Car Valuation Guide: The Real Value
September 25, 2018
Knowing the value of your vehicle is an important aspect when you’re planning to sell a used car in Australia. The reason behind this is simple: the procedure of selling a car starts by being knowledgeable of the right price. Although there are many ways one can search for the value my car, one of the best and easiest is by using an online valuation tool.
As mentioned earlier, there are several ways in obtaining an estimate of the value for the vehicle you’re trying to sell, but one of the easiest ways to do it is through a valuation tool. Using such a tool is very straightforward. Most websites will let you select specific details from dropdown lists such as the make, model and year it was released.
For you to get the best results, you will have to make sure that the details regarding your vehicle are accurate. There are other online valuation tools that will require people to provide other details such as the average mileage, external condition, number of past owners and more.
What Can I Expect from an Online Valuation Tool?
Using an online valuation tool to get an idea as to how much you can sell your vehicle for is important, but so is getting this information from a trusted source. You don’t want to spend time and money trying to sell your car only to find out afterwards that you sold it less than its fair market value.
To answering the burning question “What’s my car worth?” reliably, take a look at these valuation websites below and what they have to offer:
Autotrader – This website makes use of data that were obtained from internal listings. When you use its valuation tool, it will compare your vehicle to other similar make and models within your area. It does this by looking at the average asking price from both private sellers and dealers and also by the number of sellers that have the same vehicle in your area.
Edmunds – Another trusted source for fair market value on vehicles, Edmunds utilises data coming from their own inventory of used cars when comparing prices. It features a vehicle appraiser and market value calculator to help sellers identify the best pricing.
Kelley Blue Book – An industry leader in providing accurate pricing, KBB provides users everything they need to research for new or used cars. They can use the online valuation tool to find cars that are for sale and to make informed decisions when selling theirs. They use nationwide vehicle sales in order to calculate the market value of a vehicle. You can expect to get data such as the retail value, trade-in value and private party pricing here.
National Auto Dealers Association Guides – NADA is known for the wide range of pricing guides for various vehicles such as used cars, vans, trucks and SUVs. You can also get guides for classic cars, collectibles, boats, motorcycles, RVs and even ATVs here. Besides providing online market data to users, you may obtain hard copy editions too if you wish.
Importance of Using a Valuation Tool
For those of you who are planning to sell their vehicles, using a trusted car valuation tool will give you an accurate pricing and other useful information. You can then use this data as your guide to give you the best outcome. For people who are planning to buy a vehicle, you will be more confident in negotiating for prices if you’ve used the valuation tool beforehand.
After all, it’s not easy and as straightforward as it seems to know how much to ask for when selling a car. Following the wrong approach when doing your research could lead to you undervaluing your vehicle, which results in you losing out on hard-earned cash. Going above the fair market value will also make it hard for you to sell your vehicle in the long run.
Whichever of these valuation tools you use, you’re guaranteed to get the fair market value of the vehicle you’re planning to sell. You no longer have to guess the value of your car that you’re looking for or ask yourself “What’s my car worth?” and not getting the right answers.
At We Want Your Wheels, we provide you with a free consultation to make the research process a lot easier on your end. We even buy cars directly from you, so you don’t have to go anywhere else. We purchase any car, regardless of the make, model, age, condition and mileage. What’s even better is that the payment will be made directly to you upon the day your vehicle has been sold to us.
If you want to know more, contact us and let’s talk! You can also visit one of our three handy locations so we can discuss everything with you in person.