Tuesday, 22 December 2015

How much is your car worth?

If you’re thinking about selling your car you are probably wondering how much your car is worth.

How can you be sure you’re getting a good deal? Can you be sure you are maximising its value?

Don’t leave it to guesswork. To find out how much your car is really worth, read on…

Be prepared

Firstly, it’s important that once you decide to sell your car, you stop looking at it with an emotional attachment. To buyers, your car is just another car, so it is vital that you take a step back and look at your car objectively to understand its real value.

On average, if you bought your car new then it will have lost 60% of its value in the first three years, though some cars retain more of their value than others. This is why it is important to be prepared; if you have an idea of what factors determine a car’s worth, you will be more capable of finding a good deal.

So what can determine your car’s value?

Your car is unique, and that means your valuation should be unique too. This doesn’t mean you can’t estimate the amount your car is worth, though. Some of the things to take in consideration are:

* Make/model
* Mileage
* Age
* Engine size
* Petrol/Diesel
* Service history
* Accessories/extras such as leather seats, in-car technology
* Colour
* Overall condition

Popular models are more likely to retain their value than others, so this is also something to consider.

Do your research

Use the internet to work out how much your car – and cars similar to it – usually go for. Take a look at private sellers and see how much they are advertising similar cars for. A quick internet search should bring up a vast array of information down to the make and model so you can do your research.

An easy way to sell your car is to a dealership, and if you are on the hunt for a new car, part exchange is a simple way to use your car as a deposit on a new one. Stoneacre Part Exchange has a free online part exchange valuation tool so you can get an instant valuation simply by putting in your registration and mileage. You can use this valuation to part exchange your car for a new one, or simply use the valuation as a guide to see how much your car is worth.

Maximise your car’s value

Once you know what your car could be worth, it’s time to start maximising its value. Obviously the better condition your car is in, the more it is likely to sell for, so it is a good idea to give the car a deep clean inside and out, and polish up any minor aesthetic issues.

One way to make your car stand out from the crowd is a full service history, complete with documentation from an official dealership showing on-time services. If you do not have this you could find your part exchange valuation drop. Buyers will pay more for a car if it has a full history including consistent service and MOT information. To increase the chance of getting a good price, collect all of your paperwork and make sure it is as complete as possible.

If you make sure your car is in its best possible condition, and you have a good idea of its estimated value, you won’t be shocked when a dealer gives you a price, and you will be in a better position to get a price you’re happy with.

Good luck!

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