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01st October 2020

Superadmin

Second-Hand Luxury Car Valuation: Tips and Tricks!

Buying a first hand luxury car is a commodity that not all of us can afford but a dream we all wish to achieve some day. This is where the second-hand car industry comes in to rescue you from your financial crunch crisis! In India, the recent statistics have shown that the second hand car sales are growing everyday with huge numbers and great success rates. Indians are ambitious but cautious at the same time. They usually tend to make a decision thinking two steps ahead of the present situation, this very decision making ideology bounds them from making a heavy investment into a premium brand car. Ever since the used cars industry has been introduced to the country, this alternative to spending crores on a first hand luxury car has been accepted by the whole nation with open arms.

If you are someone buying your first car or switching from a two wheeler to a four wheeler, then buying a pre-owned luxury car or a second hand premium car is a wise decision that many would recommend. With the falling economy and rising car prices, there’s very little window for one to buy a luxury car at a reasonable and affordable price, and it is very important to think about the future servicing and maintenance charges that the car would demand as well, but you can always invest in a used luxury car and save yourself the trouble of going through a huge damage to your pocket. Autobest brings to you the best used luxury cars collection ranging from all models and brands to different price ranges so that you can choose the car of your choice.

Now, once you set your mind on buying a used premium car, along with questions like: Is this car going to fulfill my needs?, Is the car fit enough for me to buy it?, Can I see myself driving this car comfortably?, another very obvious question that might strike your mind is “What is the value of the car?”.

There are a number of tools available in India, in the used car industry, that will guarantee you the accurate second-hand car valuation, but these tools are not reliable for the purpose of calculation of your second-hand car’s value, its history data and service data are required, which is not available with all these tools making empty promises to fool you. It is highly advisable to not  trust these tools while making an important decision like buying a car.

To help you get the answers to the last question, here are some tips and tricks that can help you with the valuation of your second hand luxury car or, to put into better words, the calculation of your used luxury car’s value, on your own.

To find the valuation of your used premium car or used luxury car, you first need to get familiar with a few vital factors that contribute into the valuation of your second hand car. They are:

  1. Model of the car

  2. Version of the car

  3. City of registration of the car

  4. The year in which the car was purchased

  5. Number of owners of the car

  6. Number Kms the car has travelled

  7. Accident history of the car

  8. Service data of the car

  9. Condition of the car

While calculating the valuation of a second-hand luxury car, there’s honestly no straight jacket formula that can help you find the exact numbers that you are looking to assign to the car, but it requires data analysis techniques that have been applied over hundreds, and sometimes thousands, of actual car price data sold in the a specific location. This data analysis does not result in a particular number but gives a range and it is generally found in the form of a price chart.

To understand this analysis better, you can take the example of, say you are looking to buy a used luxury car in Delhi. Now according to the data collected on the cars sold of the same model and version in particular areas like Delhi and other cities,  detailed analysis will be found after some time and through that you can find the approximate valuation of your used luxury car.

This process is quite frankly very time consuming and tedious. It requires genuine hardwork and patience, and is quite possibly very confusing for most of us who are not well educated in this field. Even after all the work and headache, a precise number cannot be achieved at but a rough range is given. The important thing to keep in mind while analysing these analyses and this range is that it helps you make an educated guess and prevents you from falling into a trap. It is advised, always do your homework before purchasing a second hand car. Do not risk your life and hard earned money due to laziness.

HAPPY DRIVING!

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