There are a range of factors determining a car’s value. Below is a list of some of the most important features.
Age
Of course, this is not to recommend that your vehicle’s age will not impact its worth; it will, but it is something you cannot influence.
Mileage
Mileage is a significant predictor of how much your vehicle is worth since it shows how much life is remaining in the car, not just the motor. Low-mileage cars often sell for 20-30% more than similar vehicles with higher mileage.
Engine type
Diesel car values have dropped somewhat in recent years. However, they have recovered slightly in recent years, with Euro-6 diesel sales still famous for more oversized vehicles – particularly older-style SUVs and vans. Despite this, it might be a good idea to sell your diesel, since electric cars will be prevalent in years to come, and diesel prices will inevitably fall as new diesel, and petrol cars are banned in 2030.
Condition
The more valuable the car, the more critical the condition is to buyers. At £1000, used car buyers don’t expect much. But, when they push into the £3000-£5000 range, they expect a lot more. Be realistic about the bodywork.
Model & colour
Odd-coloured and unwanted cars are harder to sell, so their price is reduced. A Ford Focus in a neutral shade like black on the used market will fetch good money with a 1.8 turbo diesel engine.
Typically, a Ford focus Estate with a 1.4 petrol engine, high mileage and colour like burgundy will be worth 15-30% less than the popular equivalent.
Where do you value it?
Depending on where you value it, your car might be worth £800 to a dealer, and it might be worth £1000 to an auction-site buyer. However, the dealers are middlemen offering low prices, while online buyers are end-users, who usually pay a little more.
Bear in mind, just adding the exact mileage and options can affect the price of the vehicle by 30%. Therefore, if you want to vend your car at an excellent price, you better opt for the paid valuation. Set your vehicle’s value according to our estimates, and you will have no remorse.
Valuations for Cat N and Cat S cars
A car gets Category-S when the insurer deems the repairs it needs are not worth its current market value. The vehicle can come on the road after the necessary refurbishment and re-registration with the DVLA. Similar is the case with Category-N cars, which can perform driving duties after proper repairs without re-registration. A rule of thumb is the repair-worthy written-off vehicles are worth between 10% and 30% below the normal ones.
Does car service history impact the car value?
There’s always the assumption that a vehicle hasn’t been adequately maintained without a service record. Although any history is essential, service history can make less of a difference as it grows older and its value declines based on the motor’s mileage and condition. It’s also important to consider what service isn’t documented (for example, a small or significant service) and how valuable the auto is due to its brand and kind.
Summary
A car valuation tool will be the best place to find out your car’s worth, value, or range before selling or buying. Here are a few websites which can offer you a valuation.