Car valuations: How much is yours worth?
How much wonga can you get for your wheels? Here’s how to get your car valuation on point, every time.
So you are itching to change your car for brand new one, but you need to know your budget.
Get your valuation right and you can work it out. Then prepare to enter a whole new world of cars and enjoy more negotiation power when buying your next motor.
What is my car worth?
The first three years of a car’s life on the roads see its biggest deprecation. In fact, The AA suggests that after eight years your car is unlikely to lose much more value.
Most cars lose around 20 percent of their original price per year during the first three years. So, a car bought for £20,000 two years ago, would typically be valued at around £12,000 today. It’s not advised to generate a valuation based on this percentage – it just helps to give you a ballpark figure.
What affects my car’s value?
Everything from the make and model through to the mileage and your driving style affect a car’s value.
It has been reported that Land Rovers retain their value more than any other cars, while Mazda depreciate much quicker. As a general rule of thumb, the more premium the car brand, the longer it will hold its value for.
But age and make are not the only factors that affect a car’s value. Other factors such as mileage and condition play a big part too. By keeping your mileage, paintwork nicks and body indents to a minimum you will help to retain your car’s value. It goes without saying that ensuring the technology is in good working order is also essential for a higher price.
How do I find out my car’s value?
Browsing the classifieds to find out a car’s value is a popular method. Make sure you use a site that asks for your car’s make, model, age and mileage to get the most accurate figure. But remember, this is just a valuation; it doesn’t mean that the sum is what it will fetch – it could be higher or lower. If you are selling your car independently, remember to leave room for bargaining as your buyer is likely to offer less than the asking price.
You can also ask your local dealership for a valuation. This route is the easy and expeditious option, especially if you are looking for a part exchange deal.
When should I sell my car?
The easy answer to this question would be when you are ready to buy a new one. But planning ahead could actually save you some money. Convertibles and sports cars tend to sell better in the summer and hatchbacks and SUVs often fetch a higher price in the winter. This trend is worth bearing in mind if you want to obtain the highest price you can.
Get your car valued today
If you would like to know how much your car is worth, contact FG Barnes today. You can get in touch via the online enquiry form or by phoning or emailing the team directly.