Why Is It Important To Know The Worth Of My Car?


Your car is probably the second most valuable thing that you own, after your house. It’s an important asset, and it’s very important to know its exact worth of my car. That’s because, like all assets, your car can generate revenue whenever you need. However, for that to happen, you must ensure that you’re selling it to the right buyer.

Need some instant cash on your hands, why not sell your car? Need to buy a new one, why not trade it in for another? Moving out of town? Get the much-needed capital before you leave by cashing your car in at the local dealership.

There is a multitude of reasons for calling quits on your old rig. The reasons don’t matter though. What’s important is getting the exact money’s worth for your car if you do eventually choose to sell it.

Getting to know the worth of your car is simple. You can either go to the nearest dealerships and offer to sell your used car. Or, you could check online at free car valuation websites.

If you’re going to go for the first plan, you’ll have to supply the dealer with all the important information such as mileage, condition, make, and repairs. They’ll assess the condition and evaluate your car and consequently give you a personalized quote. The quotes that you get will give you a fair estimate of the wholesale value of your vehicle. That’s because the dealer will try to gain a profit by reselling your car later, which would have to be closer to the market value of your car. Your aim is to get as close to the market value as possible by referring to many dealerships and only considering the best offer.

If you’re not willing to go through the hassle of going to several dealers and buyers in search of the best rate you can get for it, then try going online. It’s convenient. It’s easy. It’s insightful. Why not? By going to the website of trusted car buyers, you can use their free used car valuation service to get a good estimate of the actual car’s worth.

The process is pretty simple. It asks you to enter some key data. The data includes your car’s registration number, its model, its make. Other than that, a little bit of more info is also required, and then you submit your contact information as well to end the process.

Soo enough, you’ll receive a personalized quote, that’s unique to your car and yours alone, based on the information that you have supplied. Now, this isn’t some completely automated process. In other words, the results you receive are not automatically generated. That is because the quote you receive is calculated only for your car.

Although these two methods are the ones suggested, you could just get a vague idea about your car’s weight in gold just by browsing the internet on your phone. By searching for the exact car model on online dealerships and selling platforms, you can get a better understanding of what the actual market value of your car is. That way you can set a minimum to the amount you can sell your car for and even a maximum, just by searching on the internet.

Similarly, by recording the different rates being offered by the sellers and dealerships on the online websites and selling platforms, you can form a large enough data set for further research. By averaging these prices, you can even get a raw estimated average amount that you can sell that specific model of car for.

You can even increase the effectiveness of the process by searching for cars that are not only the same make and model but have similar conditions as well. These include the mileage, years drive, physical damage, and repairs (if any). That is because these conditions are very important in determining the resale value of your car.

Online selling platforms for cars allow you to filter results according to the car’s condition as well. This simplifies the whole process of finding out about your car’s resale value down to a few minutes of swiping around your smartphone.

Now that you have the right idea of both the average market value of your car as well as the estimated resale value of your car, you can go ahead and sell your car with confidence. The advantages of having this knowledge beforehand are:

  1. You won’t be ripped off

When you finally do meet a buyer who’s interested in your car, you will not be fooled into thinking your car is actually worth an amount that is much lesser than its resale value. People tend to take advantage of naïve and clueless people who don’t have any idea about their car’s market presence. If they low-ball the sellers and get a clue of how gullible they are, then they make sure to exploit the seller and getting the car for a lot cheaper than it actually is.

That applies even more so to people looking to sell it later on for a profit, so if anything, they want to exploit you. But if you’re well informed, you won’t allow any clever customer to get away with it.

  1. Get a sweet deal

By being well-informed of your car’s value, you won’t just be saved from an embarrassing daylight robbery at the hands of a buyer. You’ll even make the most out of it. You’ll have a solid idea of just how high offers can go by looking at the ads online. Then, make them more competitive for your car by selling a little lower than the most expensive ad. That way you can attract more customers easily without losing too much money.

  1. Easier to buy one

After you’ve figured out how to unravel the true value of your car, you’ll become a better negotiator. That means you can properly assess the worth of a used (or unused) car when you intend to buy one. Consequently, you’ll know the right price to offer when negotiating.