How to find out the market prices for cars
Determining the market value is an important step when buying or selling an auto. To find out how get quote for car on the market, you can use two methods: independent or by contacting specialists. Each has its own advantages. Let’s consider each one separately to enable everyone to determine the best way for themselves.
Self-determination of the market price of the car
This path is considered difficult, but it gives an opportunity to delve into the system of the auto sale and purchase market. This knowledge will be very useful in the future, because it is customary to change cars from time to time.
Where to begin
First you need to familiarize yourself with the offers for sale that are on the market at the moment. The easiest way to do this is on specialized sites on the Internet. This is not difficult if the buyer knows exactly what he wants. You need to take into account the following criteria:
- Car brand;
- Model;
- The appearance of the auto (this also includes its integrity: body, glazing, etc.);
- Engine size and type;
- Mileage;
- Transmission.
It is imperative to consider how relevant and popular the offer is on the market. Sometimes a new auto with low mileage will cost like a used auto, “running” several tens of thousands of kilometers. Therefore, the make and model are often even more important than the year of manufacture and mileage.
Final value formation
After the getting quote for car analysis has been done, each individual case can be considered. Each machine has its own wear, which is different from others. Someone operates the car in such a way that the braking system wears out faster, someone’s attachments suffer more. In general, you also need to check the engine, wheels and tires, exhaust system, auxiliary devices.
General assessment rules
How can get quote my car? There is a price reduction system. A car bought in the showroom already loses 15% of the original price in the first year of operation. Then every year the loss in value is up to 7%. As a result, even if the car is in good condition, it will still be possible to sell it in 5-6 years for 50% of the original price, without taking into account mileage and wear.
If all these calculations and information searches are too complicated or take a long time, you can entrust this to specialists.
When is a professional determination of the market value of a car necessary?
Sometimes it is necessary for an expert to conduct an independent assessment of the market value. Such results are official and can be used in such cases:
- If you need to divide property in case of divorce;
- If the car will act as collateral when receiving a loan;
- If the car is put on the balance sheet in the company or removed from it.
Naturally, the services of an expert are not free and can be quite expensive. But you cannot do without them if you need to present an official estimate of the market value of a car. If you just need to sell or buy a car, then you can independently evaluate the car without spending money on the work of a specialist.