Easy ways to find out your car’s valuation
It’s always advised for a car owner to be endowed with necessary details of the respective car. The information mostly pertains to and is confined to mileage, air-conditioning, state of tyres and may be insurance or other relevant attributes. It is hardly until the arrival of the time and stage of selling the car, many do not exhibit much interest in estimating the value of their vehicle. When the moment catches up with them to sell the car for different reasons like exchange for new one, sale after accident or other private and confidential purposes there is a lot of study to be done. Estimation of your car’s worth could be a cumbersome affair or an uncomplicated one depending upon the way of your approach. Whatever it could be, getting the number right is a basic prerequisite for your car to fetch a better price in the market.
The basics of price estimation
The value of your car is primarily ascertained based on the year of manufacture, the present condition, the brand to which it belongs to, the model, color and the different accessories forming part of the body with the built-in features. The year on year depreciation is an important baseline to assess the vehicle’s cost and if in case the car had unfortunately been involved in a mishap the price takes a further hit.
Look into the online classifieds and newspapers for prevalent prices of used cars in accordance with their year and condition that should match with the car owned by you. A thorough study would give you enough perspective of the present trends and rates for cars. By making note of the existing prices you will be able to fix an idea of acceptable window or range of prices from the highest to the lowest. Train your observation on some cars with diverse prices to check out how soon they are grabbed in the market place which gives you a hope and understanding.Few coloursare more in demand and command a higher value. Automobiles in excellent condition sell immediately as hot cakes and could be priced only a bit high in comparison with the expensive waiting for weeks together with dim hopes of selling or finding a prospective buyer. Some of the insights gathered would aid you in understanding the car’s worth andaccordingly move forward with a pragmatic approach.
With every additional mile you drive the car’s value is also proportionately beaten down. If the vehicle has been driven in excess of the average number of kilometres in a year, the perceived value of your car goes down. While, many of them hold the total kilometres run as a matter of pride in normal circumstances and boast, it is the exactly the same aspect that turns out to be counter-productive and plays a central role in pulling down the price of your car. On the other hand, if the vehicle was sparingly used though it could be old, it would fetch a good price in the market.
Fixing an appropriate value
The popular and the prospective avenues of fixing the price and selling your car as follows:
Trade-in value: This is the amount offered for your car when you are planning to exchange your existing one for a brand new car. It explains the value or the amount that would be reduced from the total price of the new model you have decided to buy.
Private party resale value: It’s the price for selling your vehicle to anybody excluding a dealer. In simple parlance, you advertised and concluded the sale deal of your car without any external interference after holding negotiations with the prospective buyer.
Dealer Retail Value: This is the price determined by the dealer if the car is to be sold through the dealership and this might come bundled with warranties for prospective buyers of the car.