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There are online tools available to help determine car value
In a city like Dubai where a lot of families have at least one or two cars, it’s no surprise that the automobile industry is booming. And with Ramadan just around the corner, most dealers offer the best price for vehicles making it an ideal time to buy cars.
But before one heads off to sell or buy a car, it is important to know - 'how much is my car worth' so that you don’t get ripped off. While many dealers offer to assess one’s car, experts say that it’s always better to also do a little individual research before heading to the local dealer or even posting an advertisement.
Learning how to estimate used car values is crucial for those who wish to sell their cars. Owners can now conduct a car valuation assessment themselves, or even use online car valuation tools and guides to determine the true value of the vehicle. Many websites offer online services like used car valuation calculator where, in a matter of minutes, the application will tell you how much is my car worth. All one has to do is to key in the basic details of the vehicle such as make, model, age and mileage, and the system will then calculate its actual value.
Other factors that affect the value of a car are the extent of interior damage, exterior damage such as dents, scratches, past mechanical problems, and dealer upgrades.
The actual condition of the vehicle is something these applications cannot account for. Nevertheless, it does give an approximate price. To overcome this, it is also important to take the vehicle to an expert to get it closely inspected to get a more accurate market price.
• Model, age and mileage are important factors
• Online results from used car valuation calculator give one an idea of the ballpark price
• Professional evaluation still has to be done after
Source: Megha S. Anthony, Special to Classifieds
The writer is a freelancer