7 Amazing Facts For Your Car Resale Value
In today’s scenario, if you don’t know your car resale value, you should’ve considered it to check on Indianbluebook for the accurate evaluation of your car’s value. Car resale value is One of the things in life that you should be absolutely sure of. Is that whatever you drive, one day you’ll need to sell your car. It’s not a case of IF, but WHEN? you take a good look at your car. What condition is it in? Does the interior look worn out?
If you’re going to need some major maintenance soon, how much is it likely to cost? Will it be worth it? If your thought process has reached this stage, it’s probably time to sell your car.
It is wiser to get rid of it while it’s still in working order. In order to make sure that you get a good price for your car, it’s important to take care of the major issues.
Although there is hardly any set calculation to determine the value of a salvaged car, there are some basic methods that can be used to get an approximate car resale value. It depends heavily on the amount of damage it has sustained, and also the exact mathematical formula used by the insurance company.
First and foremost, you should determine the current retail and trade-in values for the car based on its year, make, and model, which are used to calculate the car’s market value. Thereafter, you should contact your insurance company to obtain the percentage rate they use against the market value in determining the final resale value.
Many sellers rely on a few online tools like the Kelley Blue Book and the Canadian Blue Book as guides. This proves to be particularly helpful if the car has suffered an accident and considered to be a total loss and you are in need of a more precise method of determining the actual value.
The so-called car resale value or book value is an extensive price listing of practically every car and vehicle model that exists. These include both new and used vehicle varieties, and these values are known to be updated regularly. Consequently, they have become highly reliable as a guide on car price data. If you want to compare two extremely popular hatchback cars, I highly recommend checking our blog.
The regular compilation of car price information is given shape by obtaining data from different sources, including car rental companies, authorized car dealers, lending institutions, and even individual consumer car sales transactions.
Car buying price
The price of the car when it was new, plays a major role in figuring out the car resale value according to current trends.
The model of the or Age of the car and the number of its previous owners makes a significant effect on any car book value.
The usage and the number of kilometers that used car has run is directly proportional to the used car price.
Car’s condition and cosmetic damages (like scratches, bumps on car body) can definitely make an impact in selling your car.
Trading or Selling
Whether you are selling or trading a car also is a major determinant. Trading with a dealer will give you less value for your car although the process is very smooth towards trading your car to the dealer, and if you’re a hustler I recommend selling it first before buying another car which eventually gives more value to your car.
Place or Region
Region and landscapes – some cars are more preferred in some states/cities and they command better resale. It is also important to note that a car registered in one state or city gets a comparatively lesser price if sold in a different state or city.
Cars manufactured by companies like Maruti, Hyundai, Honda, and Toyota command better car resale valuation in India.