How Much is My Car Worth? Find-out the Value of Your Vehicle!
Years ago, you spend big money on your vehicle. For most people, buying a car is the second-largest transaction they make in their life, only surpassed by buying a home. All the bustle and excitement of buying a car has worn off now, along with the sparkling finish your new car you used to have. Now you’re looking at what’s next, and that needs an knowledge of your car value.
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It’s no secret, cars are not an investment. From the first moment they’re bought, they depreciate. A car’s value diminishes quickly at first, then slows after a few years. Make no mistake about it, though: your car valuation will always trend downward, and the more damage it has, the lower it drives the price.
Thinking about, “How can I value my car?” Let’s take a look at a few things to help you get a greater idea of its worth.
How Much is My Car Worth?
There are plenty of ways to determine your car value. It depends on a few factors, though, and you’ll need to accurately appraise your vehicle.
If you’re looking through rose-coloured glasses, it’s very easy to overvalue your vehicle and that’s when you become disappointed in the price you get for it or in how much attention your vehicle listing receives.
For an Undamaged Used Car
If your car is still in good condition and has all its parts attached, that’s a very good start. Undamaged vehicles usually have very few problems selling even when the mileage is abnormally high. For undamaged cars, you can try selling your car privately, selling it at an auction, or trading it in at a dealership.
The car value when badly damaged, totalled or not running will be definitely lower. It could be anywhere from half of your car’s undamaged value down to nearly nothing.
Car Value Estimator Report
The common sites to buy car value report are CarJam, Motorweb or AA in New Zealand. With these sites, you can simply enter your vehicle details, options, mileage, and condition. The website will give you an approximate range of values based on vehicles just like yours that have sold recently.
If your vehicle doesn’t fit into the criteria on the website, you’re not going to be able to get its value this way. Whether your car has been heavily modified or it’s been unintentionally modified in a collision, it doesn’t meet the criteria for a car valuation in this way.
Car Value Trade-In
Another option for good used vehicles to be appraised is at the dealership. A car trade-in evaluation is performed by a manager at the dealership, taking into account your vehicle’s current condition, mileage, and options. Most dealers will also consider options and accessories for the valuation.
The downside with a trade-in assessment is that it weighs in favour of the dealership who expects you’ll be trading it in with them. They’ll typically give you a car value trade-in that’s less than you’d get from selling it, citing things like repairs, reconditioning fees, warrant and certifications that will need to be done on their dime. And let’s not forget that dealerships are structured to make a profit on every vehicle, including the car you trade-in.
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How Much is a Scrap Car Worth?
What if your car isn’t a good used car anymore? If it’s a ‘hitter’ or it’s been considered a total loss, if it’s not running anymore or you don’t think it’s safe, or if you’ve considered just dropping it off at the scrapyard, your average car estimate tool isn’t going to be much help. Your car worth appraisal to get the best price for scrapping a car depends on several factors.
A scrap car’s value depends on who will buy it, and a car value when totalled is a part of the price of a good running vehicle. Here are a few tips to help you estimate out how much to expect.
- A vehicle that has been marked as restored will reduce your value by at least 30%. That’s compared to the same vehicle in the same condition after your car has been fixed.
- An unrepaired, undrivable scrap car is typically 40-350% of its book value in rough condition.
- Most scrap cars sell for $50 to $1500 with most scrap cars selling on the lower end of the spectrum.
How Much is My Car Worth on Trade-In?
If you have a scrap car, its car value trade-in is almost zero. A car dealer doesn’t have any desire to take in heavily damaged cars. It’s more trouble for them than it’s worth. They might reject your damaged car as a trade-in or they could offer as little as $50, thinking they’re doing you a favour in dealing with it on your behalf.
But if You Sell to Atlas Auto
The better way to sell your scrap car fast, easy, and at the right price is with Atlas Auto. We want vehicles in all conditions, whether in good condition or scrap. Accident cars, flooded, burned, deregistered, unwarranted, scratched, dented, not running – we have buyers that are interested.
Request no-obligation free quote for your car in as-is condition. It’s easy, free to use, and there’s no obligation.