Buying or Selling a Used Car. Know how to Self Evaluate the Valuation Price of Used Car Online in India without any Dealer or Broker Assistance
Used Car Valuation
The first step in making a self Evaluation of your used car is
Condition of Car - No Individual would be much inclined to give you the fair price of the car, what so ever - less driven or highly fuel efficient if the body condition, interiors and exteriors are not good.
Its said 'First Impression is the last impression'. Holds well true in case of Second Hand Car atleast. Any prospective buyer will see whether the car is free from Rust, Dents, Minimal Scratches and is the paint uniform all across the body. Next comes the Interiors - the Fabric should not be torn, and car should not smell bad when one sis inside.
Car Valuation basis Condition of Car :- If the body condition is not good, you can expect a value cut to tune of 10% to even 20% of fair value. Say a Swift 2007 Model Petrol been selling for 2 Lacs, with a bad condition the buyer may reduce the price to tune of 1.6 Lacs or even worse 1.5 Lacs
Drive Factor - If there are glitches while making drive or shocker problem - the value can also come down drastically. So - if its not a major work - get it worked up so that atleast the car should not give troublesome to prospective buyer while driving.
Workshop and Service Records - By Keeping a record of Service and if very few claims been taken - Have the record ready with you as will help in jacking
up the price of your car.
Self Valuation of your Old Car
Never estimate the price basis at what you have bought, but at the prevailing On road price of its or similar model price of the company,
a) RC Owner Below Valuation Grid Indicates First Owner Sale. If RC Serial Number is 2 i.e Sale to happen from Second Owner then there is upto 20% Straight away further cut on the Valuation Price. If sale to happen from Third Owner then mark it upto 35% cut on the fair Value
b) Model Facelift : If there's a major Facelift which has come in wherein Body Design, Engine and Looks have changed, then you can expect 10% price cut to the fair value of Used Car. For example - Fluidic Verna has revamped completely as against Old Verna. There could be some Exceptions like Swift Dzire - whose previous model and latest model - both are in hot demand
c) Model Discontinued. If the Model is altogether discontinued, but car less than 5 yrs Old - expect a further depreciation of 15% on fair value of similar model. If model been discontinued more than 5 yrs ago, expect depreciation cut of 20% on its fair value
Valuation Grid is dependent on Net On road Price, after Discounts of New Car Model (or existing comparable similar Model)
Below Valuation Grid is Updated in July 2015 - after NGT Recommendation of Ban on Plying of 10yr Old Diesel & 15 yr Old Petrol Cars
RTO Offices in Most of Cities are now denying Re-registration of 15 yr Old Cars. Also 10yr Old Diesel Cars are been imposed a ban
Petrol Car Valuation Grid