Thinking of selling your used car? The real question on your mind is "What's my car worth?" That is an important question a car owner should find the accurate answer to before advertising their used car for sale; otherwise, the seller is most likely not going to get a fair price for their car. There really aren't any excuses for a used car seller to not get an estimated value of what their car is worth. Seriously, the process is super simple! With our free car valuation tool, you are sure to get a price for your car in a matter of seconds.
Even better, we give you a breakdown of how much your car is worth based on different selling options. Without a doubt, selling your car with Carket is always the best outcome for you. Why!? You get more money for your car. How!? It's simple! Carket provides private sellers of used cars with an independent vehicle inspection check, attractive car financing options, post-purchase 3 months warranty, comprehensive background history check, cashless secure payment solution and expert assistance if and when required- ALL dealer benefits and assurances without the dealer price tags.
By offering these dealer benefits with your car, you're able to demand more money for your car. Besides, buyers are willing to pay a little bit more for a peace of mind purchase.
What determines how much my car is worth?
Age of your car
This is unquestionably the most significant determining factor when assessing the value of cars. To be honest, the older your car, the less it will be worth in the resale market compared to when new- regardless of its condition. Also, bear in mind that the depreciation line is extremely steep in the first 3-4 years of owning your car. You could lose up to 50% of its value when 'new'.
Mileage of your car
Did you know that those regular road trips up and down the country to visit friends and family could be so expensive? The miles racked up by your vehicle is another key factor that has bearing on what your car is worth. In the U.K, the projected annual average mileage for a car is 10,000. Cars that considerably exceed the UK average will be expected be worth less than cars that are well below the average projected mileage.
Condition of your car
Physical appearance and the mechanical performance of a car constitute the 'condition' of a car- that which impacts the value of a car. A well-maintained car ('mint' or 'showroom' condition) will uphold its projected value. Poorly maintained cars will sustain value reduction along with other depreciation determining factors coming into play. 'Category C' and 'Category D' will further reduce a car's worth as they are perceived as high-risk cars that have been affected by a severe collision.
Service History of yor car
According to research conducted by Kwik Fit, did you know not having a full-service history can wipe almost a quarter off the value of a used car? Did you also know nearly half of all used-car buyers will ignore a car without the full-service history? These findings af firm the significance of service history and its impact on a car's value. Having a comprehensive service record gives buyers an idea of how well the car has been maintained in the past.
Number of previous owners of you car
We all like the ideology and the feeling of being 'the first to have' something. If the opportunity to be first is gone, second and third is great. Fourth and fifth is good enough, but subsequent numbers are less attractive. This is exactly the case with used car buyers. Cars with more owners registered on the V5C registration are less desirable and thus command less money in the resale market.