Introduction
Are you thinking of selling your car? It may sound easy. Take a few pictures. Put up an ad and wait for calls. But this is what most people get wrong; they don’t check their car valuation first.
Unless you know how much your vehicle is really worth, you are just guessing, and guessing can cause you a serious loss. You might undersell it and lose a chunk of money you deserve or overprice it and watch serious buyers walk away without calling back.
Knowing your car valuation provides you with the basis for a reasonable transaction and sets the ground for a fair deal. It enables you to negotiate with confidence and spares you the regret of a sale you can’t undo.
Thus, if you want to sell your car wisely, understanding car evaluation becomes imperative. In this article, I will walk you through the various ways you can check your car’s market value.
What Car Valuation Really Means
Car valuation determines what your car would sell for today. Not what you would like it to be, not what you bought it for, but what someone will pay you today.
It will help you understand what’s fair before selling your car. If you don’t know this, you might ask for too much and get no buyers or ask for too little and lose money. Your understanding of how to price your vehicle will enable you to sell at the right price without any regrets or confusion afterwards.
Also Read: Understanding Advanced Driver Assistance Systems (ADAS) and Their Impact on Vehicle Safety
What Impacts Car Valuation?
Age and Depreciation: Cars lose their value every year and depreciate around 20% in the first year and about 15% to 20% every subsequent year, so a five-year-old car can lose half of its original value.
Mileage: A car with 40,000 km on it will always attract better bids than one with 95,000 km to its name. Prospective buyers read the odometer reading very carefully.
Condition and Maintenance: Dents, scratches, an unclean interior or no records of servicing will reduce your valuation in a flash. A well-maintained, clean vehicle can always help you get a higher quote.
Location and Demand: Demand for certain models also varies regionally. For instance, if you happen to live in a big metropolitan city like Delhi or Mumbai, you will usually get better resale rates than in smaller cities.
A Step-by-Step Guide to Check Your Car Valuation
Gather Your Car’s Details
Write down your car’s production year, specific model, kilometres travelled, fuel type, and city. Details are important here. The diesel version might be priced differently from the petrol version of the same model.
Use Free Valuation Tools
You can use online car valuation tools like Orange Book Value. These tools let you enter your car’s specifics and provide you with a ballpark figure. A lot of these tools are based on vast data sets derived from what similar vehicles are selling for in your city. It’s a quick reality check for your vehicle.
Check Local Listings
Check local listings online and search for your car’s model, year and comparable mileage in your city. If you start seeing people list cars like yours at ₹5–6 lakhs, on average, then that’s your realistic price.
JKCarMart is a reliable platform for checking local listings in Jammu and Kashmir, as it only lists verified second-hand vehicles and lets you see what cars are actually selling for these days.
Factor In Your Car’s Condition
Your car’s condition matters in setting its market value. If your car is scratch-free, has brand-new tires, or has a recent battery replacement, you may price near the higher end. But if your car needs maintenance like a new clutch or has visible dents, expect to adjust lower.
Consider Scrappage For Old Cars
If your car is 15+ years old, there’s a good chance your car won’t sell at the resale market. In that case, you should look for scrap value, which usually sits around 5% of the original price. It’s worth checking if your state offers scrappage incentives too.
Also Read: A Guide to Understanding Software Defined Vehicles
How To Maximise Your Car Valuation
If you want to get the best price for your car, you should keep in mind the following points to get a higher final sale price:
- Keep your service records organised.
- Fix minor issues like a scratched surface or a broken mirror before listing.
- Clean the car well before photographs and viewing.
- Be truthful in listing descriptions.
- Price your car realistically, but leave a small buffer (around 5–10%) for negotiation. To avoid back-and-forth with buyers.
Conclusion
Getting your car valuation right helps you price your car fairly, handle negotiations without stress, so that you can avoid the frustration of low offers and endless back-and-forth with the buyers if you have set the right price.
And when you are eventually ready to sell or buy after checking your car valuation, JKCarMart is a reliable platform to list your car and get the right price. We at JKCarMart only enlist genuine sellers and enable direct contact between the buyer and the seller for a smooth car-buying experience.
