Car Valuation Hacks: How to Get the Right Value of a Used Car?

Car Valuation Hacks

When it comes to selling your car, one of the most important concerns car owners have is getting the right price for the vehicle. Selling a car can be a challenging endeavor and can be quite confusing as well. There are a number of aspects to deal with and all of them requires critical expertise and experience in the field. 

Without the right expertise and experience, it is likely that you won’t be able to get the right car valuation for the vehicle you are selling. It is not an uncommon scenario where a person selling a car gets much less than the car actually deserves due to a lack of knowledge and expertise about the market. 

In the next part of this blog, we have discussed some very effective and useful car valuation hacks that will help you get the best possible price for the second hand car you are trying to sell. 

Car Valuation Hacks

Things To Know About Car Valuation 

An asset as valuable as a car must be carefully examined by competent professionals to determine its correct resale value. Not just professional expertise, but when determining the price of a used car, there are a variety of other factors that play a role. They are: 

  • The make, model, and age of the car.
  • The mileage.
  • The condition of the vehicle.
  • The current market standards. 
  • The latest prices of the model in the new cars market. 

That being said, there are both offline and online platforms to get the right valuation of a car. 

 

Online Valuation of Used Cars

There are a number of platforms online where you can get the right valuation of your used car. All you need to do is simply enter the details of the vehicle like model, year, etc. and the platform will provide you with an approximate valuation of the vehicle. 

The key thing to know about such online calculators is the fact that they provide values that can be inaccurate. This is primarily because these valuations are based on certain assumptions which are not always foolproof. Used car valuation involves a variety of factors including some very minor details which are not always taken into consideration by such online calculators leading to incorrect estimations. 

 

Offline Valuation of Used Cars

The other way one can ascertain the value of a used car is by visiting a local second hand car dealership. These dealerships also offer you an estimated price but the most important thing to know about them is that you need to visit multiple dealers to tally the prices. 

It would almost always be an error to get a price from a dealership and sell the car to them without any further market survey. This is because any dealership would want to buy a car at the least possible price to keep their profit margins high. This is why it is expected that they will offer you a lower-than-deserved price for your vehicle. 

Insurance Declared Value And Depreciation Rates

These are two other ways a second hand car’s value is estimated and both of them are mostly inaccurate. As said earlier, there are a lot of minor details that determine the right price of a vehicle. And, when it comes to used car valuation, you cannot rely on rigid metrics like IDV or Car Depreciation rates solely. 

A Trusted Platform For The Best Price

Going for an online car resale platform that combines all of these factors to offer you an accurate valuation for your car is the best decision for you. It will help you get the best price for your car and also help you sell the vehicle without any hassles or complications!