When you are thinking about how to sell my car then the most critical steps in selling a used car is knowing its worth. Before you decide who to sell it to and how you will go about the process, you must know the value of your vehicle.
Understanding the concept of book value
Two terms are often attached to the worth of a car. This includes book value and market value. Book value is the price that is listed in guides like Kelly Blue Book. Here, the trade and retail prices of various cars are listed. You can find the book value of your vehicle easily in such listings. The values listed here include some of the many factors that are integral to price valuations. This includes external factors like economic growth and trends in the automobile industry.
Another important term in the world of automobiles is the market value of your vehicle. This is the actual amount that will be offered to you when you sell your vehicle. It generally is not the same as the book value. And this is why it is advised that you opt for free car valuations to get a better idea of the worth of your car.
Can I sell my car for the amount I bought it for?
Want to sell your vehicle for the price you got it for? Well, you can’t. Do you know that the price of your vehicle depreciates by 11 percent or more the moment you take your vehicle from the car dealership? So, you can expect the amount of depreciation your vehicle will undergo after years of use. One thing is for sure; you won’t get the same price as the one you paid when you purchased the car.
How can I sell my car at book value?
Do you wish to ensure that you get a value close to the book value? While the exact price may be hard to get, you can get a close value if you do the following:
Don’t drive it much
The mileage of your vehicle is one of the various factors that affect the worth of it. Mileage refers to the total distance that has been covered by the vehicle. The higher the mileage, the lower will be the worth of your vehicle. Why so? This is because the more a given vehicle is driven, the more it would have undergone wear and tear.
Sometimes even though the car’s components are working, they might not be in the best shape due to excessive use. So, if you wish to get the book value, it is advised that you don’t drive the said vehicle often. This is very hard to ensure since at the end of the day the whole point of having a car is to use it. You can only control the mileage of your vehicle if you buy it as an investment and not as a way of commuting.
Repair your vehicle
Does your car feature a lot of dents and scrapes? If so, its value will automatically go down. After all, potential buyers wish only to purchase cars that are in the best condition. Put yourself in their shoes. Will you ever buy a car that doesn’t work suitably? There is a high chance you won’t. The same goes for potential car buyers. This is why you must ensure the condition of your vehicle by investing in repairing it. Get it checked from a mechanic and they will tell you what repairs are necessary. For starters, you must make sure that the various components of the car including its brake and lights, work properly.
However, this isn’t the only type of repair you need to invest in. Instead, try to improve the visual appeal of your car. First impression matters in the case of automobiles as well. Even if it works perfectly, if it doesn’t look nice, you won’t get a good deal for it. Therefore, improve the appearance of your car by:
- Removing all junk items from within. Your potential car buyers shouldn’t be appalled by it during their test drives
- Clean all the mirrored surfaces as well as the windows of your vehicle. A sparkling clean car always looks better
- Remove the dust from the brakes and accelerator to make the car look new
- Apply tire gloss on the tires to make them look unused
Have your service records sorted
The resale value can get close to the book value of your vehicle if you maintain it well. However, there are certain aspects of servicing a car that cannot be visible to the naked eye. For instance, you can’t check if all the inner components are serviced. At such times, you might think that people will rely on your word and believe that you have serviced your car. However, most customers tend to be distrustful and skeptical of car sellers. So, make sure you have all your service records as proofs. This will amplify the value of your vehicle.
Don’t paint your car in odd colors
Do you have an eccentric personality? Do you like having your possessions to be an extension of you? If so, you might have painted your car into colors that are unconventional. Well, we hate to break it to you, but car colors also play a part in the final price that you are offered. And mostly, people don’t like bright colored cars. Instead, they like primary shades like black, grey, white and silver. So, if your vehicle features bright hues like maroon, green or yellow, its price will go down. To increase its worth and bring it close to the book value, consider repainting it.
Conclusion
With the help of the ideas mentioned above, you might end up bringing the worth of your vehicle close to the book value. This is the finest deal you can get for your used car. Sell it off for cash and get your hands on the latest models instead.
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