How to Determine the Value of Your Second Hand Car

The moment you decide it is time to sell your car, you must consider how much you are going to ask for it. There are a lot of different factors that affect the value of a second hand car. This includes everything from the car’s condition to how many miles are racked up on it. Thankfully, it is not too difficult to determine the value of your used car. Check out five ways to figure out how much to sell your second hand car for below:

 

1. Find Out Information on Your Vehicle

Before you start crunching numbers on how much to list your used car for, it is important to gather up all of the necessary information on your vehicle that will play a part on its value. Find out the year of the car, the make, the model and the trim level. If the vehicle comes with any optional features, note that down too. Before settling on a value, you should also take a look at your original sales paperwork to make sure you are not missing out on anything major. Again, those optional features can really add on a lot of money to the car’s resale value.

 

2. Learn the Current Mileage

Take note of the current mileage on your car. The less miles you have accumulated, the more desirable the vehicle will be. That’s because as the miles increase, the chances that your vehicle will experience issues goes up too.

 

3. See If There Are Any Warranties Still in Effect

You may even want to look at the owner’s manual for a list of the different warranties that came with the vehicle to see if it is still under warranty. A vehicle that still falls under warranty will definitely bring up the value of the second hand car you are trying to sell. You will also need to check what the terms of the warranty are and if they are transferable. If there is a transfer fee, decide whether you are going to pay the cost or leave it to the buyer of the second hand car.

 

4. Research Nearby Second Hand Vehicle Values

Once you’ve found out all the vital information on your car, it is time to go out and research second hand vehicle prices for similar cars near where you live. This means you may need to visit the SG car mart or take a look online at some pricing sites. You should also check out your local newspaper as well as any other publications that have a classifieds section. This way you can see what vehicles similar to the one you are are trying to sell are going for. Remember, it will be very difficult to sell your vehicle if you are overpricing the car by a great deal of money.

 
5. Determine the Condition of the Second Hand Car

Thoroughly examine your car for its current condition. Potential buyers want to know about every ding and paint scratch before they place down any money on the vehicle. The condition of your vehicle will ultimately help you land on a price for your second hand car, as things like dents and stain will significantly bring down the car’s value. To get the best price on your second hand car, see about getting your vehicle detailed by a professional. You may even want to bring in an expert to get rid of any noticeable marks on the vehicle. This small cost you put out will actually increase the car’s value, making this move well worth it.
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