The value of all cars depreciates with time; however, the rate differs from one vehicle to another. The rate of depreciation for some cars might be lower compared to others. Among the several factors that influence the decision to buy a car, the car’s resale value is an important factor. Earlier it was difficult to assess the car value. However, with the advancements in technology, there are different tools available easily from where you can get the real value of your car. The method to find out the true value of your car is simple. You need some basic information. There are online resources too where you can find OBV value. Buyers in this market are showing increasing interest in used cars, especially premium cars. Last year (FY19) almost 40 lakhs used cars were sold pan India which was 0.6 lakhs more than FY2017. The organized sector of a used car has also expanded remarkably from 10% in FY2011 to 18% in FY2018. Noteworthy news is that over the last 5 years more than 5000 crores have been invested in forming and expanding the online market of the country.
Check car valuation to know its true value
Finding out the cost of used cars is of paramount importance when you plan to sell the car privately. This way you can have an idea regarding the profit you shall make when you sell the car. You should also know the value of your used car as a seller to ensure you do not lose out the profit by quoting a lesser price than the standard price.
Moreover, finding the value of used cars has certain positive attributes. You will not have to visit a car dealer and therefore you do not have to pay for the charges of a dealer. The professionals who would have helped you would have charged fees to do this simple thing. However, you do not need this anymore.
What is a used car valuation tool?
The value of a vehicle drops from the moment you buy it. The depreciation continues with each year. In the very first year of buying, the value of the car depreciates by 20 percent. The model and make of the car, overall car condition, total kilometres are driven, and other factors further affect the resale value of the car. The used car valuation tool considers all these variables for identifying the present value of the car or whether the price quoted on the used car is fair or not.
You can find out the value of your car within a few seconds. It is a simple process. You have fill in the details of your car including model, brand, registration year, variant, etc and then click on the check valuation. This tool will work like a magic and will arrive at the right price range if a used car that you want to buy or sell.
Does the car valuation tool give an accurate price?
The car valuation tool is based on the proprietary algorithm of the brand that uses data science to predict the accurate market value of the car. You can rest assured that this tool arrives at the price by factoring the variables such as the car’s model, condition of the car, total kilometres travelled, and others. It is updated regularly considering the current market developments and trends. This way you can have an unbiased valuation of your car.
How Car Valuation can help buyers and sellers?
With the help of car valuation tool, buyers and sellers can check used car valuation. As the valuation tool considers various factors that affect the value of the car, it is exhaustive and it gives you the best value that the car can fetch rather than when you research personally. It is a transparent process for buyers and prevents them from being charged higher prices. If you buy used cars through bank loans then the tool is useful for banks to give you fair pricing.
So, if you want to buy or sell your car, you can find out the price of your car using a car valuation tool. You can also contact an online platform like Droom for technical help in this matter.