In the used car market of the UAE, getting a car valuation has become a crucial part before any car related transaction. The value of a car depends on its popularity among users in the car market as well as the amount of units available. Nevertheless, even if there is plenty of supply, it can get a good price as long as there is a prevalent high demand.
Judging by this, every car has its own value and no automobile category can be valued in a lump sum. This can be achieved through a proper valuation technique that will scrutinize every component of the car to get to know how much the vehicle has depreciated overtime.
And that’s exactly what car valuation is! It is a technique that assesses major features of an automobile in terms of its usage overtime and puts an estimated value or price on it. There are different methods available to get a car valuation; it can be done through online services, car dealerships or service centers of specialist car buying companies.
Different methods allow car to be priced at a different level every time. If you are buying a car from a dealer then it will be valued at a higher price. If you are looking to sell any car privately then its value will be lower but better compared to a trade-in deal. If you auction your car, you will get the lowest price as it comes with a bargained value along with a lot of risks.
In order to avoid any confusion of different price levels in varying methods, here are some reasons as to why car owners need to value their vehicle in the first place.
Get a Car Valuation When You Buy a Car
When you go to buy a new car or even a used one, no buyer wants to pay more than the car’s worth or more than their own budget. Buyers sometimes fail to understand that comparing different cars in terms of their price doesn’t always work. This is because each vehicle has its own engine, trim level, transmission, mileage etc. that determines its value and resultantly its demand.
In order to make sure that you are actually paying the right price for the car that you want to buy, and not over the odds, get its valuation. This will let you know the demand and supply situation as well. You would actually know what price is prevalent in the market and if the car you desire is within your budget. It will also help you identify the right place from where you can buy the car at the right price.
Car Valuation is Important when you Sell a Car
The main intention of selling a car is to get the maximum value against your used car. If you are selling it privately, you can’t just put a random price on it and sell it. There are different factors of the car that contributes to its value especially after its usage over an extended period of time. Each vehicle depreciates differently over time. That is where car valuation comes in to help figure out the value of any used car.
Getting your used car evaluated before putting it up for sale helps you to know how much you might get in return. It also helps to put a realistic price on it as well as negotiate with buyers who are asking to lower the price at the time of resale.
Value a Damaged Car
If your car has met with an accident, resulting in a significant damage. In the case when the repair cost exceeds the worth of the car, then it’s important to get an insurance claim.
Most of the time when car owners give their damaged car to be claimed by the insurance, the insurers present them with an offer to settle on and majority of the time the car owners take their word for it.
If you arm yourself with the real value of your used car, you could get more money out of your insurer. You can also ask them to repair the car because its worth is more than the claim.
Furthermore, there are certain places who says that we buy any car Abu Dhabi, including damaged cars. You can also take your vehicle to such places and get a good price against its sale.
Reclaiming Amount in case of Car Theft
In the event of car theft, you may be in a total loss situation and will need to claim from your insurance. You also need to make sure that you are given enough money to get a vehicle immediately. In order to get the claim, you will need to establish what it’s worth so you can budget what cash you’ll have to spend once your insurer has paid out. If they come to you with an offer that’s significantly lower compared to the value you got from the car valuation, you’ll need to negotiate with them for a more generous settlement.
Get the Right Value in a Trade-In Deal
If you want to get rid of your old used car and get a new one immediately, trade-in option is for you. In order to consider this option, you need to know how much equity is in your car to work out whether or not you can afford this deal. After car valuation, if your used car value is far less as compared to the price of the new car that you want to trade it in with, then it’s going to be very costly for you and you might need to reconsider the offer.
These are some of the reasons as to why every car owner should get a car valuation.
If you want to sell your used car then remember that we buy any car in just 30 minutes. Try our free online valuation to sell your used car.