How To Estimate The Value Of A Used Car In 5 Easy Steps

Prior to selling your vehicle, you should have an unmistakable thought of what it is worth. Deciding the trade-in vehicle esteem needn’t bother with being overpowering, in spite of the fact that it is vital. Recall that estimating your vehicle too low will prompt a deficiency of cash. Purchasers will exploit your low cost, not letting you know that they would have paid more.

Valuing the vehicle too high, then again, will make it almost difficult to sell your vehicle. At any rate, you can not do such sooner rather than later. At the point when you accurately value your pre-owned vehicle, neither of these will be an issue. All things being equal, you boost benefits without holding up months in a row to finish a deal.

Houston Direct Auto’s Good judgement Strategy for Vehicle Valuation guarantees that you value your vehicle fittingly to sell your vehicle rapidly and at the greatest expense conceivable. This strategy is easy to follow and will make you cash while selling your vehicle!

Determining the Right Value for Your Used Car 

 Pricing a car for sale is tricky. If you price it too low, you’ll cheat yourself out of money. The financial consequences of overpricing a car, whether emotional or based on poor research, can be severe.

You can determine the fair value of your car using KBB.com or Edmunds.com. The trade-in value, the private sale value, and the dealer’s selling price are the three numbers that show how much money you can expect to receive for the car. The price would never be paid by a savvy car buyer to a private seller.

Many people recommend competing in the classified ads in newspapers and on the Internet. However, it can be time-consuming and costly. Even though the advertisements claim that the cars are in better condition than your vehicle, you have no way of knowing. You’re better off running your car’s value through these two competing websites. 

Defining Your Car’s Condition – Excellent & Good

 So you can know your car’s value, it’s important to know its condition. Just be honest with yourself and do what the guides say. They provide you with an impartial evaluation of the condition of your car.

Further along the lines of assistance, you should take your car to a friend’s house who can examine it as if they are in the market to buy it. The inspection will utilize my Used Car inspection list as a starting point.

There’s no need to create my own rating system. I’m going to keep it simple and just use stars. The next page covers average, damaged, and rough-looking used cars.

It is in great shape with its up-to-date maintenance records. The tires are the same make and type, they are completely intact and they don’t show any wear on the outside. The inside also shows no signs of wear and tear. The car’s paint is unblemished and is free of even excessive nicks or scratches. The title is good and the car will pass all necessary inspections in the given region. Of all used cars, only five percent fit in the aforementioned category. Does your used car exceed expectations as much as 95% of all other used cars?

The cars in this ranking show wear consistent with their age. There are no major problems with the mechanical or cosmetic condition of the vehicle. Paint still looks good, but there may be a few scratches or dings. Minor touch up may be required. There is minimal wear on the seats and carpet in the interior. The tires are in good shape and still have some life left in them. Ideally, a four-star car should have its maintenance records, a clean title, and be able to pass an inspection. 

Defining Your Car’s Condition – Average, Rough or Damaged?

You need to admit that your used car might be in one of these categories. If not, take a look at these definitions and see if it does.

There may be a few problems with this car that require a small investment. For instance, the exterior may have begun to fade in the sunlight. Your Jeep could be in need of repair and as such is rather flawed. As an example, it could have multiple scratches or even a small dent or two. The seats could also look old and shabby, like the dashboard. The tires are probably close to being in need of replacement but are still in good shape and could pass a safety inspection. There’s probably no maintenance records but the car still has a clean title and could pass state and local inspections.

Though this is a vehicle with some engine problems – it’s been to the garage for a number of repairs. It’s exterior and interior may be in need of repair in that there’s faded or missing paint. There are dents and some signs of rust. It’s probable that these tires are at the end of their life span. If this car needs inspection at a local or state agency, it might not pass its first try.

Basically, this car has structural problems that prevent it from running at any speed. The exterior and interior show signs of wear and damage. The tires are bald and unreliable. These vehicles have branded titles (salvage, flood, frame damage, etc.) and require major, expensive repairs. 

Price Difference

 Don’t fudge your prices when you see the differences in what you can charge based on condition. Any advantage gained through negotiation can be eroded by fraudulent behaviour.

(Information provided by Houstondirectauto.com.) 

We’ll take a look at a 2004 Chevy Malibu with 50,000 miles on it to demonstrate the price difference that can occur depending on the car’s condition.

The amount is $5706

amount: $5322

The amount is $4468.

3804 dollars

According to Houston Direct Auto, subtract the cost of getting it back to three-star condition to arrive at the damaged price.

Among the price differences between one star and five stars, there is a 50% jump for three stars and the biggest jump of 19% for four stars. (That points to the importance of maintaining your car from the get-go.) 

How To Value Your Trade-In

In spite of the fact that objective data determines a car’s value, even websites have some subjective pricing that explains why they suggest different prices.

At the time this article was written, a clean 2002 Dodge Neon with 50,000 miles on the odometer, a five-speed manual transmission and a four-cylinder engine valued at $3942, according to Houstondirectauto.com. A Houston Direct Auto online value is $4195. You arrive at a trade-in value of $4068 when you divide the difference.

The dealer may offer you anything between $4068 and $4195 under this example. Make the dealer prove any number below $4000 — or any number that is approximately 105% of the lowest two numbers you arrive at. 

Current market value

Houston Direct Auto values use the current market value, which means instead of books that can sometimes be out-of-date, new resources use real-time statistics for your area for up-to-date car prices. They give you reliable information about what cars in your area are selling for at the moment.

There are great websites out there that can tell you how much a used car is worth, but opinions may vary. With Ride Time, you’ll get the best deal available and the satisfaction of a great vehicle at a low price and low payments. Come on in today and check out our inventory of quality pre-owned cars.