How to Know how much my Car Is worth
Whether you are reselling or trading in your car, or you are just curious to know how much your car’s worth, it is significant to know how to get a good appraisal. So, before you advertise your car, it is important to know the estimated price of it first. Having a good idea of your vehicle’s current value can actually help in maximizing your profits. At OneHowTo.com, we are going to suggest some tips to learn how to know how much your car is worth.
To know how much your car is worth, there are car sites that you can visit to compare rate of similar car models available for sale online. For instance, look for same car models of the same year with the same gasoline engine capacity. However, there may be a huge difference in the rates, despite being of the same model, year and engine. Factors like transmission, drive train, physical condition, accessories etc. may affect your car’s value too. So, these online sites can give you a good idea of your car’s value, however there might be small differences.
Use appraisal tools available online
There are several appraisal tools available online that you can use to calculate the real value of your car. Most of the times, these sites are accurate and need you to select your car’s right trim, options, make and model, and area from where you bought it. These sites offer authoritative reports, no matter in which part of the world you are located in.
Refer to print car advertisements
Conventional advertisements of used cars in local magazines and newspapers can also help in knowing the real value of your car. Many dealers, buyers and sellers still use them for buying and selling used cars. One added advantage of using print ads is that you can completely trust them, as they are traditional ways of bringing your used car in notice of prospective buyers.
Ask a local car dealer
Local car dealers can greatly help you in getting an estimate of your used car’s price. There might be several factors that they may consider while evaluating your car’s worth, including the following:
Your car’s age
Your car’s value is sure to decrease as it ages, unless it is a limited edition model. On a general note, a car’s price is reduced by 15-20% as soon as it leaves the showroom. Following that, it loses around 20-25% every year.
Mileage of your car
The odometer of your car will be a significant thing they will check while evaluating your car’s worth. It not only tells how much your vehicle has traveled, but can be a great tool too to tell if your car is approaching its retirement age or not. Your prospective buyer can ask for a huge discount if your car has run around 100,000 miles.
Damage to the car
Before you make your car available for sale, be honest and assess the damage and wear and tear of your car. Enlist every dent, scratch, rust and mechanical problem that may depreciate the value of your car. If you want to get maximum price of your car, get these damages repaired beforehand.
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