How To Know How Much Your Car Is Worth Before You Sell It
Setting the right price for second-hand cars helps to sell the vehicles faster and helps both parties to benefit: it prevents the buyer from feeling cheated and allows the seller to get the most out of his car.
A car’s value depends on several components, including the vehicle’s age, condition, mileage, and extra equipment (among others). This article also explains what other factors are beyond your control, such as the market.
Before you even begin the process of appraising your car, you should consider the current situation of the used market. The following questions can help you better understand the market:
What is the current demand for that kind of vehicle? Vehicle categories, such as family sedans, are almost always in high order. On the other hand, commercial trucks and vans are also in greater need today; these are usually sold quickly and at competitive prices.
Is it the right time of year to sell your type of vehicle? Selling a convertible in the middle of winter could lower the perceived value of the car. This could also cause the vehicle to be stuck on the market for a long. On the other hand, selling a convertible in the spring, when the days are usually straightforward, helps find a buyer more quickly.
What is the economic situation at the moment? If we are in the middle of a crisis where people are focused on saving, second-hand cars’ prices can be affected. Also, consider the fuel cost; if you are selling a fuel-efficient vehicle and gas prices are relatively high, your car’s value will increase considerably.
Unless you sell a single-vehicle (e.g., a classic car), someone else will likely sell a similar vehicle. Checking the newspaper ads and online car appraisal pages is one way to get an idea about your car’s value.
If you want to be more accurate in determining what prices they ask for similar used cars, don’t limit your search to just your make, model, and year. Take a look at other makes and models of vehicles that offer similar features to yours.
Remember that not all cars of the same make, model, and year are the same. As mentioned in the previous point, it can be challenging to find a vehicle with similar equipment to yours, and that is in the same conditions. Comparing the vehicle’s mileage is one of the best ways to determine if your car’s value should be higher or lower than another. A car with only 80,000 km will most likely have a longer life than one with 250,000 km.
The vehicle’s optional equipment or extras, such as a GPS, a good sound system, heated leather seats, air conditioning, sunroof, and convertible, are the main factors in the increase in the second-hand prices cars, be sure to check online car appraisal.
Also, take into account the condition of your vehicle. If you have properly maintained your car and have never had an accident, this will be advantageous. With online tools, the possible buyers will have to dispose of the free service to look for risks.