Our experts guide you on how to value a car in the UAE.
Whether you are planning to sell your car in Dubai or buy a used one, you will need to know how to estimate a car’s value in order for you to get a fair, if not a great deal.
Many factors come into play when determining your vehicle’s worth and assigning a sum of money to it in Dubai.
Some of these elements like make, model, and year help you set a broad range for the vehicle’s price while other elements contribute to setting the final price that both, seller and buyer, parties agree on.
Here, we have listed for you a bunch of factors that are taken into consideration when determining any used car’s value:
Mileage
There is definitely a trend between mileage and wear and tear of the vehicle, and let’s be honest, a 300,000-mile car wouldn’t even stand a chance in front of a 30,000-mile one.
Additionally, mileage usually corresponds with age, and value depreciates with age. Therefore, high mileage means old vehicle age and that just hurts the value of the used car.
Although older cars still can last if taken care of, their modern equivalents have a longer remaining working life and are worth more for that.
Unless we’re talking about a classic here, sorry to inform you that there is nothing you can do about the age factor.
Condition
Unlike Mileage, the condition of the car subjectively impacts the value of the vehicle as buyers have different preferences.
Some might prioritize having an accident-free car over torn leather seats, while others care about having a fresh-looking vehicle with no paint scratches and not be bothered by dysfunctional electronic equipment.
However, the more dents the car has and the more critical its problems are, the less value it will reap.
If you can make quick and easy fixes to your vehicle then good for you, you can earn more bucks but if the fixes will cost you a hefty sum of money, you’re to judge whether it is worth the investment or not.
Anyway, it does not hurt to get your car all nice and clean, inside and out before showing it to potential buyers. A shiny car might win them over for you.
Service History
Having a full and, to some extent, clean service history is proof to the buyer that the owner really cared for his baby and that it was very well taken.
Seeing that the potential car is in good condition is great reassurance but taking a look into all the hidden repairs that have been done and checking whether parts were replaced according to schedule is key to winning the buyer’s heart.
Keep track of your receipts for the record and ask for them if you are the buyer.
Location
Where this used car is located can be very significant in the car valuation process. If no one in your area is interested in the car you want to sell, well that’s not great at all.
But if you know what car buyers in your area tend to be interested in, then you’re playing it right. For example, mid-priced family sedans have fans almost everywhere, whereas four-wheel-drive trucks and SUVs are most popular in places that get a lot of snow.
So, if you’ve been trying to sell your car for a while and it’s just not working out for some very weird reason, think again about how your car fits into the geography of this location and whether you are promoting it to the right audience or not.
Personalization and Add-ons
It is definitely a hit or miss type of scenario when you make modifications to your vehicle because deep down, we know you have the best expectations set for how it’s going to look and how everyone you take for a ride in your car will complement your personal touch.
However, it doesn’t always turn out as good as you initially wanted it to look.
That’s alright because we all make mistakes, but some mistakes cost you money.
In the case that your add-on turns out hideous, your clients will be hesitant to make their purchase so you will have to tempt them with a lower price than what your car actually deserves.
But if you’ve invested well in your car, like installing a dash camera or updating your entertainment and navigation system, then you’ve done a good job because that my friend will earn you some extra thousands of dollars.
It is very important to get a valuation from a trusted company in Dubai to determine the value of a used car before settling on a price that you think is fair. This is mainly because there are plenty of other factors that, in addition to the ones already mentioned above, influence the value of a used car, such as the number of owners, brand, rarity, color, time of the year, and sales venue it’s being sold at.
