Posted on October 25th, 2021

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Car Evaluation And Tips To Determine The Market Price For Your Car

For most of us, a car is undoubtedly one of the most expensive purchases we make in our lifetime. And whether you’re preparing to either buy, sell, trade-in or insure one, the critical question to contemplate before making any decision is ‘How Much Is My Car Worth?’

To find out the actual market value of your vehicle and how Cash for Cars you can get for your vehicle, the first thing to do is get a car valuation. Below, we summarise car valuation, the factors that can impact a car’s value, and where to arrange a valuation.

What Is A Car Valuation?

A car valuation or assessment is an estimate of the current cost of a car. It lets you discover if you have the correct number when insuring, buying, selling, or trading in a vehicle. It also helps you in determining whether it’s affordable or not.

Selling a vehicle

The average age of a car in Australia is about 10 years. So, regardless of whether your vehicle has completed a decade or not, it’s safe to say you’ll presumably look to sell your wheels at some point.

If you’re contemplating selling your vehicle, a car appraisal could let you know its worth and help you set an actual price when it comes to listing it. This can also help you settle the price with potential buyers and, possibly, sell your car faster.

Buying a car

Either you’re purchasing your first car or upgrading; a car valuation could assist you in buying a car for a valid price. It can also provide you with a better knowledge of the vehicle’s market value and put you in a stronger negotiating position.

Trading in a car

A car valuation can provide you with a better knowledge of whether to sell your car privately or trade it in for a fresh one at a dealership. It could help you analyse your car’s market value with what a dealer is offering. It enables you to decide which option will be more financially viable for you.

What Factors Affect Your Car’s Value?

From the brand of a car to its mileage, many factors determine how much your vehicle is worth. Crucial factors that can affect your car’s value are:

Age

Any car is undoubtedly a depreciating asset. Sadly, the moment you put the keys into your brand-new vehicle and drive away from the dealership, your car instantly drops in value. A vehicle can lose up to 58% of its original value after three years.

Mileage

The total number of kilometres that an automobile has driven is a big factor in analysing your car’s value. Simply put, mileage is indirectly proportional to your car’s value. This is because the mileage indicates how often the vehicle has been used. It helps the prospective buyer determine the expected wear and tear of the vehicle.

Make and Model

The vehicle’s make is the company that built it, while the model refers to the car’s production. For instance, in the case of a Hyundai i20, the make is Hyundai, and the model is i20. The brand and model of a car plays a vital role in the valuation process.

Condition

The situation of your car is another major factor. A vehicle with paint and panels in excellent condition will probably be more worthy than the same model with scratches or chips.

The factor that is also just as essential as a car’s condition is its service history. The service history is a crucial document that records any work performed on the vehicle and shows mechanics has completed all the suggested maintenance work. Having a comprehensive service history that shows regular maintenance can increase the value of your car.

Colour

The most common car colours are white, black and grey. Hence, they are popular, and cars with conservative colours could be easier to sell than flashier options. Bright shades can drive prices down due to being less in-demand.

Extra Features

Some specialities, including leather seats, multi-media systems, built-in navigation, reversing cameras and a sunroof, can enhance the value of a car.

What Can I Do To Increase The Worth Of My Car?

As you know, the factors that affect the car valuation, keeping your vehicle in top-notch condition can increase its worth. This could come in handy when you decide to sell your car or trade it in. So, here are some tips to potentially improve the value of your car:

• Clean it: Make sure you wash your car thoroughly before putting it up for sale. This includes its interiors, and you must consider spending a little extra to polish the surfaces. You can also fix any scratches or dents yourself or through a professional.
• Keep an entire service history: An inadequate service history can impact the price of your car. Hence, please ensure that you have the necessary documentation to prove your vehicle has been regularly serviced.
• Replace faulty parts: Parts that don’t work correctly (such as dysfunctioning internal buttons or lights) can lower the value of your car. It’s an excellent idea to consider getting your vehicle fixed before taking a valuation quote.

If you want to take the easy way out, you can simply call the services of Cash Car Removal, and we will evaluate your car’s value for free no matter where you are based in Sydney. We only need a few details about your vehicle, and we will give you the correct estimated amount. We can also buy your car on the spot.
To know more, Call 02 9632 7657