Get True Value for Your Old Car by Proper Car Valuation
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. The first thing that the seller has to do is carry out a proper car valuation. You can sell used car to car dealers or even opt for the online mode for a more direct approach, but for either of the options the valuation of the used car is a necessary first step. Here are a few factors one should consider to obtain true value of car-
Used Car Valuation
- Brand and car variant- This is an obvious factor that plays an important role in second hand car valuation. The more popular and well reputed brands can generate a higher resale price. Cars manufactured by companies like Maruti, Hyundai, Honda and Toyota commands better resale value in India with Japanese companies leading the way. The initial price of the car is also of premium importance as a higher value car generates greater return. 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.
- 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.
- Extent of usage- 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. Sometimes the geographical area also plays an important role in the resale process.
- 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. Also if you are the first owner of the car chances are high you will get a better resale value.
- 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.
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