THE’Buying and selling used cars are linked to the prices at which they are offered and evaluated. Who can confirm that the evaluation of the car proposed by the seller is correct? Can we blindly trust the price of a used car offered by a private or professional seller?
And if we want to sell our car ourselves, what price should we set? How to calculate the value of a used car? The best advise is to start to negotiate with clear ideas and above all with the right price.
Criteria to adopt when evaluating a used car
Let’s start by understanding the criteria used to define the price of a used carin order to know what price range we can offer or expect.
Factors That Affect the Value of a Used Car
There are many things that are valued when it comes to used vehicles, such as regular maintenance, actual mileage, general condition of the body and mechanics, or other guarantees, such as a breakdown insurance policy. Let’s look at them in detail.
The factors that influence the valuation of a used auro are the following:
- Model and brand: Popular models and brands tend to hold their value better over time.
- Year of registration: new cars have a higher value.
- Mileage: low mileage means less wear.
- General state: Appearance, body style, interior and engine will greatly affect the value of a used vehicle.
- Service and maintenance: A car is more attractive with a history of regular service and maintenance.
- Equipment: the presence of optional features such as the navigator, parking sensors, panoramic roof, etc. increases its value.
- Bodywork and paint condition: scratches, dents and repainting can reduce its value.
- Accidents: a crashed car is worth less even if repaired.
- Current market: Supply and demand for the model in question will influence the price.
What to check, inspections to do
To evaluate the price of a used vehicle we can proceed with these steps:
- Perform an online search: for example by going to websites specializing in used car ads (such as Immediately, AutoScout24, etc.), in order to evaluate the market prices of the specific model.
- Check the vehicle registration document: check that the chassis number printed on the car body corresponds to the number on the registration document.
- Take a road test: check the operation of the engine, gearbox, brakes, steering, clutch (in the case of a manual gearbox) and all accessories. Check that there is no smoke from the exhaust; if it is white, it is due to abnormal oil consumption.
- Inspect the bodywork: look for scratches, dents, rust and finally make sure that doors and hoods open and close properly.
- Check the interior: the condition of the seats, steering wheel, dashboard and all controls.
- Inspect the engine compartment: check for oil leaks, coolant leaks and that all belts are intact. Open the lubricating oil filler cap with the engine running to check that it does not produce excessive vapors (indicating a loss of compression).
- Inspect the frame: look for signs of accidents or bad repairs.
- Tires: check the condition of the tyres and the correspondence between the sizes, speed code and load in the booklet
- Brakes: inspect the brakes, especially the front ones, to determine the wear condition of the discs and pads.
- Ask a mechanic’s opinion: in case of doubt, it is always good and right to ask for an inspection and check by a trusted mechanic who lifts the car on the lift to check it carefully in the lower bodywork, suspension arms and shock absorbers.
How to value a used car, how much value does a used car lose
Typically, a vehicle loses 25% of its original value after 1 year. This percentage doubles after 3 years and reaches 80% after 8 years. The first useful tool for evaluating a second-hand vehicle is the list of used vehicles with prices Eurotaxwhich is included with the most popular car magazines. Eurotax provides sales quotes on all used carsincluding out of production. So this tool is used by many dealerships during negotiations.
On used.newsauto.it You can search the used car ads for the specific model and find the market prices of the model for a used car valuation.
Then there are websites specialists who offer free valuations based on vehicle data, such as:
Car manufacturers also provide a used car valuation service, among these we point out
Finally, there are also many app which allow you to estimate the value of a car based on a few pieces of data, such as: PriceGuru.
Used Car Valuation, Other Useful Tips to Avoid Missing the Deal
When it comes to evaluating a used vehicle, there’s no need to rush. You need to take all the time you need to evaluate the car. It is therefore necessary, compare multiple offers. Also ask an experienced friend to accompany you on this “adventure” can be helpful when you are unsure. In addition, the price indicated by the seller is often negotiable.
There are three fundamental rules linked to the value of a used car to remember anyway
- No vehicle is the same as another.
- There is not only and exclusively a second-hand market.
- It cannot be assumed that there is only one purchase price.
In summary, as mentioned above, there are many variables that influence the value of a used carand an accurate evaluation will allow you to negotiate the best price and ensure you get the most convenient offer.
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