Well, when it comes to valuing your car we are the ideal choice. Why? Because we don’t believe an algorithm can provide the perfect valuation for your car. Hence, Premium Car Buying Service does a manual analysis of your car and based on that provides you a valuation which is the best in the market. Our valuation not only takes into account all the environmental factors affecting the valuation of your car like time of the year, age, model etc. but also considers the optional extras added on the car by you.
Car Valuation is the process through which the current selling price of a car is determined. There are multiple factors which affect the valuation of a car. These factors are things like model of the car, mileage, time of the year, demand for the model, registration status, service history, previous ownerships etc. It is imperative for a car seller to know the right valuation of their car cause otherwise they might end up losing out on a lot of money.
Most online car buying companies provide an automated generated price based on the details entered by you. We believe a car should be valued manually because there are many factors to be taken into consideration which cannot be quantified or put in a formula. These algorithms also don’t take into account the modifications done by you like full leather interior, panoramic roof or built in satellite navigation. Hence, we don’t provide an instant formula based valuation but call you instantly as soon as you put your registration no. on our website. Our Brand Valuation Expert will give you the perfect valuation based on all the details provided by you.
There are a lot of factors affecting the value of the car. some of which are fixed and some keep changing. Hence, the valuation done today might not be the same as the valuation done after a month. Here are some of the major factors affecting the valuation of your car:
The age of a car is the most crucial factor in the valuation of a car. Every car is affected by age depreciation which causes the car to lose its value over the years. In the first year itself a car can lose from 15% to 35% of its original value on the make and model. Over a period of three years a car can lose upto 50% of its original value.
Mileage is the total miles that the car has been driven in its previous ownership. This lets the buyer know how often the car has been used and so can determine the wear and tear of the car. The less the mileage, more the valuation i.e. if a car has ridden for 50,000 miles in 2 years, the valuation will reduce because 25,000 miles in a year means the car has been driven on a regular basis and has gone through a lot of wear and tear.
The size and category of the car also plays a crucial role in the valuation process. Whether it is a luxury sedan or a 4x4 luxury SUV the valuation differs based on the demand for the make. The cost depreciation of luxury cars is usually more than that of regular cars mainly because of the running and maintenance cost associated with them.
If the car is in company warranty then the valuation is higher. Once the car is out of the warranty period the valuation decreases. Usually all the cars have a 2-year warranty period, and hence, the valuation is higher during this period. An extended warranty always is helpful while selling your car.
Any add-ons on your car will also be considered in the valuation. Whether it is a full leather interior or a panoramic roof, it will be taken into consideration while valuing your car. These things are considered by Premium Car Buying Service and no other online buyers as their valuation process is automated.
These are just a few of the things taken into consideration while valuing your car. For more information please enter your cars registration details below.