Whether you are looking to buy or sell your vehicle, it is important to get an accurate and unbiased valuation. Nowadays the question ‘what is my car worth?’ is one that can be answered easily, thanks to online services where users can get near-instant quotes based on entering a few details. However, online quotations offer valuations based on the current market prices of similar models and the details you enter such as the vehicle’s mileage.

Ways of getting a Vehicle Valuation

The online method is useful in finding out what you can expect to sell or buy your car for but does not necessarily take into account the mechanical and physical condition of the car. In this respect, even if you are planning to use an online service it is worth looking at the following options as well:

•    Research Online auction sites: Checking out online auction sites such as EBay and others can help you get a picture of your car’s value. Searching for similar models to yours and checking to see how much they are selling for or how much people are willing to bid for them is one way to find out the value of your vehicle.

•    Approach your local Dealerships: Dealerships are often willing to buy your old car as part exchange for a newer model but you are by no means obligated to sell your car to them. However, approaching your local dealership for a valuation can be another way to accurately determine your vehicle’s current value in order for you to make informed decisions.

•    Car Price Guides: Car price guides are also helpful, and the transition of these services to an online model means vehicle owners can get access to up-to-date and accurate information at the click of a mouse.

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Why is it Important to get a Valuation?

If you are looking to sell your car, you will want to make sure you get the most you can for it. Likewise if you are planning to buy a vehicle, knowing the general value of your chosen make or model will help to stop you from paying over the odds for your new set of wheels. As such it is important to be aware of the value of your car as well as current market conditions to ensure you get a good deal.

In addition, researching the valuations of similar makes and models will help you get a clearer picture of how much you can expect to receive or pay in a private sale, on a forecourt, or as part of a trade-in deal. The varying prices are due to the fact that dealerships will give you a value with an eye on reselling the car later for example, and a private buyer may be willing to pay that much more for something that they love.

Having a ballpark figure in your head will also help when it comes to negotiations, and if you are buying you can quote lower prices you have seen on the market and vice-versa if you are the seller. The same applies to part-exchanges with dealerships as knowing the correct value of your car can mean the difference between being credited enough for your vehicle, and being undervalued. No matter how much you would like to receive for your car, always remember to factor in depreciation in your final pricing.

What is Car Depreciation and what affects the Valuation of my Vehicle?

Of all the possessions we can own, cars may just be the most notorious for depreciation, which is the rate at which your vehicle loses its value from the moment you buy it to the time you come to sell it on. The rate of car depreciation varies between models but is typically between 15 and 40 percent, while cars that are three years or older will be over the 50 percent mark. Some models hold their value better than others and it is worth finding out these makes if you are currently selling your old vehicle to buy a new one.

Some of the reasons that cause a car to depreciate include a reputation for reliability, the number of previous owners, fuel economy, and the desirability of your particular make or model.

Despite the inevitable decline in value of your vehicle, there are ways that car owners can slow down and minimize the rate of depreciation including the following:

•    Choosing the right car: Careful research to find a suitable vehicle that meets your needs and holds value well is important. Such a car will reward you in the long run when you decide to change your car for a newer one.

•    Buy a nearly new or good used car: This will help you to avoid the steep losses that come with buying a brand new car off the forecourt.

•    Regular Maintenance: Your car looks after you as you go about your day to day business and sometimes we can take them for granted and get used to just getting in, starting up, and driving off. With a little bit of TLC, however, you can be rewarded by better sell-on prices as well as performance and reliability during the time that you own the car. In addition, a verified full service history will only serve to reassure potential buyers and give them peace of mind on the condition of the car.

Other ways to arrest a quick slide in the value of your car include avoiding outrageous colors when buying your new car, selling your car at the right time of the year, as well as avoiding too many modifications that you may like but may put others off.

To conclude, there are many ways car owners can find the answer to the burning question, ‘what is my car worth?’ From using online platforms like 1888paycashforcars.com to using reputable dealers to get a quote, knowing the value of your vehicle comes in handy in many situations.