Whether you are a car owner looking to sell your car, an aspiring car owner who wants to buy his dream car, or a car appraiser, there are few things you definitely need to know before appraising a car. When conducting a car appraisal Waterboro ME, it is easy to forget certain things, but with the following tips, you’d carry out a better job.
5 Important Steps In Carrying Out A Car Appraisal
Step 1: Determine Its Average Market Price
What better place is there to start since the primary reason for carrying out a car appraisal Waterboro ME is to know how much your car can really sell for given the current market conditions. Thus, knowing how much your car is valued at on the market based on its make, model, trim and year give you a good starting point for your appraisal.
Hint: you can do this by checking the vehicle directory or looking up the VIN.
Step 2: Consider The Wear And Tear
Depending on how long the car’s been used, it is bound to have experienced a certain measure of wear and tear. Your job is to determine how much. At this point, you must consider the mileage on the car, the scratches and dents, and the overall health of the engine amidst other things.
Step 3: Consider The Upgrades
If there were any valuable additions made to the car, then it must also be accounted for. Upgrades such as a navigation system, remote start, or 4WD, but to mention a few are things that can favorably affect the worth of a car. Some more than others though.
Hint: the upgrades are easily noticeable if you can determine the trim level of the car when it was rolled off the manufacturer’s line. The VIN can provide you with that.
Step 4: Determine Its Real Market Price
After determining the wear and tear and contrasted it with the upgrades of the car you are appraising, the next step is to find out what a person would be willing to pay for it given its ups and downs. A little research on the present market and one or more trips down to a mechanic shop or a car dealership can provide you with a good range of the real market price of the car.
Step 5: Compare Similar Vehicles
Comparing your vehicle to similar vehicles and drawing a line of parallel in terms of price can also help you get a good bid on what your car’s valued at.
What Else Should You Know?
In the business of car appraisal Waterboro ME, location matters a lot. A car can be valued at different prices just based on location. You would thus do well to put this into consideration when checking out the prices of similar cars in different locations. It is best to carry out your research in your own city and local market.