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 that car worth?’
To find out the actual market value of your vehicle, the first thing to do is get a Car Valuation. Below, we summarise vehicle assessment, the factors that can impact a car’s value, and where to arrange a 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.
From the brand of a car to its mileage, many factors determine how much your vehicle is worth. They are:
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.
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.
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.
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.
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.
Some specialities, including leather seats, multi-media systems, built-in navigation, reversing cameras and a sunroof, can enhance the value of a car.
The expert team of Oz Car Removal Sydney will be more than happy to assist you in your Car Valuation. Just tell us the details about your used car, and we will shoot you an instant offer of up to $9999.
CALL 0402 720 206