Selling a used car: How to calculate its exact price

When it comes to selling a car, it is not easy to appraise it, as multiple factors affect its price

Any scratches or dings decrease a car’s value.

Alfredo Rueda

Jan 13, 2024 - 16:38CET

It’s time to say goodbye to the car. Of course, before you sell, it you need to know how much you can ask for it. Knowing how much a used car is worth requires gathering as much information as possible.

To begin with, the car’s condition, mileage and age are the main factors that will determine its selling price.

What information should you collect about the car?

To start, it is necessary to know the car’s make, model, version, first registration year and level of equipment. On this last point, it is also important to factor in all of the car’s optional features, in terms of safety, comfort and infotainment.

You should also indicate if the car has a maintenance book stamped with all of its repairs, because that increases the car’s value. Of course, the car’s technical vehicle inspection should be up to date. In addition, highlight if the car still retains any purchase or repair warranty.

If the car has a current, stamped maintenance book, that will increase its value.

The vehicle’s condition

Logically, the more scratches, dents or damage a car has, the lower its value will be. That’s why it’s worth considering doing some small repairs before selling it. While that may not increase the car’s value, it can make a better impression and get it sold sooner.

The condition of the tires is also important; if they are very worn, the buyer will ask for a reduction in the final price.

If the track mark is 2 millimeters or less in depth, the tire must be replaced.

The final price

With all this data in hand, the quickest way to determine the price is to enter the vehicle’s most important information in a classified ads search engine on a website for buying and selling cars.

Here, you can compare it with similar cars, particularly those of the same year and those with similar mileage.

Comparing the car’s data on a car buying and selling website can give an idea of the approximate price.

There are also websites that offer free valuation tools, especially on the pages of companies interested in buying used cars. As a general rule, the price they offer will be below the market price, after deducting their profit. However, if you urgently need to sell your car, such websites can be a good solution.

In any case, it is necessary to remember that the price will be subject to negotiation, so it is important to leave a margin in anticipation of this possible reduction.

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