Used Car Valuation Process

A well-maintained car with no dents, scratches, or mechanical issues has a higher value. Ensure:

1. Exterior is damage-free.
2. Engine, gears, clutch, brakes, steering, and tyres are in good condition.
3. No unusual noises or leaks.
4. Complete maintenance records are available.

Professional inspections can provide an accurate condition report.

2. Kilometres Driven

Cars with higher odometer readings usually have lower value. In India, average yearly use is 10,000–15,000 km. Cars over 1 lakh km may fetch less, even if well maintained.

3. Year of Purchase

Older cars (10+ years) have lower resale value. Discontinued models may also be valued lower due to harder-to-find spare parts.

4. Service History

A complete service record can boost a car’s price:

1. Regular servicing at authorized or trusted garages.
2. Genuine parts used for replacements.
3. Timely oil changes and routine maintenance.

5. Accident History

Cars involved in major accidents lose value, even if repaired. Cosmetic repairs have minimal impact, but structural or mechanical damages significantly lower the price. Buyers often check insurance claims.

6. Modifications

Aftermarket changes usually don’t increase value. Some buyers may question the quality of modifications, reducing the car’s resale price.

7. Other Factors

Additional aspects that affect resale:

1. Location: Demand varies by city or region.
2. Colour: Popular colours sell faster and at higher prices.
3. Previous owners: Fewer owners generally increase resale value.

Online Tools for Valuation of Used Cars

Based on the above-mentioned factors, you can get a fair idea about the resale price you can expect for your car. If you are not sure about how to value your vehicle, you can use an online tool to get the approximate price of the car. There are many websites that can help you with this task. All you have to do is enter the vehicle details including brand, model, version, location, ownership, etc.

Once you have entered these details, you can get the approximate price you can expect for this vehicle. It must be noted that this tool considers the depreciation value of the vehicle, but it does not account for any damages that may have sustained during an accident. The actual trade-in value of the car might differ a little from this estimate price.

How to Get Better Valuation for a Car?

Used car valuation is influenced by the above-mentioned factors. A used car will go through a certain level of depreciation no matter what you do. However, there are certain things that you can do to get better valuation for your car. Focus on the following tips to get better value when selling in the used car market.

Focus on the following tips to get better value when selling in the used car market.

1. Focus on the exteriors- The exterior look of the vehicle is the first thing that impresses a prospective buyer. If the car is full of scratches and dents, the valuation will be low no matter how good the engine condition is. Hence, fix all the exterior scratches and dents before you negotiate its value.

1. Maintain a service history- Some car owners neglect this aspect of vehicle maintenance. In addition to maintaining the vehicle, it is also essential to save the service records. By showing the service history, you can provide proof that the vehicle is well maintained. Through this way, you can get a better valuation for your car.

1. Ensure proper driving- Most buyers often get expert help to check the condition of a car. If you are a rash driver, an automobile expert can easily identity it through the condition of the car. Moreover, a collision will drastically affect the resale value of a var.

1. Use genuine replacement parts- Replacing worn out parts is a common thing in vehicle maintenance. When you have genuine replacement parts in your car, you can use that to get better valuation for the car.

When you sell a car, negotiate with more than one prospective buyer before finalizing the value.

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score