Posts Tagged ‘valuation of car’

Getting the best value to sell my car

Cars are a common site at home as well as on the road and as long as people need the services offered by the car. It is one of the most convenient methods to travel around in and it is designed to serve other purposes other than transport. Often every now and then it is quite common to find cars on sale due to a huge number of reasons such as upgrading or downgrading and generating income for a given venture.  When it comes to the point of asking which the best way to sell my car is, then it is high time to know the value of the car you want to sell. 

Valuing the car is a very important point in selling the car. One would not expect the car to cost the same as it did when you originally purchased it. With time the value of most cars / vehciles depreciate to the point that it can be sold for a very small amount.  The rate at which the car depreciates highly depends on the type of vehicle, the condition of the interior and exterior of the car as well as its performance. If one fails to take care of their car, the value of the car will depreciate much faster and in selling the car one can get some cash back.

Valuing the car one wants to sell can be done in a number of ways, most of which can be easily accessed by the owner of the vehicle. Common methods of valuation of the car for sale may include Edmund’s, Kelly Blue Book and NADA.  These resources have a method which they use to evaluate the cost of the car one intends to sell and since they are only to be used in finding out the cost of the car and other variables such as inflation may change they are websites that can be freely accessed.

The bank can also be quite helpful in determining the value of the car. When one wants a loan from the bank, they are usually asked to issue security for a given amount of a loan. If one uses their car for the security of the loan, then the amount that the bank will give one is the loan value of the car. This can be used in competitively pricing the car for sale. In addition to the loan value, one should also get the retail value of the car and chose a price between the range of the loan and retail values.

Even though a huge number of people want to know the best value for their car for sale, seldom do they want the hassle of going through a number of ways to know the price and thus often they use the local paper and website advertisements on other similar products, but this often lead to wrongful valuation. In most cases the advice that can be found on sell my car guides is that the closer the selling price is to the loan value, the higher the chances of a successful car sale.