Things you should know when calculating car value

The world of vehicle buy and sell has changed drastically in the past few years. In fact, even the way that people sell cars has changed drastically. Thanks to the internet, you can now tell the whole world (or your locality at the least) that you’ll be selling your vehicle at this particular price.

However, despite the ease of access that’s been granted to vehicle sellers, there is also the disadvantage of stiffer competition due to the same reason – access to the Internet.

It is important to calculate your car's current value in the market

The good news is that stiff competition doesn’t mean impossible. With the large assortment of tools in the online world, you can definitely find the right help for you to sell your pre-loved vehicle.

But if you don’t want to make any extra spend or if you really don’t want a mediator, we’ll be discussing one of the best ways for you to sell your car – selling it at the right price.

1. Why is it important to know the value of your car?

Labeling your used vehicle that’s either too high or too low is one of the most usual mistakes every independent seller makes. In fact, the market is saturated with more overpriced vehicles than there are underpriced and adequately-priced vehicles. While you may think that you’re pricing your car just right, a lot of people on the Internet are well-aware of the right prices.

This may sound fine to you at first, especially if you believe that your car will “eventually” have a buyer. However, car buyers will most likely skip your car ad due to its high price. You’re lucky if you can still manage to find a buyer for your vehicle, but what if you don’t?

Labeling your used vehicle is the most usual mistakes every independent car seller makes

To prevent that from happening, Philkotse.com listed a few guidelines that can help you in sorting out the right price for your car. Read on to find out more:

2. Take the “Used-Vehicle” market in mind

Before you price your car, make sure you first know the used-car market inside and out. You don’t have to memorize anything or attend classes to learn this. All you have to remember is the information laid out below so you know when the best time is to sell your car.

Sedans

When it comes to sedans, you can pretty much introduce your used unit into the market at any time of the year. These are constantly in demand regardless of the month, season or time of year.

Sports cars and luxury vehicles

These types of cars are usually the priciest when they’re brand new. It seems that even in their used state, they can still cost a hefty amount of money. If you’re planning your sports car or luxury vehicle, it’s best to do it in the summertime.

These types of cars are usually the priciest when they’re brand new

Collector cars

Collectors are a special breed of vehicles. These types are usually kept indoors rather than on the highways. If you’re not in a hurry for the cash, you can keep this car with you as long as you like. The only thing you have to do is keep it in shape until the right buyer comes.

Pickups and Vans

The market’s demand for these types of vehicles is consistently high. However, these types of vehicles are barely sold for a high price.

The market’s demand for these types of vehicles is consistently high

>>> To see the used-car market with the lowest price, visit our used cars for sale.

3. Find out your vehicle’s fair market value

A local version isn’t available in the Ph yet but in the meantime, you can use other websites to help you get an idea of the actual cost of your car. One thing to keep in mind however, is that the price you see listed in sites is just for reference.

Depending on how well your conversation went with the buyer, you can go over or charge lesser than what the unit cost in your reference site.

The price you see listed in sites is just for reference

Learn from the competition

To get a better idea of how you should price your vehicle, you can utilize local car-selling sites and key in your vehicle’s make and model. After a few seconds, you should be able to see similar vehicles to the one you’re selling and how much they’re worth.

You can try comparing your vehicle to those closest to your location by turning on the GPS icon on your phone or by utilizing the search tools that you can find on the websites.

However, you do need to keep in mind that the prices posted on these sites are usually the asking price. This is usually higher than how much the car will usually cost. But this adjustment will make way for haggling between the buyer and seller to take place.

Visit dealerships

If there are used car dealerships available in your area or at least if you have a friend that works there, then that’s good news for you. This means that you won’t have to look far because the most dependable answer to your query is right close by.

If there’s a dealership, simply walk in and check if they have a vehicle just like the one you’re selling. If they do, ask the attendant how much it’s worth and in what condition it is. To make your visit worth it, you can also how they price their cars and what they consider when putting a price on their units.

Used car dealerships have the most dependable answer to your query

If they have more than one unit at varying prices, try to remember their differences and what makes their prices vary. You can also compare the vehicle you’re selling to the one they have in stock and see if you’ll have to increase or lower the price depending on the condition of your unit.

>>> You might concern: Car buying tips & tricks to avoid hidden fees from dealers.

Trust Your Gut

Once you have all the necessary information that will help you make up your mind, it’s now time to boil it down to the right digits. If you think that your vehicle will most likely be bought at the price you’re thinking of, go ahead and let people know about it. If you really aren’t sure, you can start the price high and then reduce it over time until you finally get interested people to contact you for it.