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Car valuation

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Car valuation

Getting an accurate valuation for your car can be a tricky business. There are now a wide variety of ways to get a free online car valuation, with many UK websites promising to tell you the value of your car. But are they all accurate? Yes, and no. The value of your car will change depending on how you are looking to sell it and how in-demand your vehicle is at that moment in time.

The most important factor regarding your car’s value is the basic economics of supply and demand. If you have a common hatchback and the market is flooded with exactly the same model in exactly the same colour, then it’s likely the prices will be lower than you might expect on the used car market. However, if you have a prestigious, rare saloon car and only a hundred were made in a one-off factory run, then your car may even be worth more than you originally paid for it.

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car valuation

How much is my car worth?

How much is your car actually worth? It’s a problematic question. First of all, most people tend to over-value their cars by looking at retail prices of cars for sale on classified websites like Auto Trader. This can lead to misunderstanding. Many cars ready to buy on sites like this are from dealerships which include things like warranties, finance and returns policies. Retail prices are not realistic valuations if you are looking to sell to a professional car buyer. You need to research multiple car valuation websites online to get an accurate idea of what your car will be worth when you sell it.

Even if you do your research, make sure you consider what your car is worth via all the selling routes – there are many to consider. Valuations will vary between dealers offering you money, private selling platforms and instant online buyer website.

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how much is my car worth?

Used car valuation

When a car is brand new, it’s usually pretty easy to determine its value. The manufacturer will provide dealerships with a recommended retail price, and most dealerships will stick to that. However, with used cars, valuations are much more variable.

With used cars, depreciation comes into effect very quickly with most cars losing a staggering 15 – 35% of their value in the first year. For this reason, things get a little more complicated when trying to place an accurate value on a used car. Used cars also come with all kinds of specs and add ons, and if they’ve been driven for any kind of distance, there will inevitably be damage of some kind, even if it’s a few surface knicks or scratches . Could the gear box be on its last legs, is the cambelt about to break? It can be hard to tell. For private and car buyers alike, it can be very difficult to determine how well a car has been looked after.

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used car valuation

Online car valuation

Getting an online car valuation couldn’t be easier, with everyone from Parkers, Auto Trader, Gumtree, The AA, Confused.com, WhatCar and many many more all offering car valuations over the web. The list goes on and on. But which is the best, and is an online car valuation going to be accurate?

Online car valuations can be problematic, for a start, the website hasn’t seen your car in the flesh, these tools therefore have to make a number of assumptions about the condition and history of your car. Many will ask you questions about service history, damage and more but if anything is answered incorrectly then the valuations can vary wildly.

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online car valuation

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