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Why is car valuation important?

Getting a car valued is the first thing to consider before you buy one. It is essential to be informed of the different rates available. We recommend that you always get a full vehicle history check beforehand to judge if the valuation you receive from the seller is accurate. Knowing the critical aspects of the vehicle lets you choose between buying a car, choosing a different one or not buying one at all. It puts you in a sound position to negotiate if you are about to buy a used car.

How is it done?

A car valuation informs you how much a car is worth. There are two types of valuation reports that confirm your car's value: Private valuations and Trade valuations.

  • The first type considers the market value if you are buying a car from a private seller.
  • The second gives you the value of a vehicle offered by a dealer.

Reliable trade and private car valuation services in the UK use accurate, up-to-date information to calculate a vehicle's value. They achieve realistic, precise estimates of a car's actual value by comparing the particular make and model with the most recent market price and factor in other elements such as mileage and depreciation.

Do mileage and age have the same effect on my car's value?

More or else, the mileage and age affect the car value. Mileage has a huge impact on buying a used car. It means if you come across a seven-year-old vehicle with 80,000 miles and also the new car with two years might cover more miles, then which vehicle you choose to buy?

It is why mileage and car have the same influence to estimate the car value. No one likes to pay for the new cars, which runs more miles than the limit, as it is a complete depreciation. So, ensure you cross-check both the mileage and age of the used car.

What factors influence car valuation?

How much is your car's worth? It is important to evaluate when selling a used car; getting the best valuation depends on several factors to lower the car value, including the vehicle's physical attributes and its overall condition.

  • Usually, the key factors that affect a car's valuation are the vehicle's make and model.
  • Brands more sought-after than others will have a higher value. Similarly, some trendy colours increase the car's value compared with others.
  • The condition of your car will influence its appraisal. For example, a car in excellent condition with no sign of damage will have a higher value than one with scratches on the body.
  • The car's value is also affected by the number of owners it has had. If you bought the car brand new, you're more likely to get a higher price than if it had several previous owners.
  • Functioning features that make a car stand out from the rest can also increase the vehicle's value. It might include features such as built-in navigation, multimedia systems and reversing cameras.
  • Another factor that can lead to a higher valuation is keeping a complete service history. A history that shows regular servicing, either every year or within appropriate mileage intervals, will improve your car's value.

How Does Depreciation Influence My Car's Worth?

Depreciation affects every single car that is sold, regardless of the original value of the car. Once a brand-new car leaves the dealership, its value significantly drops. It's true that cars with an expensive price tag usually depreciate faster than cheaper vehicles, but any vehicle that is sold will depreciate.

Even if you are the first owner of a brand-new car, its value will depreciate over time. It is because buyer preferences continuously change. For example, a vehicle colour that was once highly desirable might not be as popular now. So, a generic car colour will be less affected by depreciation than an unusual colour.

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