How To Calculate Your Old Car Valuation?

Posted by Subramanian on 17. February 2016

Subramanian A.K.A Subu is the Founder at 5 Random Things. His passion revolves around helping businesses succeed. He is known for his creative SEO skills and specializes in handling web marketing efforts and boosting online conversion for large corporations in highly competitive niches.

Car Valuation

Finally, you have decided to sell your car. The biggest hurdle; Are you getting a fair deal for your old car? This is one of the biggest dilemmas every used car seller and even the buyer face. IndianBlueBook tries to throw some light to help you out to ensure you strike a fair deal while selling or buying a used car. After all, IndianBlueBook advocates NEVER undersell or overpay.

The value of your car are influenced by many factors, top most are:

• Manufacturer: Cars by some manufacturer gets you better resale. Cars from Toyota, Maruti and Hyundai command the highest resale in India.
• Model: Popular car models fetch you more resale value.
• Years of use: Older the car, lesser the value you get.
• Mileage logged: Usually cars which have put on more kilometers are evaluated lesser compared to a similar one which has logged in fewer kilometers on the road.
• Number of previous owners: More the number of previous owners, the car value go down.
• The urgency in Sale: If the buyer senses the urgency in the sale, in all probability the buyer will try to pull down the value of the car.
• Type of buyer: the same car will be valued differently by different type of buyers.
• Individual buyers: Usually you get the maximum value when you find an individual to buy your car.
• Exchange: You get comparatively lesser value when you try to trade in your car for a new one at the car dealership. However, sometimes you can strike better deals with the dealer in the form of loyalty bonus, special offers and when the salesman is desperately trying to seal a new car deal with you.
• Trader/ Broker: IBB suggests this should be your last option as trader/ brokers are there to make money out of the deal and will always try to pull down the selling price.
• Color: Colors like white, silver and beige are popular in the market and will fetch you better value than not so popular colors.
• Mechanical and aesthetic appeal: Better the condition of your car, you get better value. That big dent or abnormal engine clatter can put off buyers or they will bargain for a lower price.
• Information: Information is money. Do through research about the value of model (you get all that information at IndianBlueBook for Used Car Valuation) and consulting with auto enthusiasts.

And most importantly, learn to say NO/ Walk away: Don’t succumb to pressure by the buyer. The moment you feel being dragged into an unfair deal, walk away…