How Car Dealerships Value Your Car

How Car Dealerships Value Your Car
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When you’re looking to sell your car, you have a few options. Online car selling can be fast and easy, but you may not get the most cash. If you know what you’re doing, selling to a dealership can give you the best of both worlds! Not only will it be extremely convenient to sell through a dealership, but you can actually benefit from a good valuation on your vehicle. In this article, we’re going to take you through 6 brilliant tips on how you can expect a car dealership to value your car. Knowing this information will be crucial for you to get the best deal possible. After all, you won’t want to miss out or be ripped off by car dealerships by not knowing the intricacies of car values.

1. How Old is Your Vehicle

No matter how much you love your vehicle, it’s not going to be worth as much as when you bought it. Dealerships will pay attention to the year of your vehicle and so should you. If you have no idea how old your vehicle is, it will be very difficult to negotiate a favorable selling price. Knowing how old your car is will help you estimate the value of your vehicle before negotiating, allowing you to get the best deal possible.

2. Reviewing Accident History at a Car Dealership

Has your car been damaged over the years? A used car dealership will still likely be interested in your vehicle even if it has an accident history, but it’s important to factor this into your price estimates. We recommend going to a mechanic to help evaluate your car’s value if you are unsure. There are also numerous websites that can help review a car’s accident history.

3. Brand

Obviously, everything else being equal, a used Porsche is going to have a higher car value than a used Honda and no smart car dealership is going to ignore that. Some brands age better than others. Some vehicle brands will require more repairs than other brands as they get on in years. Knowing if your vehicle’s brand has a good reputation for longevity and resell value before you enter the negotiation ring can help you get top dollar for your car.

4. How Many Miles are on Your Vehicle

Mileage is another key component to your car value. Having too many miles driven on a vehicle can be a big red flag for a car dealership when you sell or trade in your car and will translate to a lower price for you. You can search online to compare price differences for vehicles of your make and model at different mileages.

5. Equipment and Upgrades

A car dealership will want to see what options and equipment your vehicle comes with – did you get the cold weather package? What sort of dashboard tech do you have? When estimating the price of your car, it’s important to remember the value added by any upgrades you may have made. Certain upgrades may make your vehicle less desirable to most buyers and therefore could make it harder for a dealer to sell, others, however, will positively impact your car’s value.

6. Wear and Tear

When you sell your car, dealerships are going to look at is the degree of wear and tear. Has your vehicle been operating well or have there been some recent mishaps? The people working at car dealerships are going to scrutinize your vehicle to see if all components are working. You should approach negotiations with an understanding of the components that are functioning well and those that may need servicing. All these things will affect your car value.

Conclusion

We hope that our advice is beneficial to you and that you can enter a car dealership and negotiate with confidence when you sell or trade in your car. Knowing everything about your vehicle will be key to getting a good price, so get familiar today and cash in on any vehicles that you have.