In case you decide to sell any car, determining the value of your car can be an extremely challenging yet an important task. You must do all the necessary research to ensure that you get the right money for it, below are a few factors that will prove to be helpful in calculating the value of your car.
It’s a complicated process: Setting the right price for your car will not only help in securing a buyer faster but it will also assure the buyer that they are not getting ripped off. A car’s value is a complicated sum determined by several factors that include the vehicle’s age, mileage, optional equipment, features, condition and so on. All these factors must be examined in detail when setting a price.
However, some factors are completely out of your control. For example, the marketplace might already be crowded with similar cars. This can have an adverse effect on the price of your car.
Evaluate the marketplace: Before putting your car out there, you must know the current situation that prevails in the used car marketplace. Since trends change fast, you must arm yourself with the current situation in order to avoid someone taking advantage of your ignorance. You should be asking yourself the following questions: Is this vehicle in demand at the moment?
There are certain cars that are almost always popular. These are sold relatively quickly and at good rates. Should you be selling your vehicle at this time of the year? There are certain times of the year allocated for driving certain cars, for example, you should consider selling a convertible in good weather. Selling a vehicle that is suited to the current weather ensures faster sale.
Moreover, also assess the current economic situation. You should be well informed about the economy and fuel prices before making a decision to sell your car.
Assess how mileage affects the resale value: It is important to take the following factor into consideration: Vehicle age to mileage ratio. The average mileage of a vehicle is roughly 15,000 km/year. If you own a vehicle which has been driven more than this average, you should expect a lower value.
Consider the car’s condition, add-ons, and features: Apart from mileage, there are other factors which add to or subtract from the value of used vehicles. Accessories such as a high-quality sound system, heated leather seats, sunroofs, and convertible roofs attract many buyers. These extra features may significantly increase the market price of your car. The condition of the vehicle also has a huge role to play here.
If you’ve kept your car in mint condition, then it is likely to be sold at a higher price. However, if your car’s surface is laced with scratches and dents, its value might take a hit.
Compare prices for similar cars: It is extremely important to do your research! Chances are that many other people are selling a similar vehicle, so checking the local listings helps you set the appropriate price for your vehicle. Utilize online platforms when you do your research. You can use CarSwitch’s handy car valuator and save yourself the hassle.
These factors must be kept in mind if you want to know the right resale value of your car or sell any car faster.
If you don’t know the car prices in Dubai, UAE and are looking to sell any car, CarSwitch’s free car valuator can help you arrive at a fair value for your car in UAE. You can find out the price of cars in Dubai in just a few clicks!