Is there any Accurate tool to estimate the price of Second Hand Cars. I have identified 2 cars. Used Wagon R from Maruti True Value 2010 Model and Used Swift Lx Petrol from a Local Dealer 2009 Make. They are asking Rs. 3 Lakh for both cars. Is the price correct. How to get True Value
You can get an estimated amount basis Vehicle Make- Model, Year of Registration, Kms Run . However - this can only be an estimate
A Fair value of a second hand car is dependent on multiple factors :-
- Exterior Body Condition - Is the car free from dents or scratches. Is the body paint uniform acrosss the car
- Repairs & Servicing done - Is the owner providing service history, bills. Are servicing done on time
- Interior Condition - Are Interior Clean. Is Seat upholstery intact and free from any kind of bad odour
- Tyre Condition - Are tyres are out of life or have they recently been changed. Whats the present condition
- Driving Factor, Smoothness - Is the pick up and drivining still smooth and constant on both low to high speed
- Any Noise from Brakes, Doors - Is the car free from noise from both brakes and door. Are the door been able to close aptly
- Any Claims Taken - What is the NCB on Insurance. How recent were the claims and for which part were the claims taken
- Owner Serial Number - Is the Owner Single or Multiple. A Second Owner in RC can straight away depreciate actual value by 20%
- Vehicle Registration City. Is car been sold in same city or different one. Why is the Customer selling the car. Does car has any kind of issue.
Plus Underbody Inspection - Get a help from a Mechanic of a local garage to access the condition of the car for you.
Plus - Also - who is the seller. Is he a dealer, broker or a direct customer. As dealer and broker will try to keep there margins
All - these points can well impact the valuation of the car.
In terms of an estimated value - you can get a price using our:- Resale Value Calculator.
However, it's based on presumption that car condition is good with no such problem
Value can depreciate much, if condition is poor or even increase by 10-12% too, if the vehicle is well maintained.
So - our advice is to first get an estimate using the calculator and then check on the condition of the car for deriving the price. The value is much judgemental basis condition.