Putting a price tag on a vehicle takes a lot of work. Indeed, there is a lot you will need to consider as part of this decision, and getting the price wrong can hurt both buyers and sellers. Fortunately, online car valuation checks can help you ensure fair pricing, making the entire buying or selling process more accessible.
How Does a Car History Check Work?
A car check service is an easy-to-use tool designed to make it easier to decide whether a sale is priced relatively (or help you choose a price if you’re the one selling). These tools compare a wide range of data points to help determine a rough valuation estimate for the vehicle; when coupled with market research, this can help you choose the best price or budget.
Factors Considered by Car Valuation Checks
Car valuation checks consider a wide range of factors, which can help make them versatile solutions to streamline any budgeting or pricing process. As part of this, the value of your vehicle can be influenced by countless points, such as:
- The age of the car: No doubt, one of the biggest influences on the value of a vehicle is its age. In line with this thought, car valuation checks often account for the age of the vehicle, which helps inform the final price.
- CO2 emissions: More and more restrictions are being placed on cars that release a large amount of emissions. As such, low-emission vehicles are generally more desirable and feature the latest design trends – and thus, car valuation checks take CO2 emissions into account here.
- Initial model value: Invariably, the higher the starting price for your car, the higher the second-hand value will be too. Car valuation checks consider the initial value when estimating a rough price, which helps give greater clarity.
- Mileage: A car done 5,000 miles per year will depreciate much more slowly than one that does 10,000 or more annually. Fittingly, car valuation checks consider mileage while estimating the car’s worth; this can play a direct role in net worth.
- Condition: A dented or damaged car will inevitably be worth much less than one in almost pristine condition. As such, car valuation checks account for any damage to the vehicle when determining the rough value. As part of this, the service history and past MOT history are all valuable information that can be used to determine value.
Find Out More About Your Vehicle’s Value Today
If you have been looking for help with pricing your vehicle (or checking whether an offer is fair), or if you’re a buyer looking to place an offer on a car, running a car valuation check can help. So, don’t leave the process to chance; make sure you’ve checked this to help before you under or overvalue a car.