Anyone who’s decided that it’s time to let little Betty Beetle be loved and cherished by a new owner finds themselves with this question. How much is my car worth? For some of us it’s pretty important to know this as soon as possible as it often determines how much you can spend on your new car.
Here’s a rundown of your options to work out what your car’s worth.
You can go to websites such Gumtree and put in your car features-make/model/year/kms and see what someone else is advertising their similar car for. There are a couple of issues with this approach.
- It’s pretty rare that you’re going to find the exact model, so you can only get a ballpark value.
- The price for similar cars can vary enormously due to the car’s condition-panel damage, interior damage
- Private sellers generally inflate their price to keep themselves open for negotiation.
- Dealers add profit into the price of the car and also inflate it so they too are open for negotiation.
While you’re going to get an indication of what your car is worth, depending on the type of car, this can vary by anywhere between $1,000 and $10,000+ from what you might actually receive. So it’s a guide only.
You’ve had a look online at the value, but thought you might see what a dealer would be willing to pay. This can be a little depressing. The dealer will offer you a wholesale price, which is nearly always a lot less than if you sell your car privately. This is because dealers are in business to make money, while private sellers are looking to maximise their return and sometimes looking for just enough to cover their balloon payment if the car is financed.
Online quote range
At HelloCars, we’ve created a better way so that you can have certainty about the value of your car. Simply input your details and you’ll get an instant quote range. If you’re happy with this, you can organise for one of our inspectors to evaluate your car and when it is HelloCars certified we’ll make you a firm offer. And when you sell it through HelloCars you car will be sold in 30 days guaranteed.
So next time you want to find out what your car is worth, take the uncertainly and confusion out by getting an instant quote range from HelloCars!