Your Car Valuation Checklist - What is your car is worth? If you are planning to buy or sell your old car it is mandatory that you know itâ€™s worth prior to making any final decision. Car valuation has now become much easy with availability of used car calculators for car valuation online.
Selling a used car may seem like a daunting task for someone who is new at it. It involves careful planning and organization. But in order to gain maximum benefit one has to keep in mind various factors while they sell cars. You can sell used car to car dealers or even opt for the online mode for a more direct approach, but each of which of it the used car valuation is a necessary first step. Here are 5 factors to consider for an accurate old car valuation processâ€˘
Brand and car variant- This is an obvious factor that plays an important role in second hand car valuation. Some people have a weak sport for a particular brand which the seller can prey upon. The more popular and well reputed brands can generate a higher resale price. Not all car variants can be tagged with the same price either. The high-end variants are sold at a higher price even when resold due to the newer technologies and extra gizmos. On the other hand, the cheaper base variants and evaluated to procure a lower resale value.
Mileage- The number of miles or kilometers your car has travelled is one of the compelling factors that are used in establishing its value. It gives a fair estimation as to
how long the life of the engine would remain. Fewer miles typically translate to higher resale values. â€˘
Year of manufacture- The older the car is the lower is the estimated price. This does not come as a shock as the older variants undergo much more wear and tear than the ones recently manufactured. However, this may not be true for cars that have aged on paper but have not been used extensively. So irrespective of the fact the older cars tend to be tagged with a lower price and will continue to get scrapped regardless of their actual condition.
Condition of the car- This is the first and the most important factor to consider while evaluating the value of your used car. If the car is visually appealing and in top notch condition it will attract the buyer more no matter what the price tag is. This gives the seller an upper hand and can thus make them ask for a larger sum as resale value. Any necessary modifications and touch ups that need to be done for attracting the client must be done. Any flaws like dirty carpets, torn seat covers, dirt, stained seats and broken car parts are a huge turn off and a complete no-no for the customer. It is very important for you to convince your potential buyer that the car has been well cared for even if it is old to earn a larger profit.
Extra upgrades- This can either go in the favor of the seller or turn out to be a loss. For some customers the extra gizmos and upgrades like stereo music system, improvised interior and aftermarket accessories maybe an attractive feature which they can procure at a price lower than that of a new car. However, the price of such cars is bound to be higher than the ones sans the upgrades and thus can be a turn off for the client.
Published on Mar 12, 2018