Knowing the value of any item is more important than knowing the price of it. The value actually helps in determining and therefore appreciating or depreciating the final price. Being aware of the value of a big investment (one of the biggest of your life) like your car thus becomes very important.
Whether you are looking to sell your old car, trade in your vehicle for a new one or buy a new one, a proper car valuation is necessary. In a professional car valuation, you will be told about the value of your vehicle and the price you can hope to charge in the market. The different parameters on which a car’s value is determined – although differing from dealership to dealership – consist of the following.
- Make & Model
Brand matters. The value of a car depends a lot on the brand or the make of the vehicle. A reliable brand will definitely command more prices.
Some car models become flag bearers of certain time periods and thus remain ever popular. On the other hand, the hype surrounding some models fizzle out and these are treated as pariahs of the used car market.
The age of the car is, obviously, a critical point in determining its value and thus its price. An older car (if not a vintage) will be priced lower than a newer model.
The amount of distance the vehicle has covered also has a bearing on the amount you can get for it. The rule of thumb says – ‘The more the mileage on the car, the lesser the market value.’
- Accidents – If the car has ever been involved in an accident, its value goes down drastically. No one will want to buy a damaged car. Even if there is no apparent damage, it will be hard to find a person who will risk a large amount of money on something that he perceives as damaged.
- Overall condition – The look of the car is certainly very important. Although the outside has very little bearing on the performance and efficiency of the car, we humans tend to judge most things (and people) by their looks and thus a clean and damage free vehicle will be able to net you a better price.
If you are looking for a used car that you can trust to last a while and fulfill all your requirements, you need to make sure that the dealer that you get the car from is someone you can trust like Car BABA in UK.