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Used Car Valuation
Valuation requires expertise. And when it comes to valuing an asset as precious as a car, it becomes all the more critical. Despite being an owner, one is unaware of the used car valuation of his/her asset. Getting tricked by the false car valuation isn’t something new so you need to be extra cautious to strike the right chord while evaluating your car resale value.
Getting the right value for used car
Online Used Car Prices
If you think you can simply put some details online about your car and you’ll get the right car valuation online, you are wrong. Most of the prices being fetched are not true and are based on too many assumptions. Plus there are many other critical factors that affect your old car price. Moreover, only a handful of used car price calculators are available on which you can bank upon.
Offline Used Car Prices
Mostly people follow the traditional method of visiting the dealer and getting the estimated second hand car price. And 8 out of 10 car owners sell their vehicle to the same dealer so as to avoid the hassle of visiting other outlets for used car valuation in India. This way the chances of the dealer tricking you rise manifold.
Price offered by CARS24
CARS24 combines the foolproof method of combining the convenience of a reliable online car value calculator with the trust that comes from physically visiting showrooms for obtaining car valuation in India. The unique concept offered by us provides second hand car valuation at the tap of a button and you can book an appointment with us online to sell your used car at our nearest outlet within a matter of a couple of hours.
What not to consider for used car prices
Classified Ads
Some owners tend to visit used car selling or other classified websites and search a car with similar life span and other details as their’s. They think that’s the actual value they should sell their car at, but in reality, it’s not the actual worth of the .car It’s the desired price which the owner wants, and in most cases, it dips by up to 30-35 per cent!
Car Depreciation
The deprecation in the value of a car depends on many factors. For instance, the used car valuation of a 3-year old Maruti WagonR will differ from a Datsun GO of same age and with the same mileage. Moreover, even the present offers and demand for a model directly affects the used car prices.
Insurance Declared Value
Often mistaken, the IDV or Insured Declared Value is not the present resale value of the vehicle. Used car valuation depends on the present state of the car with respect to usage, appearance, engine, etc. For instance, a 5 month old car’s IDV depreciates by 5 per cent but that doesn’t mean you can sell a car for Rs 4.75 lakh which you purchased 5 months ago for Rs 5 lakh.
Frequently Asked Questions
How do I find the value of my used car?
Many car owners wonder how to judge the correct worth of their vehicle. Now, coming up with a fool-proof figure isn’t a child’s play as there are several variables that are involved here. Cars24, however, offers a free tool through which you can quickly judge the correct value of any vehicle simply by entering some basic info about your vehicle.
How much mileage is too much for a used car?
There is no straight answer to this as all of it depends on what car you’re thinking of buying and who has driven it. Still, if you’re looking for an exact figure, for cars that are less than five years old, it should pay to look for vehicles with a mileage of approximately 40,000 km.With cars that are 7-10 years old, it’s best to look for mileage figures of less than 70,000 km. Also, try obtaining all the service records ensure thatthe car you’re buying is well maintained and doesn’t need any immediate repairwork.
Which car is the best for second-hand car buyers?
One should purchase a car as per his exact needs and his buying decision should be based on factors like the condition of the vehicle, the asking price and the availability of all the legal documents. However, there are some cars that are safer bets than others. You can check out our picks amongst best hatchback, sedan, SUV and luxury models in the second-hand market.
What is the depreciation value of a car ?
Simply speaking, the depreciation value of any car is the difference between its original purchase price and its current worth in the market when you decide to sell it off. Mostly, a new car loses at least 10 per cent of its value as soon as you drive it out of the showroom. A car’s value continues to decreased over the period of ownership, with the owner usually realizing the depreciation that has taken place only when he decides to sell off the vehicle.
Is it good to buy a second hand car? Are used cars worth it?
While buying a good used car was often a tough task in the past, things have changed for good. Today, you can easily pick up a high-end vehicle at an affordable price from the used car market and benefit from a high social symbol, top-notch features and a great build quality. With the used car industry fast becoming organized, buying a second-hand car from Cars24 can be beneficial. We offer you full peace of mind as the cars we sell have been through several check-ups, come with full paperwork and can be even returned within 14 days of purchase if you find them unsatisfactory.
When buying a second hand car, what should I look for?
While some used car deals might look very tempting, one should be really careful while buying a second-hand vehicle. It pays to put your money on a well-maintained vehicle with all its paperwork in order. For complete peace of mind, you can choose from our wide range of second-hand vehicles that have been inspected buy our car experts. We even offer a buyback guarantee through which you can return the car within 14 days of use in case you aren’t satisfied.
What brand of car has the best resale value?
While depreciation is something that holds true for every mainstream car out there, there are some vehicles that don’t depreciate as fast as others. Among these, it’s the Toyota Innova Crysta that generally enjoys the best resale value. This MPV depreciates so slowly that one can recover more than 90 per cent of the purchase price even after more than a year of usage. One can even get up to 77 per cent of the vehicle’s original price after four years of use.
What is variant in vehicle?
A variant of a car represents the specifications and the equipment-level of a car model. For example, Maruti’s nomenclature of naming its petrol model variants is LXi, VXi, and ZXi, in which the X denotes to the petrol engine and L, V and Z are varying levels of equipment a particular model has on offer. Similarly, the company names its diesel model variants as LDi, VDi and ZDi, wherein, D represents the diesel engine, while L, V and Z denote to the level of features a model comes with.