It's not uncommon for vehicle owners to upgrade their vehicle after 3-4 years. Selling the old vehicle is a good way to raise funds for a newer model. Before selling an old vehicle, it's good to find out the market value so you do not sell it for less than it's worth. If you're not sure of the value of your old vehicle, you should research this information carefully before placing it on the market to sell. There are ways to find out the worth of your car before you sell it to ensure you get the best deal.
Determining Market Value
The market value of vehicles varies depending on the make and model of the car. Some vehicles retain a higher value over the years than others. The physical condition of your vehicle and its mileage will also play a part in how much it is worth.
One of the best ways to determine the market value of a used vehicle is to look it up on Kelly Blue Book online. By typing in the year, make, model and mileage of your vehicle, you will receive a general estimate of the vehicle's current value. You can also visit such sites as AutoTrader, UsedCars.com and Cars.com and compare prices of similar vehicles to your own. This will give you an idea of what similar cars are selling for in your particular area.
Other Factors That Affect Car Worth
Finding out the market value of a vehicle is important so that you do not lose out on your sale. However, other factors also come into play when determining a vehicles worth. The market value gives you a figure to start with; from there, you will need to determine a realistic price according to the condition of your vehicle, going rate in your area, vehicle servicing, extra amenities, etc.
The condition of your vehicle will play a key role in its sale. It indicates whether the vehicle has been well cared for or not. When it comes to a vehicle's condition, buyers generally evaluate the vehicle's body, interior, tires and mechanical condition. If these aspects of your car are in excellent shape, you will be able to charge a higher price when you sell.
The Servicing History Of Your Vehicle, Can Play A Huge Role In It's Value
Vehicle buyers are also interested in the servicing of your vehicle. Has your vehicle received regular servicing or has it been pretty much run into the ground? Does the engine run well or does it have problems starting and accelerating? Do the brakes work properly? How are the tires? Your car will not be worth as much if it has had poor servicing and you will need to take this into consideration when setting a sale price.
Always Check Out The Market For Your Vehicle Before Deciding On A Selling Price Point
If your car is unique or comes with quite a few amenities, it will be worth more on the open market. However, you should compare what similar makes and models are going for before you set a price. If you want to sell your vehicle fast, you may not want to price it higher than the going rate in your area. If you are not in a hurry to sell, you can set a price according to what you feel it is worth and negotiate with potential buyers.
Selling a used vehicle requires give and take from both buyer and seller. However, knowing how much your vehicle is worth will enable you to negotiate a good deal. You will have greater knowledge about the value of your vehicle and be able to point out its positive points to prospective buyers. This could help you sell your vehicle quicker and at a more favorable price.
Featured images:
- License: Royalty Free or iStock source: http://www.depositphotos.com
License: Royalty Free or iStock source: http://www.depositphotos.com
David Angelo has been buying and reselling used cars for over 20 years. Currently David spends his time running a family owned wholesale car buying business, and spends his spare time blogging, traveling, and playing outdoor sports, such as Tennis, Golfing and Baseball. He also contributes various charitable organizations. Following David's company on twitter for automotive related topics @BiggestCarbuyer.
