HOW ACCURATE ARE CAR VALUATION WEBSITES

With the surge in demand for old cars, it has become a boon for owners of old cars ready to sell them off. New car prices are ever increasing, so a major chunk of the population are indulging in old car purchases. Now these cars obviously need to be in good workable conditions for them to sell themselves. But while for some, having a new car smell is of utmost importance, for others that is not issue as long as the car is able to provide them comfort and convenience for which they are buying the car. Whatever be the car, however old it may be, unless a proper car valuation is done, the deal cannot be sealed. Now this used car valuation can be made both online and offline. But people usually go for a car valuation online to avoid hassle of any kind. And in fact there are a number of online tools available to help you with your old car valuation or second hand car valuation. But the real question is who do you trust?

HOW ACCURATE ARE CAR VALUATION WEBSITES

All car valuation websites almost inevitably talks about ascertaining the market value of the car. Vehicle condition is always a critical variable. When one is buying an old car, he/she is definitely not asking for new car appearance or the new car smell, but a convenience and comfort of drive is the minimum expectation. So the car should be in proper workable condition to sustain a minimum tenure of 2-3 years, otherwise the purchase makes no sense at all. So a website giving information on car conditions is necessary.

There are many online car inspection agencies online which can come with car valuation service providers. So that is also a point to be taken in consideration when the question of reliability of car valuation websites arises.

So if a question arises as to “So what or who is the real authority?”, the answer would surely be – the Market. The market changes every day and therefore the market dictates the true market values of the cars. Sometimes, the car valuation websites gives the market values of some cars to be too high or low and that can pose as a problem.

It may so happen that 3 players of the entire car dealing business, namely - the buyer, the seller, and the lender, are all on different pages, i.e. different car valuation websites. Each player wants the most advantageous price based on the part he or she is playing. The market is the only element that evens the playing field.So the only source of getting a fair price would be the market. In order to get a fair price, according to the market, a used car buyer should aim for the middle of the price range offered by the different websites. One should avoid the highest prices and the lowest ones and be realistic about the same, i.e. too less a price should not be considered true. So, it is safer to stay somewhere in the middle to get a fair deal on the car transaction.

WAYS TO KNOW ONE’S CAR PRICE VALUE ONLINE?

A car purchase can prove to be an extremely emotional event for a lot of people. So it should be dealt with utmost care. So naturally, proper homework is expected from both the buyer and the seller. Both parties should equally and truthfully contribute to make the purchase a success. If a seller cheats his buyer then he/she loses the trust of the client and that is never advisable. Similarly, the buyer is always advised to go prepared and well informed before finalising the deal, because once the deal is closed there is no turning back.

For buyers what is of most importance is assessing the used car valuation and accordingly ascertain the resale price of the car. Only after that can he/she make a lucrative deal. Now there a number of ways to assess the old car valuation and in fact it involves interplay of a lot of factors too.

So to get the perfect knowledge of your car valuation is not so easy. There are a number of online tools to help you guide through it. And this assisted car valuation online aim at allowing car transactions at just the correct price so that everyone wins.

They give you a list of factors that contribute to your second hand car valuation:

• ·         The price of the car when it was newly bought or it was a second hand car at the time of buying.
• ·         Age of the car and number of previous owners.
• ·         The usage or the number of kilometres the car has run and also the mileage of the car.
• ·         The condition of the car which should include the whole of the exteriors and interiors.
• ·         It depends on the regions and place of purchases. Some cars are preferred in some states/ cities and thus promise better resale. Also a car registered in one state or city gets comparatively lesser price if sold in a different state or city.
• ·         It also depends on the season. Convertibles sell better in the summer months while 4x4s sell in winter.
• ·         Manufacturer or the brand name. It attracts the buyers, wins their trust and also decides the depreciation rates of the cars. Cars manufactured by companies like Maruti, Hyundai, Honda and Toyota offer better resale values in India since these are mass favoured cars. And in general Japanese cars get better resale than the European, American and Asian cars in India.
• ·         Segment is an important deciding factor too. The depreciation is much higher in the higher segments. A premium luxury sedan depreciates much faster than an economy hatchback. Thus Honda, Subaru, Hyundai and Toyota top the list for retaining higher resale values more than the luxury car brands like Lexus, Acura, Infiniti, Mercedes, and Audi
• ·         The urgency factor of seller and buyer. The rule is simple, more you are desperate to close the deal, more you lose money. So the tip is to keep calm and not let the seller know about your urgency so much so that they start taking advantage of it. For seller, the buyer’s urgency to get ownership of the car is an added advantage which he/she can exploit to hike the price.

All these parameters are vividly explained in the online tools helping you put a price on your car and thus help you in your transaction.