How much is my car really worth?
Whilst you own your car you really should be aware of how much it is worth, you need this information when you are insuring the car, in the event of an accident, when buying a car and when selling a car.
Just because you tell an insurance company you car is worth £10,000 it doesn’t mean this is what they will pay you if the car has to be declared an insurance write off. Insurance companies will look at the value of cars and then make you an offer. They are supposed to offer you the retail value of your car, that’s how much it would cost you to replace the car like for like (make, model, condition and mileage). In many instances the insurers are now offering closer to trade valuations. That is what a dealer would be able to buy your car for, before they add their costs and profit margin.
By checking what your cars trade value is on Free Car Valuations you will be able to make a judgement on whether or not the insurance companies have made you a reasonable offer or not.
Car Value and Additional Information Provided Free
Finding out a cars trade value is also useful when you are negotiating a part exchange valuation when buying your new car. It is also valuable information to have when you are buying a new car from a car dealer. It may give you an indication perhaps as to how much they have paid for the car and how much profit they will have in it. Of course they have to factor in the costs of their advertising, car preparation, servicing, any repairs and warranties so don’t assume the difference between a trade valuation and retail price is total profit. You will be surprised how little net profit there is in some deals.
Also finding out what your car is worth in the trade will help you figure out what you should ask for it if you were to try and sell it privately. A rough guide to private selling prices should be somewhere between the retail and trade value.
Our trade values will provide a guide as to how much you would get for your car in either part exchange or by selling it to a cash for car company such as ourselves. Obviously these are only guide valuations and the price of your car could be worth more or less depending on a number of factors such as:-
- Mileage
- Service History – (full main dealer, independent garages, part history or no history)
- Condition – (bumper scuffs, kerbed alloys, car park dents, scratches and accident damage)
- Number of Owners
- Colour
- Specification – (extras such as sat nav and leather help increase the value of your car)
