If you have an intention of selling your car, determining the right car value is a matter of utmost importance.
Determining the right car value is a matter of utmost importance.
This requires both the intuition and research about the current car market. If you estimate accurately the value of your car, you can maximize your profit and simultaneously attract potential buyers.
Some following ways can be especially useful to you when determining your car’s value.
Compare prices online or use print car ads
Simply, you just need to access to car selling websites like Philkoste.comto compare your car’s value with ones of the same models.
Philkotse.com is a leading portal for automotive classified ads in the Philippines.
It is certain that the price of the cars may be completely different as some crucial factors like the transmission, drivetrain, interior furniture, or exterior layer are dissimilar.
In addition, collecting the information about used cars in newspaper, magazines or other reading materials can also be a good way to know exactly how much your car costs.
Use online appraisal tools
An easier way to estimate your car’s price is using online appraisal tools.
We highly recommended some reputable websites like Edmunds for vehicles imported from the United States and EU-car-price for cars from Europe.
Edmunds is an appraisal tool for vehicles imported from the U.S
The appraising of these websites is quite precise and specific and you would not make any miscalculation in determining the car value.
Ask around local car dealers
Car dealerships are always an ideal place to do research about car's price.
Car dealerships are always an ideal place to know the most exactly how much your car costs as the dealers are experienced.
Disguise yourself as a customer and ask the dealers about their cars' price and then inquire them to justify the real value of their cars.
Consider how the age and mileage affect the car value
Absolutely, car devaluation is unavoidable after a period of time you possess it. The depreciation is not the same. Particularly, luxury cars or cars with limited editions will not depreciate their value too much.
One of the top ways to consider if your car’s price should be higher than others is to compare the mileage which is displayed clearly on the odometer.
The mileage not only shows how much your car has traveled but also tells you if it is getting near the 15-year retiring age (15 years may be the retirement age set for commercial vehicles). For example, a car with only 70,000km likelyhas a lot more time left than one with 200,000km on the odometer.
Assess the damage
When selling or trading in, you may be asked many questions about the car’s damage.
Check your car thoroughly to make the most accurate calculation of car price.
Thoroughly check every dent, scratch or other problems related to the engine, transmission and other components to make the most accurate calculation of your car’s resale price. If possible, consider repairing the damage so that its value isn’t depreciated.
In conclusion, estimating a used car price can be difficult, but following the aforementioned ways can definitely help you. Along with that, use your intuition to make sure you’re not asking the wrong price.