Have you ever asked yourself – what is my car really worth? Here’s how to find out…
If you’re looking at selling your car, there are a couple of things you can do to increase the resale value of that vehicle. This includes, of course, staying up to date on the maintenance and services. It also includes making sure that all the little odds and ends are in good working order, such as the windscreen wipers and all the lights. Keep the car clean and polished and smelling fresh – don’t treat it like a dustbin. It doesn’t hurt to get all the little dents and scratches repaired, or any cracks and chips in the windshield.
Also read: When should your tyres be replaced?
Generally speaking, a car is one of the biggest investments you’ll ever make. As a seller, you want to get the best deal possible for what you’re offering. As a buyer, you want to spend your money on something worthwhile. So, if your vehicle is in good condition, the better your chances of getting a decent offer for it.If you know the value of your vehicle, in general, then that’s a pretty good place to start. Luckily, one of SA’s most well-respected vehicle auctioneers, Darryl Jacobson, has created an amazing tool to help you out.
Jacobson launched a new company at the beginning of June this year, called True Price, and it’s expected to revolutionise the way vehicles are traded in South Africa.
Let’s take a look.
As far as we know, True Price is the first of its kind in the world. South African motorists, dealers and auctioneers are able to use the service, absolutely free of charge, in order to get accurate evaluations of a vehicle’s worth.
In order to achieve this, Jacobson and his partners have attended countless auctions, because they believe that the prices achieved on auction are a true indication of a car’s worth. They have gathered huge amounts data – and continue to do so – adding it all into a giant database of prices attained on auction.
With a user-friendly website, motorists are now able to put in some basic information about their vehicles and receive an accurate estimation of that car’s true worth. If you’re planning on selling the car, this should then give you an indication of what kind of price tag to put on it.
The system makes perfect sense, to a degree. The valuation given is realistic, in the sense that these are reflections of actual recorded sales. So, when looking to sell your car, or trade it in, knowing exactly what your car is worth allows you to – as Jacobson puts it – interact with the dealer with authority.
The only problem is that, though the website does ask motorists about the condition of the vehicle, there’s no true way of knowing the extent of any damage or how much value you will lose.
So, again, it’s only an estimate, but it’s about as accurate as you’re going to get.
Now that you know what your car is worth, you can begin to market it. As we mentioned in the beginning of this article, there are many other factors to take into account in order to ensure that you and the buyer will both end up happy.
As mentioned, one of these factors is taking good care of the vehicle. Clean it, maintain it, service it and touch it up a little before selling it. These things will add to the resale value.
There are other things to keep in mind as well, such as;
The Timing – If you’re selling a heavy duty 4X4 or an SUV, chances are that you’ll sell it faster in the winter. If it’s the rainy season or cold and miserable the way it is in many parts of SA right now, you’re not really going to buy a convertible, are you? The seasons are important, and selling a car in the New Year generally works out better as well.
Know What’s Trending – It may sound a little bit sleazy, but it’s important to capitalise on trends. Diesel engines, for example, may be more popular right now because diesel is cheaper than petrol. Other features which may interest people could be infotainment systems, leather seats, the latest tech or even just a colourful history. If you’ve got it, flaunt it. It will boost resale value.
Know The Car – Cars with high mileage on the clock always sell for far less, so it’s important to know these things. If you’re a smoker who smokes in the car, this will also impact the resale value. If your car has ever been involved in an accident and had to be repaired, this, of course, also impacts the value.
The above content was supplied by CompareGuru.
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