Buying and selling of cars are not only restricted to showrooms and retail stores. Individuals who own cars often need to sell their used cars and most other people prefer buying from other users at a lower price. This is a very legitimate way of buying and selling cars but the process in between can be very confusing and tiring – especially for someone doing this for the first time.
There are many things to consider while selling a car to a second-hand buyer such as RTO transfers, used car valuation, service reports, Insurance paperwork, etc. Most of these can be very tiresome to follow through and can take weeks or even months to get through.
Finding the right buyer who understands and values the car and is willing to provide the best possible rate for the car mutually is also very important for both parties. This is why gathering adequate knowledge about selling cars is important before stepping into the game.
Car Valuation for Selling Cars
Car valuation is a process where a 3rd party values the car by examining all the features of the car both mechanical and cosmetic. This 3rd party evaluator usually is an agent or a company that has good knowledge about cars and the market and is able to provide a comprehensive report of the car considering many of the factors that most buyers would be interested in looking at such as:
- Mileage of the car
- Make of the Car
- Manufacturing Year
- Registration Year
- Insurance Validity
- Emission Paperworks
- Tire Status
- Condition of car
- Dents and Scratches on the surface
- Accidental History
- Service Records
- Cosmetic Features (Audio, Navigation), etc
These are some of the features most car evaluators will be looking at. Based on these features, the evaluator comes up with a price range that is fair for the car to be sold.
The owner of the car and the evaluator can work together in bringing up the price to its best value by ensuring that all major works or services are completed in the car. This can help in raising the bargain value of the car.
Points for Car Valuation
There are certain things that a car owner can follow to help keep the cars price at its best during a used car valuation and in order to fetch the best market price for the car such as:
- Keep the car in good shape without any dents or accidental damage
- Replace any worn or damaged parts
- Have a good service record
- Manufacturer warranty products should be well replaced if need be
- Tuning and other alterations to the car usually decrease the price
- Maintain cleanliness of the seats and dashboards
- Keep all cosmetic features functioning properly
- All the paperwork on the car must be preserved
- No pending dues or tickets on the car at the time of sale
- Engine and Battery conditions must be maintained
These are some factors that can help sellers fetch a better price for their car at the market. Some other factors such as having a neutral shade of the car, no stickers or tints, and having low mileage on the car are some of the factors that help the car to get a good price.
First-owner cars are usually preferred by buyers and therefore fetch a good price better than second owners. Some state registrations are also more favorable for buyers than others with a valid NOC.
