How Do We Value Your Car?
There are a lot of aspects that go into valuing a car, so we want to inform you about what they are so you know how to get the best valuation possible.
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When you choose to sell your car with us in Derby, you fill out some basic details about the car online using our valuation form, and then we appraise your car in person. This is to see if the condition and details you’ve said about the car are accurate, and so we can give a realistic, in person valuation.
Our team of experts take into consideration the value of your car in the current car market, and we also consider the other following factors:
1) Condition
The condition is one of the most important things that affects the market value of your car. Between a 7 year old car that is well looked after and in virtually pristine condition to a car that is only 2 years old and has dents, scratches and rust, the older car will retain its market value better, and therefore you’d get a better valuation.
It’s not only the exterior that you need to take care of though; you need to think about the mechanics too. You need to make sure your car is safe and roadworthy, and that everything is working as it should. If you don’t keep up with regular maintenance and repairs when needed, this can negatively impact your valuation.
2) Having a comprehensive service record
It’s also worth bearing in mind that when you do come to have your car serviced that you are keeping in line with the manufacturers service schedule. A full service history is also likely to get you a higher valuation as this is very attractive to potential future buyers.
Having genuine parts fitted if your car does need any replacements is also a good idea as this will help maintain its market value.
3) MOT history
An MOT history is vital when it comes to selling your car, and especially having a full MOT history will increase your chances of getting a higher valuation.
This is because potential purchasers get to see what typical problems the car has had in the past, as well as any routine maintenance work that has been done. It also demonstrates that the car has been properly maintained yearly, as it legally should be.
4) Mileage
Milage is one of the first things people look at when they’re interested in buying a car. This is because if a used car has high mileage, this could suggest a higher chance of the car needing regular and expensive maintenance and repairs. It could also make buyers think it won’t last much longer on the roads and they won’t get much life out of it.
5) Age
Cars naturally depreciate over time. A brand new car loses most of its value in the first year by around 15-35% according to Motorway, and then slows as the car gets older.
Age is one of the main factors that influence this, as car manufacturers are releasing new car models every year, therefore older versions become less valuable.
6) Previous Owners
Multiple past owners might have a negative impact on the value of your vehicle. If the car has only had one or two prior owners, it was most likely well maintained according to the manufacturer's service schedule and hasn't had to deal with a variety of driving styles.
If you are looking to sell your car in Derby, you can get a valuation at our car supermarket by entering your REG number. You can read more about our car valuation process here or you can get in contact with us via phone or email.
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