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4 Ways to Determine the Value of a Car

Selling a car can be a tedious task especially when you need to determine the value of the car. Car valuation calls for both intuition and research. Several factors have to be considered when coming up with the value of the vehicle. The age of the car, condition, mileage, and extra component or features installed on the car are some elements to keep a note of during the car valuation process. When the car market is flooded with a similar make or model of the vehicle, you will be out of control of the value for the vehicle. You will need excellent negotiation skills to convince a customer to buy your vehicle; otherwise, they will simply walk to another seller for a better deal.

Here are what to look out for when coming up with the right value for your car;

Market Assessment
Understanding the market for used cars is a crucial step towards car valuation, the demand for the make, model, and status of your vehicle will determine how much and how fast you will sell your vehicle. To assess the market for the used car, consider the following;

Demand for the car type
Family cars are always ideal for most buyers, as they want a vehicle that accommodates many people. Also, some buyers would be interested in a simple means of transport from one station to the other. Vans and tracks could be a hot cake for the working community as a majority would prefer the convenience of using personal means of transport as opposed to using public transport.

Check out for Car Listings for Similar Vehicle
Taking a look at the car listings at car news Australia, other local dailies, and online listing sites can help determine the chances of selling your car. Check out the prices of the model and make of your vehicle to assess the value of the car. If you have pimped your vehicle, you may ask for a reasonable price for the car.

Car Mileage
Physiologically, buyers are more attracted to cars with lower mileage than ones with higher mileage. Thus, you are likely to sell your car faster if it has low mileage. Averagely, a vehicle mileage is usually 15000 km/ per, and buyers are most likely to use this factor to estimate the value of the car.

Car Status and Extra Features
A vehicle that is well taken care of and probably never had an accident can sell faster than those that have been involved in an accident and is in poor condition. Again, features such as sunroofs, quality sound systems, and heated leather seats, and convertible tops can create a room to negotiate for a better price.

Bottom line

Proper research on similar cars from online car listings and being on the lookout at car news Australia, can help you get a rough estimate for the value of your vehicle. Make sure your vehicle is well maintained to fetch a reasonable price. Most importantly, you need to assess the current market of your car and set a competitive price for it.

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