Know the value/worth of your car !
Why is it important to know the value of your car ?
Having a realistic approach, to know the value of your car is quintessential. It’s a major step, to put you on the right track and secure your best deal. You should neither undervalue your car, nor have high expectations. A balanced assessment is the KEY, to ascertain the real worth of your car.
Knowing the value of your car, allows you to fix a reasonable benchmark. Moreover, it gives you some leverage in your negotiation with the buyer. Most importantly, you can confidently hold on to your price and need not settle for the initial low offers.
The real market value, depends on vehicle’s model year, brand, grade, mileage, and overall condition. Similarly, the market demand of your car, also plays an important role in determining its value. For instance, you can expect to gain, if your vehicle is in demand, although scores low on other parameters.
Other important aspects that matter to the new buyer, may be the cost of ownership. This is a combined measure of factors like fuel economy, availability of essential parts and cost of general maintenance.
Higher the cost of ownership as perceived by the buyer, lower will be your selling price.
Various sources for you, to establish a realistic value for your car may include:
Classified ads in News paper: Scrolling through the recent news paper ads, give indications on expected value. Even though, these may not convey the actual value of the deal, but can be used for reference.
Used car dealers: They usually underplay on the value of your car, and keep substantial margins for negotiation. Be on the lookout for similar cars displayed for sale.
New car dealers: They have a trade-in facility and be utilized to get a fair idea on valuation of your car.
Facebook car selling groups: Members in these FB groups, buy and sell vehicles, by sharing details. This can offer you a great platform, to get a good idea on the market value of similar cars.
Websites for Buying & Selling: Some of websites offer online valuation facility. They may also tend to underplay and offer a low price initially, but usually improve after physical inspection. Alternatively, you may utilize this service as a buyer to gauge the real value of your car.
By referring to these sources, and a little research on how same or similar cars like yours are being sold, will give you a fair idea on the realistic value of your car.