Apply These Secret Techniques To Improve Used Car Valuation

Apply These Secret Techniques To Improve Used Car Valuation
January 11 09:11 2018 Print This Article

Used Car Valuation is a concept that is fast gaining ground in recent times with the boom in the used car market in India.

Car valuation has several benefits, particularly in case of those who are thinking of selling off their cars or even considering a used car for their garages. Old car valuation can be easily done online at the right portals and there are several car valuation tools that you can also make use of for this purpose.

Why should you go for car valuation online?

The importance of extensive second hand car valuation is unparalleled. Car Valuation has several major benefits which are delineated as follows:

For sellers of used cars, car valuation helps in finding out the accurate value of their cars so that they do not sell without making any profits or below the minimum value threshold.

For buyers, this is all the more important and old car valuation can help buyers work out the accurate value of a particular used car. They will then be able to bargain more effectively with the seller in terms of prices and will never be taken for a ride and pay higher prices for a model with lower value.

Used car valuation takes into account several parameters like the model year, make, brand, number of kilometres travelled and so on. These are accurately analyzed and synthesized in order to provide a fair estimate of the car valuation.

By knowing the fair value of a used car model, it is easier to negotiate pricing with dealerships who often quote a price that includes a steep profit margin over and above the basic value.

Used car valuation is easy to do online and you can access car valuation tools for this purpose. The entire process is fast, hassle free and does not take up much of your time.

Importance of used car valuation

The sheer importance of used car valuation cannot be underestimated in today’s times where the market is more competitive. Particularly for those who are looking to buy or sell their used cars through dealerships, an accurate estimation of the value is a must.

This will help them calculate how much they need to ask for/pay. This will also prevent dealerships from taking these customers for a ride quite literally! Dealerships and unscrupulous agents often cheat buyers of used cars and even sellers by quoting higher and lower prices respectively.

Consider Situation A- Ramesh wants to buy a used Maruti Swift. He has zeroed in on a used model from the year 2008 available at a used car dealership and the asking price quoted is Rs. 4 lakhs. Ramesh would have liked the budget to be around Rs. 3 lakh or whereabouts but he liked the car and took a personal loan to fund the remainder.

If Ramesh had gone for car valuation online, he would have found out that this particular car which has several thousand kilometres on the odometer, is actually valued at Rs. 2.90-3 lakhs. This information would have helped him bargain with the dealership for a price anywhere below Rs. 3.5 lakh which would have made it a more budget friendly proposition for him.

Consider Situation B- Deendayal has a 2010 Mahindra Xylo and wants to sell it after 7 years to upgrade to a new model. He has approached several used car dealerships for this purpose and selects one of them. After a long wait, he is informed that his Xylo has been sold to a buyer for Rs. 4.5 lakhs. The dealership cites reasons such as market fluctuations, lack of demand and so on in order to justify the price out of which it takes a 20% cut.

Had Deendayal opted for a used car valuation exercise, he would have seen that the accurate value of his Mahindra Xylo would have been anywhere around Rs. 5.5-6 lakhs. As a result, he would have pushed the dealership to sell at a higher price and would have got more in the bargain. His lack of awareness regarding the value of his car cost him close to Rs. 1-1.5 lakhs. Quite costly don’t you think?

As can be seen used car valuation online is a godsend for those looking to buy or sell second hand cars. There will be no ambiguity about the accurate value of a car and this will help in more transparent and value for money deals in the market.

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Joyce Allen
Joyce Allen

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