Getting car valuations

There may be a number of ways of getting car valuations and you may find some of them to be of more use to you than others:

  • hope and wishful thinking – this is slightly tongue in cheek but it is a fact that some people may believe that their vehicle is worth what they think it is worth rather than what objective market valuations otherwise indicate to be the case (this may be a common cause of failing to sell a motor vehicle – i.e. the price being asked is simply too high);
  • magazines and periodicals – some of the glossy magazines occasionally offer valuation estimates for vehicles that are not explained or attributed to a recognised industry source and this may lead to erroneous assumptions about the value of a vehicle being prepared for sale (perhaps setting expectations too high or even too low);
  • precedent and anecdote – what someone tells you they sold a similar vehicle to yours for, may be no realistic guide to where you should set your expectations, as it may be unlikely that the circumstances surrounding the sale are identical to yours (for example, they may have simply being extremely fortunate or unfortunate);
  • professional trade sources – there are online sources such as Glass’ and Parker’s guides which may be able to offer you a basic valuation of your vehicle based upon its registration details etc;
  • potential purchasers – ultimately it may be a bitter pill to swallow but in the final analysis, the value of a vehicle you are trying to sell is only that which buyers in the marketplace are willing to pay for it at a given time. This reality may be irrespective of whether you are trying to sell it privately or to a specialist car purchasing organisation;
  • demand – linked to the above point, some vehicles may simply be more in demand at a given time than others. These peaks and troughs may vary at almost any time in the year and may significantly influence on car valuations and the price you may be realistically expected to get for your vehicle at a given time.

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