cash Estimate”: $7,905
- Consumer Reports “Trade-In Value”: $6,980 (average condition), $8,180 (clean condition)
- Consumer Reports “Private Party Value”: $9,075 (average condition), $10,875 (clean condition)
All the above services (except for Consumer Reports) allow car owners to convert an estimate into a purchase offer. Keep in mind that purchase offers require additional verification by entering more details (like the vehicle identification number or license plate details). And the vehicle may be subject to an inspection before there’s a trade of keys for cash.
THE BEST TWO-SEATER CARS
If you’re in the market for a speedy two-seater, we’ve got you covered. Check out our list of the best two-seater cars on the market today.
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