How To Determine The Value Of A Car

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How To Determine The Value Of A Car
How To Determine The Value Of A Car

Video: How To Determine The Value Of A Car

Video: How To Determine The Value Of A Car
Video: Used Car Pricing - How do I know what is the actual fair market value of my car 2024, December
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The cost of a car is influenced by many factors, which, however, can be classified into several categories. After spending a little time at the monitor of your computer with a piece of paper and a pencil, it is within the power of every car owner to determine the cost of a car.

When evaluating the value of your car, don't be cheap
When evaluating the value of your car, don't be cheap

It is necessary

  • - computer with internet access
  • - several periodicals automobile publications with advertisements for the sale of cars

Instructions

Step 1

Study the market. Sadly, but in many respects the value of a car is determined by its position in the market at the current time. Even if some time ago you bought your car for a decent amount, it could depreciate in a few years. Keep this in mind and be prepared for unpleasant surprises.

So, first, study information from open sources. Firstly, these are advertisements for the sale of cars on large Internet sites, and secondly, we will be interested in advertisements in periodicals. Search there for cars of the same make, model and year of manufacture as yours, and calculate the average cost. We will build on this figure in the future.

Step 2

Assess the equipment of your car. Depending on what exactly is under the hood and in the cabin, the value of the car can fluctuate greatly. Typically, the cost is increased by the following components:

- Automatic transmission, - traction control system, - anti-lock braking system, - parking sensors, - on-board computer, - built-in navigator, - air conditioning or climate control, - xenon headlights, - multimedia system or radio tape recorder, - full power accessories (usually includes power windows, central locking, power and heated side mirrors and power sunroof, if any), - alarm or security system, - airbags, - power steering, - electric drive for seat position adjustment, - car interior, made of leather. To understand how the presence of these elements adds to the value of your car, you can also focus on the price of its fellows with similar characteristics.

Step 3

Assess the condition of the exterior and interior. First of all, we are talking here about how the car has survived the years of operation. If, for example, you want to sell your car, and one of its seats is badly worn or there is a crack in the bumper that requires replacement of the entire part, the future buyer may try to bargain out the cost of the repairs that he will have to do. Therefore, it is better to be honest and deduct this amount from the cost of the car yourself.

An important factor influencing the formation of a car's value is also its color. An executive sedan in fuchsia will cost an order of magnitude cheaper than similar models in black, silver or dark blue. Perhaps someone will appreciate your originality and consider the extravagant color of the car its undeniable advantage, however, as practice shows, it takes a very long time to wait for such like-minded people.

Step 4

Check consumables. If the pads on your car are worn out, its candles, oils, some light bulbs, cabin and air filters require replacement, and the air conditioner was last refueled at the manufacturer's plant, then you can safely deduct from the cost of the car a round amount equal to the cost of full maintenance from the official dealer.

Step 5

Raise your maintenance history, and that, in turn, raises the value of your vehicle. The buyer will have more confidence in a car that has confirmation that it was serviced by an authorized dealer or in a major technical center than to the one whose owner preferred "garage service". Ideal if you also have all receipts for the purchase of auto parts and accessories.

Step 6

If you have an additional set of tires and / or wheels for your car, feel free to add to the cost of the car and their cost. Just remember that your rims or tires have already been used and worn out, so don't be greedy.

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