Importance of Estimating Used Car Value before Making a Buying Decision

Estimating Used Car Value

The used car market in India is segmented by model types such as Sedan and Hatchback, fuel types such as petrol and diesel, and market type organized and unorganized. The used car market in India is growing fast. In 2020, it was valued at US$27 Billion and projected to reach US$50 Billion by 2026. It seems that the COVID-19 had little impact on the market.

Once you have made up your mind to buy an old vehicle, getting the valuation of the car must be on the priority list. It will not just help you to negotiate the car value confidently but also get the right resale value for your vehicle.

Some of the benefits to estimating the used car valuation before buying it are discussed below:

  1. Get the best car deal

Getting a fair estimate of the car’s value is a definite way to receive the best value for a used car. When you buy a car, you want to receive the maximum value for it and the objective is just the opposite for a car dealer and the seller. You should be aware of these things and get the estimated resale value of a used car from experts. One more option is available is that you can get the best value of a used car through the OBV car valuation tool.

  1. Getting protection against bad practices

The dealership is an important stakeholder in the buying and selling process of cars. Dealers are a good option when you want to buy used cars. Dealerships are also infamously known to sell cars at very low prices. When you decide to buy cars at dealers through an exchange offer the discount you shall get on new cars is less than buying new cars.

  1. Confidence during negotiating the value of cars

Knowing the value of your car beforehand can help you negotiate with buyers confidently. In all situations, if you sell your vehicle privately or to any dealership executive, the valuation report of your car shall boost your confidence and also help you receive a good deal. When you supplement the evaluation of your vehicle with the inspection certificate and history report, it shall encourage car buyers to buy cars at a great price compared to the market value.

  1. Best exchange deal

You may be interested to exchange a used car for a new one. Dealership executives try to undervalue used cars in exchange offers, however, if you know second-hand car valuation in advance, you can get a better deal. At times, dealers provide good value for your used car during an exchange offer, however that reduces the discount being offered on a new car. To avoid this, ensure that you contact a few dealers instead of depending on a single dealer. Get a quotation for your new car without and with an exchange offer to know whether there is any difference in discounts being offered on new cars if you trade your used car.

You can opt for a better alternative than the complicated and lengthy procedure. You can check used car prices online and get the best price within a couple of seconds. This way you can buy your car and also get the best used car valuation. The transparent and quick procedure of the online car portal makes it a preferred choice among pre-owned car dealers.

  1. Peace of Mind

When you know the fair car value you can buy your used car competitively. You can get the best value of a used car through the OBV car valuation tool. A good deal for your used car shall make you happy. If you find the price you are getting by buying a used car is what you have valued then you will feel good. Thus, getting a used car evaluated before you buy it is recommended just not for economic reasons but to give you peace of mind.

If you access online portals, you will get a completely different experience. You will get the OBV value of a used car, which will be the indicator of the fair market value of your car. The used car markets are becoming organized with online car dealers. Online car dealers have opened up new opportunities and avenues to buy a used car at the best rates.

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