- May 3, 2013
How To Value A Used Car
Establishing exactly how much a specific vehicle is worth is key to the process of buying and selling used cars, yet many people aren’t sure how to go about valuing a car. While there are numerous factors that will influence car value, some will be more important than others, affecting the price in a more drastic way. One of the advantages of selecting Honda UK as your car manufacturer of choice is that they offer a rounded service to their customers, which includes a useful car valuation.
In order to ensure that you don’t over or under value a vehicle and lose out financially, we’ve compiled this concise guide on how to value a used car.
One of the first things a prospective buyer will notice is if a vehicle has any superficial damage. This includes any scratches, dents or prangs on the bodywork that affect the overall look of the car. Any superficial damage can result in the devaluing of a vehicle, so it’s important, as a buyer, to perform a proper superficial examination of the car. Similarly if you’re selling you may want to repair any blemishes on the bodywork.
The age of a vehicle will, to a large extent, dictate the price it can fetch. It is fairly common sense that a 2005 Honda will command a lower price than a Honda CR-V from 2013. You can see the differences for yourself by exploring the range of cars on offer from Honda UK. However, it also worth considering the fact that there are a select few vehicles which actually become more valuable as they age and become classic, cult or collector cars.
In order to perform an accurate valuation of a vehicle, it is necessary to have access to the mileage figures and to establish exactly when it was last serviced and had its MOT. By noting down a car’s mileage, you should be able to work out just how heavily it has been used over its lifespan and whether it has been run into the ground or sat in a garage for a long period.
There are also a number of professional valuation services available to those that require their vehicle to go through the process. The car valuation service from Honda can be a great way to get a precise and accurate valuation of your car, ensuring that you don’t make any mistakes yourself. By ensuring the accuracy of a valuation by using a professional service, you’ll avoid the mistake of placing it on the market at too high a price and causing people to shy away but also avoid undervaluing the car.