The Benefits of Using a Car Valuation Service over Traditional Methods of Selling a Vehicle

Car valuation services are companies that offer a valuation of your car, usually with a view to purchasing it. The process is usually helpful for anyone wishing to sell their car quickly or those with only a vague idea of its value. 

Being aware of your car’s current value is a very important. It can be more relevant than finding out the price at which the vehicle was bought by its previous owner. The present value determines the appreciation or depreciation that will affect the final price. Having the right valuation company carry out the process for you ensures that you get a good price which you can use to sell your vehicle or trade it in for a new one. 

Valuation companies have access to large databases from which they obtain information regarding the entire valuation process. However, they often need the car owner to provide a few details about the vehicle. Such details may include:

1. The car’s registration number
2. It’s mileage
3. History records; showing vehicle servicing
4. Number of past owners
5. The current owner’s name
6. Their email address
7. Postcode 
8. Telephone number

These and other details assist in locating the car from a large database. The information is updated often to ensure that sellers are offered the latest values. Companies differ in how they carry out their valuation processes. Some may not offer car buying services, meaning that you may need to find a buyer yourself. However, those that have links to dealer websites, car leasing services, leading car auctions, amongst others may provide the service. 

Below are the benefits of using car valuation services over traditional methods of selling cars:

1. A valuation on your car helps you to get an idea of its market value. This ensures that you don’t end up making poor decisions with regards to the selling price. 
2. It ensures that your buyer doesn’t pay more than what’s required. A good deal gets them value for their money.
3. Selling a valued car makes sure that you’re not asking for a lower price than what is right. An undervaluation only results in losses. An overvaluation, on the other hand, makes it difficult to sell. 
4. When part-exchanging, an already established vehicle value ensures that you don’t feel pressured to accept an offer that you’re unsure of. 
5. A professionally valued car gives its owner some leverage. This is essential if you have no knowledge about the car market. You’re able to negotiate the price and spot buyers who drive the price too low. 
6. Before selling, you get to have your vehicle valued by professionals who have access to years’ worth of knowledge and specialist tools. This ensures that mistakes are minimized.
7. If you decide to sell the car on your own, acquiring crucial information might be difficult. Having a car valuation company do that for you lifts the weight off your shoulders. You get assistance from a professional agency with plenty of reliable resources. 
8. Valuation companies that offer car buying services act as a ready buyer for your car. This removes the need of going through the process of finding a buyer all by yourself. However, this may have you selling the car at a lower price than if you had sold it privately. 

For how long is my car valuation valid? 

Usually, a valuation on an item is valid only for a short period after the process has been completed. This could be up to 7 days or beyond. Figures given remain unaffected up to a certain point in time. This is because of external factors, such as fluctuations in demand and market value, come into play. They normally have a negative impact on the car’s worth. 

Examples of such factors include: 

1. Age: The longer you wait to sell your car, the older it gets. Generally, a new car loses up to 35% of its original value after a year of ownership. Over a period of 3 years, it could lose up to half of its initial value. 
2. Mileage: If you decide to use your car before finding a buyer, you’re adding to the car’s mileage. This will definitely take a toll on its performance in the future. Higher mileage means a decrease in value; further usage increases the level of wear and tear. 

Other factors that will affect the overall value of a car include: 

1. Service history: Used-car buyers often want to find out how well the car was taken care off. Such information is usually found in the car’s service history log. Plenty of information brings about confidence in the selling process. Keep all your MOT and service documents safe. 
2. Vehicle category and size: Higher-priced luxury car models often have a higher depreciation rate; the same applies to big cars. This is due to high maintenance and running costs. 
3. Manufacture warranty: A vehicle sold with an outstanding warranty from its manufacturer often leads to a better price. It adds onto the vehicle’s value. In addition, extended warranties have a larger effect on the value compared to shorter standard warranties.
4. Extra vehicle features: For example: leather seats, cameras, desirable color, sat nav system, etc. These add onto the value of the car. 
5. No damages: The entire valuation process is based on the vehicle’s overall condition. A car that’s in excellent condition could easily be worth more than the guide price. 

If you decide to use multiple valuation services, values may differ. Valuation companies and websites don’t all use the same process. Some may not take as much information as others. Insufficient details only lead to unreliable and vague estimates. A good valuation will have the owner break down all the details of the car. These refine the final estimate and maximize on accuracy.