Auto appraisal or Car appraisal or Valuation means a rough estimate of what a car is worth. There may be several reasons why you want to get this estimate. One of the most common reasons is an accident.
Buying your favorite car, this thought might not have crossed your mind that you can crash it one day. But unfortunately, if that is what has happened, it cannot be undone. Now the only hope to materialize or squeeze some dripping dollars out of that crashed vehicle is by getting your car appraised by the experts.
Some common factors that affect the value of your car are the condition of the car, make and model, optional features, and some other factors that are listed below.
We hope this gives you a good idea of what is Auto appraisal and why it is required—now moving on to some experts’ advice for your auto appraisal. These tips may help you become more aware of your car’s ups and downs and what to mention and what not to mention when negotiating.
In simpler words, how the net buyer plans to utilize that vehicle of yours.
If you are going to sell your car to a dealer who plans to make it whole new again and then sell it forward for some good profit, you can actually get a good bargain there.
On the other hand, if that car is going to be simply unloaded at an auto auction, you are not getting anything useful from such a dealer. They will offer you much less than the former dealer.
This leaves us with the third scenario where you can sell it to a private buyer. This is where it all depends on your knowledge of the car and your negotiation skills. A private buyer is the only person who can either give you the best deal among all three categories or the worst. Our purpose here is to make you a little savvier than you were before about your car.
Mileage is the factor that can significantly affect the value of your car. Some old vehicles with low mileage can sometimes get more value than some of those late models that have been squeezed carelessly. On average, if the mileage ranges somewhere between 12 and 15000 miles per year, you are good. If it is much higher than that, you should lower your expectations right away.
We all know how some cars are very likable as compared to the others. We call them the collectibles. That car may have introduced some new technology in the market or may have something much cooler than the competitor cars of the same specs. This also positively affects the overall worth of your automobile.
The one factor that can be the deal-breaker for most people is their vehicle’s proper and timely maintenance. If the vehicle has been cared for and kept in pristine condition by an official dealer, then it has higher chances of getting a good bargain for you. Keeping the records in the forms of computerized slips from your service shop is a must in this case. Buyers may check the scheduled maintenance through those records.
Before you go away for an inspection of your car, just have a look at what way of the valuation may be most suitable for you.
When you go for a dealership appraisal, you should know everything about your car. That way it becomes easier for you to negotiate. Also, you don’t look like a complete dummy in front of those experts at the dealership. And as discussed earlier, you might not get the best value for your car at a dealership if there is even a minor loophole.
This is one of the best methods to get a car appraised. Because in this form of valuation you are not trying to sell the car to the person you go for valuation. Anyone can easily find a professional appraiser in their locality and can get their car valuated by them. Since they are not on any sides, they will give you a very close to realistic estimate for your vehicle.
This method is for those who are looking to financing a used car. In this case, the lender may come up with an estimate of the car as close to the market value as possible.
One way or the other, all of these methods sure help one get savvier about their car. Or the car they are looking to buy. It is always better to go for multiple options before making a final decision. There are many appraisers who can easily rip you off if you sound anything like an apprentice about a vehicle’s worth in the market. Then there are always some professionals as well who are bound to give you the best possible insight.
If you are looking for a pre-purchase inspection we are available here: Pre-Purchase Inspection Services