One of the key elements in determining “How much is my car worth?” would obviously have to be valuation. Essentially, valuation refers to the estimate that is provided by the car buyer for purely information purposes to give the car owner an accurate idea on the worth of the vehicle including all of its customization. This means that the valuation does not necessarily constitute an offer or intention to buy the vehicle in question.
It is therefore extremely important to be aware of some of the questions that need to be asked when it comes to vehicle valuation. Knowing the appropriate questions to ask will help car owners to make an educated decision on whether or not it would be to their advantage to sell their vehicle online. In the same manner that it is necessary to emphasize of looking for the right type of online company to deal with in order to have an accurate answer to “How much is my car worth?”
- What happens if the car is not on the website of the buyer?
Normally, the website of car buyers would feature every vehicle is manufactured in the country from a particular period. Therefore, if the vehicle that is being sold is not in the list, it can only mean any of the following:
- The vehicle is an import and has no corresponding model in the local market
- It is either a van or commercial vehicle
- The vehicle is older than what the car buyer covers, which is normally a maximum of 25 years
This however does not mean that it is impossible for car owners to establish How much is my car worth? The option is for car owners to head to the nearest local branch of the car buyer in order to have an automotive expert conduct an on-site inspection. It is important for car owners never to choose the nearest model to their vehicle because this will affect the accuracy of the valuation as well as the worth of the vehicle.
- Is it possible to sell non-runners?
There is no question that there are still a number of car buyers who are willing to purchase non-runners. However, car owners should establish whether there is a collection service that is being offered. This is important because in the absence of a collection service, it will be the responsibility of the car owner to arrange for the vehicle to be dropped off to the nearest local branch to have an accurate valuation of its worth.
- Can imports still be sold?
The primary consideration for owners of imported vehicles is whether or not they can be sold, but rather if they are registered. This is important because the registration assures any potential buyers that the vehicle can be legally used in the country. It is important to consider when evaluating the question “How much is my car worth?” that models and specifications of imported vehicles can vary depending on the country of source. This means that the pricing and valuation may also differ substantially.
- Is it possible to sell a vehicle on behalf of a friend or family member?
This is entirely possible, but the seller should have a letter of authorization from the registered owner of the vehicle. It is extremely necessary to ensure that the bank details should match those of the registered owner. Identification cards of the owner should also be presented to the seller along with proof of address and at least three identification cards of the authorized seller. The proof of address should be no older than three months.
- How can the vehicle of a deceased relative be sold?
It is understandable that these types of possessions have huge sentimental value and can be associated with stressful and emotional times. The reasons for wanting to sell such possessions though can be varied depending on individual preferences. This is why it is important to ensure that the entire process can go as fast and hassle-free as it possibly can.
Car buyers normally have automotive experts ready to handle this situation. On the part of the seller, they need to have a power of attorney or a probate. It is also important to have the death certificate ready.
- Can vehicles with outstanding finance be sold?
There are some car owners who have outstanding balances on the financing of their vehicles either because they were bought from a bank loan or a loan has been taken out using them as collateral. There are a number of car buyers who can actually handle the settlement agreement from any outstanding finance covering the vehicle.
The car owners however must submit a dated letter with the details about the settlement figure based on what the finance company expects. It is reasonable to expect that the amount of the settlement will be taken out from the payment that the car owner will receive. Normally, car buyers will be able to successfully settle the amount in about four working days once the sale has been finalized. Crediting the funds however may take as long as ten working days until final clearance.
- Can private persons sell vehicles for companies?
Even companies wonder, “How much is my car worth?” and sometimes private persons are tasked to handle the selling of these possessions. Normally car buyers will not distinguish who the seller is, but, if private persons are doing it in behalf of companies, they would need to present the following:
- Form of photo identification of the person authorized to sell the vehicle
- A letter signed by the company director authorizing the selling of the vehicle
- Details of the company account to facilitate payment to the bank or the bank statement of the company
- Two identification forms with business address
- Two sets of keys for the vehicle
- Service history including MOT certificates available
- Certificate of registration
- Can vehicles with private registration be sold?
Many car buyers are willing to provide valuation and buy vehicles with personalized registration. The car owner actually has the option to keep the private plate, in which case, another plate will be assigned to the vehicle. The car owner will be required to coordinate the sale with the DMV if the private registration will be kept.
All of these questions are important not only from the point of view of determining valuation, but also in seriously considering the sale of the vehicle. These questions will also go a long way in establishing exactly “How much is my car worth?”