What is my car worth? – tips on estimating the value

Trade Your Car Tips: how to estimate the value of your car.

Things to remember before you assess your car’s value

 

There are many factors that will affect the value of your car when you decide to sell. Before choosing how you are going to sell your car, it is important to know the variables which influence the value.

 

Trade Your Car has highlighted three factors which will help you estimate the value of your car.

 

1) Market Research

 

To gauge your cars worth, you can assess the current market prices on car sale websites. Compare similar models listed for sale – this will provide you with an indication of the price range. It is important to note: these cars are not sold yet. The advertised price is often not the sold price. The price may not necessarily be an accurate indication of your cars worth.

 

2) Estimate its value

 

There are many tools online that offer instant, online valuations. We offer a Free Online Valuation for your car. This will provide you with an estimation of your cars worth, which is determined by the make, model and year of your car. Please note: this valuation should be used as a rough indication as it is not possible to provide a precise valuation without inspecting your car. There are other contributing factors including added extras, mileage, location and condition of your vehicle.

 

 

3) Consider all factors

 

Trade Your Car offers a free online valuation to help you estimate the value of your car. It’s important to realise that there are a number of variables that will contribute to the actual value of your car.

 

• Age
The age of your vehicle will have a major influence on the worth of your car. Cars depreciate with time, so inevitably with time the value will fall. If however, your car is a classic, vintage or a specialty vehicle – the value may increase with age.

• Kilometers travelled
The more kilometers on your vehicle – the lower the value. A car with higher kilometers, has more potential for wear and tear. On average, a vehicle travels 14,000kms per year. If your vehicle has travelled more than the average, you can expect a lower valuation. Conversely, if your car has driven less than the average, the value may be increased.

• Condition
Condition reflects the current state of your interior, interior and mechanics. Condition is a key factor which has a major influence on the market value of your car. The best way to maintain your car involves regular servicing and maintenance (logged in the logbook). This will ensure that potential buyers will know the car has been well looked after. Likewise, aesthetics of the car are equally important. If the interior condition contains stains, rips, smells of smoking/pets, it will reduce the final value of your car. Scratches, rust, marks and dents will further reduce the value of the car.

• Extras
Any additional features that are not standard for your car will increase the value. This may include built in technology, tow bars, heated seats etc.

 

If you consider the three factors that will have a major influence on the value of your car, you should be able to gauge the current price of your car. You can also try our car valuation tool to see how much Trade Your Car would pay for your vehicle today. Get a free online estimate here.

 

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