In recent times, the market is witnessing a substantial rush in demand for used cars. In 2019-20, the used car market valuation was $24.24 million. The organized used car market is expected to witness a CAGR of over 22% during 2021-2026. Why do the buyers leaning towards the used car market? Of course, the price factor has been working here.
A major portion of the car-buying population has been shifting to the used car market, going for the used car valuation, and buying used cars ultimately saving some hard-earned money. Today, used cars are sold in more numbers than new cars – thanks to the organized and semi-organized sectors that have given the buyers much confidence in used cars. In 2018-19, 4 million used cars were sold which was 1.3 times the sales of new cars.
Why is car valuation important?
Car valuation is the most important part of the used car buying process as it reveals how much the car actually worth so that you don’t end up paying more than the car deserves. Previously, sellers and buyers had to negotiate a lot to come to a valid price. Thanks to the online platforms dealing with used cars where the used car market is much more organized with systematic transactions and very useful car valuation tools.
Importance of car valuation
You cannot seal a deal with an old car seller without knowing the car thoroughly. It’s all about your hard-earned money and meeting your purposes. Cal valuation does that job for you:
- Spot the best deal – When you know what could be the used car price, you can negotiate with confidence. Everyone wants to lock the affair deal. And by doing car valuation with orange book value help buyers to make a smarter decision. And with Orange Book Value car valuation tool, you can spot the best deal
- Get complete information about the car – You can say, it’s the by-product of checking used car price. You will get some important information regarding the car like how much it has move so far, whether it has met any accident, depreciation, year of purchase, etc.
- Car valuation for insurance – After buying a used car, you have to look for insurance. The present value of the car will determine the insurance premium.
- Take decision confidently – Gathering information on the car while inspecting it, you will understand whether it proceeded further or reject it right away.
The used car valuation – All you need is some basic info:
Second hand car valuation is not a complicated task if you know how to perform it. You need to know that the model and brand of the cars may differ but the process remains almost the same. So, whenever you are planning to buy a used car first thing you need to do is understand the current market price of the car.
Some basic information like how many distances it has run, the physical condition of the car, the year of purchase of the car, depreciation, accident history, and service history will help you assess the present market value; otherwise, use any updated car valuation tool to assess the probable price immediately.
Go for the best deal – explore all options in the organized market
As people’s zeal for having a personal car has been increasing day by day, the automobile market is experiencing increasing footfall. However, the price of the coveted car keeps the dream of having the car pending for months and years.
With the more expansion and increasing trustworthiness of the organized sector of used cars, buyers are testing the used models, applying used car valuation tool, and buying certified used cars. Ultimately performance matters, then why can’t we drive a second-hand car when it can save our money and provide the same experience as that of a new model!