Use a Car Valuation Report To Get The Best Price When Selling Your Car

Jan 4, 2023 | Car, Valuations & Reports

If you’re hoping to sell your car, you need to get a car valuation to make sure you know what your car is worth today. The prices of used vehicles has continued to rise, that is, according to TransUnion’s latest quarterly vehicle pricing index (VPI). Just in case you were wondering, the VPI index uses sales data from across the industry to measure the relationship between the increase in vehicle pricing for both new and used vehicles, based on a selection of 15 of the most popular passenger car manufacturers.

This increase is hardly surprising, given that their 2021 report already indicated an increase from 1.6% to 4.9%.

And yet, you might still struggle to sell your car for the price that you want. There are a number of reasons why this could be the case, but let’s look at the most common one.

Why You’re Not Selling Your Car  

We won’t mince words. The main reason most people struggle to sell their cars is because they have overpriced their cars. Typically, this happens when a private seller puts their price in the same bracket as the retail value of their car.

Typically, this happens when people see the price of a similar if not the exact same car online and think that they can get the same price for their car. However, private sale prices for used cars are always lower than the retail prices that dealerships use.

The retail value of a car serves as a benchmark for car dealerships, who sell in a retail setting and include extra value in the form of guarantees or warranties, and post-sales support. There’s also the added benefit of the peace of mind you get from dealing with a reputable company, as opposed to a private person with whom there is very little to no recourse.

This is simply how the car industry operates and explains why the retail value is higher than what you’d get if you were to sell privately.

You could be setting yourself up for disappointment if you anticipate receiving the same as the retail value for your old car.

The Solution To Accurate Pricing Using a Car Valuation Report

The first step, even before you whip out your phone to take a few pictures for your advert is an online car valuation. This will give you a good idea of where you stand with the market value of your car.

What A Vehicle Valuation Report Gives You

In basic terms, a vehicle valuation report can tell you what the value of your car is. More importantly, this kind of report will provide you with the trade value and retail value of your car, as well as a detailed summary of the car. In addition to the make and model, this summary also includes the transmission type, engine size, and much more.

This type of information is important for several reasons, not least of which includes simply knowing how much your car is worth. After all, knowledge is power, and if you’re thinking about selling or buying a car, then having a vehicle valuation report can greatly benefit you.

How To Use The Report To Sell Your Car Faster

Congratulations on making the decision to sell your car! It’s a big step, whether you’re downsizing to overcome financial difficulties, looking to upgrade to accommodate a new lifestyle (more kids, fancy job, and the like), or merely looking for a different driving experience.

There’s little doubt that you want to get the best possible price and you want to sell your car as quickly as possible.

Using a vehicle valuation report can help you determine how much your car is worth so you can negotiate a better, fair price and avoid being cheated.

Cheated? Yes. You may start to lose hope or be too eager to sell, which is just the sort of private seller that scammers like. They swoop in and offer cash on the spot for a much lower price, telling you that it’s a buyer’s market and you can’t expect to do much better. In fact, their low price is the best you’ll do and if you don’t take their offer immediately, you’ll lose out.

It’s easy to be taken in by this kind of language. The kind that fills you with fear and motivates you to accept thousands upon thousands less than you should get.

But if you’re armed with an accurate estimate of a car’s worth, so that you can avoid getting scammed. 

Ultimately, it’s in your best interest to get a vehicle valuation report to see how much the car is worth and settle on a fair asking price.

Get A Free Vehicle Valuation Report

If you’ve ever asked yourself, ‘What is the value of my car?‘, all you need to do is click here to get a free vehicle valuation report. Simply enter your name, email address, phone number, and vehicle details and from there, a report will be generated for you and emailed straight to your inbox.

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