The Ultimate Guide to Car Valuation NZ

No matter how hard you try to keep your vehicle’s repair and maintenance costs low, you cannot really avoid it. In fact, every automobile starts losing value the moment you drive it from an auto dealership.

Likewise, every vehicle ends up into the heap of junk once it reaches the scrap stage. But whether you decide to trade in your used vehicle or drive it into the ground, it is a crucial decision. Even if you think of replacing it with a brand new and shiny vehicle it would drain huge money from your wallet.

So, before you choose a route, you need to consider what is best for you: keeping your old car or trading it in. This way you can also get a fair compensation & get a free car valuation online for your old vehicle.

Here is an easy-to-understand guide to car valuation:

Keep it versus Trading it in

  • Keeping your car

Of course, there is nothing wrong in keeping and using your current vehicle until its wheels gets worn-out. In fact, it has its own benefits. You can pay off the finance you owe on the vehicle. Eventually you will have to worry only about paying for its future repair and service costs.

If you think your car is no more in a condition to drive on the road, you can upgrade it with a newer vehicle. Usually, trading in an older car at a dealership is a simple option to make some additional money. It is because trading it in save you money that you would otherwise spend on its repairs.

For instance, if your old running automobile has minor problem like broken mudguard you might ignore to fix it. However, you cannot ignore the repairs and maintenance costs even when you buy a newer automobile. This can be troublesome if you are still paying for its finance.

  • Trade-it-in

If your vehicle often shows problems that are difficult to fix because of huge costs, then it is best to upgrade it. It is a simple way to make extra money out of it. You can use it as a down payment for buying a newer automobile. By buying a new automobile you can save money on fuel-consumption, get better technology and safety features.

Another benefit of trading in with an auto dealer is you can easily dispose of your vehicle. You don’t need to face the hassles of prepping your wheels and creating advertisements. Let’s not forget about dedicating your time to meet your prospective customers.

Most reputable auto dealerships give a smooth and safe payment process. So, you don’t need to worry about sharing your bank details with buyers and getting full payment at one time. Once you have negotiated a fair deal, you only need to sign some necessary paperwork. The representative at the dealership will also take care of arranging the required certificates and important documents.

What if you are ready to upgrade

If you are convinced to replace your older car with a shiny and newers one, make sure to consider some important factors.

  • Knowing your budget

This includes setting your price range to buy a new or second hand car. It is very important to know how much you are willing to pay for a used or new vehicle. You should always look for a vehicle that lies within your price range. You must also factor the cost of maintenance, yearly registration, insurance fees, and maintenance.

  • Should I purchase or lease a car?

In order to put the best use of your money it is better to purchase a vehicle. Although leasing can be a suitable option for some people, but it involves making ever-ending payments. This can give you trouble to determine the total money (other than fees and interest) you are spending on automobiles.

When you buy a car you have full estimation of overprice you are going to pay. All in all, you should consider leasing a car only when you cannot afford to purchase it.

  • What type of vehicle is suitable for you?

Before you decide to buy a car it is important to find out what make and model is suitable for you. You must choose a small size family car if you often drive in the city. A smaller vehicle with 1-1.6 litre capacity can help you save your money on petrol. If you prefer to buy a large-size vehicle, it will cost you more money. As you will have to spend fro its registration, tyres, fuel and regular upkeep.

  • Determining the resale value

In order get the best deal for your car it is important to determine the fair resale value. Never walk into a dealership without doing your homework. Do your research online to check the current value of similar models. If you trade it in a dealer will more likely offer you 20 to 30% less than the asking price. As they always make sure to keep their profits. If you are selling a popular model, you can anticipate to get a higher price. Since most popular brands hold the best resale value.

  • Do your homework

According to experts, every car seller and buyer must do their research before selling or buying a vehicle at a dealership. Because they always make sure to keep their profits from the final price. You can depend on the reliable online source, when it comes to obtaining car valuation.

It is an online free assessment tool which provides fair estimates depending on your auto’s make, model and year. You can also compare the rates by checking various automobiles classified websites.

Remember the age, make and model of your automobile is a very important factor in determining the value of your vehicle. For example, if you have got a vintage vehicle you can expect to get a lower price for it. However, if your car has some advance features like automatic transmission it will definitely increase it’s worth.

  • What’s the current condition of your car?

It is obvious that you will get a less value for your vehicle if it is in a poor condition. On the other hand, a well-kept vehicle will have a higher value in the market. This is possible when you service and maintain the car on a regular basis. So, make sure to take care of the dents, scratches and stains (if any) in your car. Don’t leave the job of repairing them on a future date. Remember, even a minor damage to your vehicle can diminish its value.

| August 10, 2018 | John Smith