If you are thinking of selling a car, either to help finance a new purchase, raise funds or savings to place in the bank, the car valuation process can be a confusing path to embark, especially if you are not an expert in the vehicle field.
It is absolutely essential before you begin to sell or part exchange a car, that a realistic price in mind is identified, that is both fair and market dictated. It also needs to be a price a seller is prepared to accept from a car dealer or privately based customer.
It can often be a worrying experience for many vehicle owners who are looking to sell their car on the used motor market. The media often features incidents where unsuspecting customers have sold their car to unscrupulous motor dealers who have not given them a reasonable price for their vehicle.
Used car companies are in the primary business of making large profits. Where customers are not fully armed with facts and vital figures of true car worth, they may possibly fall foul of an eloquently presented, but underpaying car dealership, or too cheap a sale on the private market.
By using a free car valuation tool, it is possible to ascertain an estimate or specific price that the current market conditions will dictate for a used car and what that vehicle’s new price was when the model was released. Typically, when obtaining the most accurate quote to value a car, it is necessary to enter details around the car’s age, mileage, condition, service history, engine size and other required details which all can affect the value of a vehicle.
Using a modern car valuation tool will often enable most car owners to simply enter their registration details, gaining an automatic presentation of exact facts regarding make and model of car. So, in the case where it is difficult to recall a car’s specifications exactly, this ‘number plate’ process makes for a simple exercise in swiftly ascertaining a vehicle’s true value.
Using a car valuation procedure is an imperative element that owners must not forget to undertake. ‘Part exchange’ prices give a vehicle value when it is offered to a dealer in part substitution for a newer car, whereas ‘dealer price’ estimates will indicate what a car business may ask for a vehicle on their forecourt. ‘Private’ buyers will be interested in a reasonable figure to pay as an individual customer, and a ‘trade price’ indicator concerns a sale from owner to dealer, in exchange for cash or a cheque.
A private car sale will often result in an increased value for a significant portion of sellers. By being able to present current evidence of car worth to a potential buyer is a powerful selling tool, which may also ease purchasing concerns a prospective purchaser could harbour.
It is always worth considering obtaining a professional valeting service to give a second hand vehicle a full interior overhaul before any sale. This is especially important if car seats and dashboard areas have become a little grubbier over time and lost their initial showroom-like experience. The actual condition of a car could affect the valuation price and amount received, so an investment to thoroughly spruce up a vehicle interior is certainly not a fruitless exercise.
In situations where your car is looking tired, consider replacing interior car mats, pedal rubbers (where these are excessively worn) and use repairing products available to mask or reduce internal scratches and marks. Low cost solutions put into action before assessing car prices can subsequently enhance the presentation of a vehicle for sale, ultimately providing a much improved market value.
If after utilising a free car valuation, it is evident that vehicle bodywork or paint finish may affect the end appraisal figure, owners could again reassess via the valuation process and detail a vehicle as if presenting in a more desirable condition (e.g. without minor dents or scuffs). This process will indicate how much more a vehicle could be worth in a more desirable condition.
Car valuations may be significantly impaired when associated with minor car damage issues. Like interior rejuvenation techniques, consider whether bodywork and paint repair services prior to a vehicle sale will be a valid outlay that could return a higher sale value. Ensure a car for sale has a valid MOT (if required), service history, legal tyres and required road tax.
The used car market is an extremely competitive place, so when considering a current vehicle to part exchange or raise needed finance, do not be timid in your approach. Ensure a selection of main dealers is approached to compare offers and prices, which may be outlined. Where a brand new car is being sought, again do consider valuing this too to ensure it is not overpriced from a car showroom.
Some second hand car dealerships specialise in used cars and will be keen to acquire a vehicle to add to their inventory, whereas others who are main dealers in brand new models might only offer a much lower buying price.
Dealers are often skilled negotiators in supplying many reasons for a vehicle’s lower part-exchange value or cash price. Look out for possible ruses around engine size and supposed popularity (or lack of), car taxing costs, servicing expenses and so on. Even the season of a year in which the car is presented for sale may affect the desirability factor of a motor car (for example, presenting a convertible model during the winter months).