When a person decides to sell his car, the first question that comes to his mind is, how much can I sell it for? And then many other questions will arise. The car market considers many factors in deciding on a car's price, some of which are essential, such as the brand, model, year, and number of kilometres. These factors are decisive, and you can see them in our free car valuation tool. Many other factors can impact the value of your car, and that is what we want you to know so that you can have a better idea of your vehicle's possible value. Let's see them.
The Physical Condition
The amount of damage is the most important factor when valuing a car. Your car will probably fetch the top price if it is in excellent condition or has minimal damage and markings. General wear and tear, including minor scratches, can reduce the value of a car.
- A car with scratched mirrors means changing them and buying spare parts.
- A car with a damaged or scratched windshield implies an expensive and significant change.
- A car with destroyed body paint will need a high cost to remove and paint that part with the manufacturer's original colour.
The interior also has a significant effect since it can even give the feeling that the car has not been taken care of, for example:
- Is the dashboard of the car in bad condition? Changing the leather of the dashboard may not be a problem, but it is still a job that requires an expert.
- Are the car seats torn or worn? If the problem is with just one seat, changing it may not be as expensive as changing the entire rear row of 3 seats in an SUV, and if the change results in a significant difference between the seats, it is likely that all will have to be changed. The upholstery of the seats shows their status.
Mechanical and electrical condition
Buyers avoid a vehicle that has mechanical and electrical issues. Most people are not willing to buy a car exhibiting problems and complications. They know repairing it will soon cost them much money and effort.
To guarantee a sale, ensure the vehicle is in top condition without mechanical or electrical faults.
Imagine the brake pads are worn. You should change them, which may be simple, but what if it is something else?
Have you identified if any of the electric windows are not working correctly as they should? Another possible repair.
Vehicles with a single owner sell better and for a higher price than those with multiple owners. When a car has numerous owners, it can be a little more challenging to know how they kept it during use. As a general rule of thumb, more previous owners reduce the value of a car.
If you have been the vehicle's first owner, having the purchase invoice with the manufacturer or distributor is an important document.
Why is the value affected? Let's explain it; a single owner could answer questions about the car's condition from the moment he bought it and provide detailed information. This information can be verified with the inspection and other vehicle data. On the other hand, when the car has gone through multiple owners, contacting the previous owners may be impossible. Knowing what type of preventive maintenance they performed, among other kinds of information, is something that will not be possible to tell without investing money and time.
A car with a history of accidents will inevitably have a lower value; if the vehicle were involved in a major accident, this would naturally affect buyers' confidence; if the car has had a minor accident, hiding it will not help. In many cases, a minor accident that hasn't caused significant damage and was repaired correctly will not affect the car's price.
Suppose the car still has a valid warranty. In that case, this will have a positive effect on car price. It will increase the buyer's confidence and reduce the uncertainty that can affect the value of a car.
Most buyers prefer unmodified cars. This is worth keeping in mind if you plan on modifying a car you may want to sell. While it may not always deter buyers, some insurers don't like insuring modified vehicles.
Your car's total mileage says much about the engine's status, wheels, axis, and overall condition. A higher mileage reduces the value of your vehicle, while fewer miles may mean a higher value.
Cars with additional features like modern infotainment systems, built-in satellite navigation, rear parking camera, and dashcam attract a higher price tag.
Some car colours are more sought after and attract a higher price. However, it's not worth repainting your car because some colours are more popular in different models. It will instead decrease your car price.
Tips for valuing your car
Before you can begin the process of selling your car, there are a few things that you'll need to look into
- Keep in mind that there is depreciation, which affects the value of any car, even if it is a zero kilometre.
- Don't use a zero-kilometre car to compare it with your used car; in 99% of cases, it is a terrible idea.
- Evaluate different options in the market; for example, visit different types of car dealers; this can give you a better and more precise idea of what is the most you can expect and what is the least.
Use the offers you can get from dealerships, but keep in mind these offers can vary rapidly due to different factors, such as the release of a new car model of the same make and model as the car, higher parts costs, import problems, etc. Different factors can cause a dealer's offers to be no more than just a few days.
- Use different websites to evaluate cars of the same model.
Free online car valuation tool - CYCUAEl
While selling a car has been challenging, it's become effortless in recent years. Today, it's as simple as a few clicks and a quick conversation with an inspector.
It's time to get started with this process! Contact us with any remaining questions that you might have. Our professionals are here to help you get rid of your old car and leave it with money in your pocket, so we're excited to get in touch!
Do you want us to value your car and make you an offer? Please bring it to us; We Buy Any Car; make an appointment now!