Frequently Asked Questions
1. How do I value my car?
Finding out the value of your car has never been easier – all you need to do is use our free online tool.
Simply enter your registration number then tell us the mileage and condition of your vehicle, followed by your details. Remember to double check your email address because this is where your car valuation will be sent.
2. How is car value determined?
Your car valuation is determined by a variety of factors such as mileage, technical and spec data. Our online tool generates your valuation from CAP HPI, the auto trade’s leading data specialists.
3. What is CAP car valuation?
Current Auction Prices (CAP) is the market leader in car valuations. CAP obtains valuation data from a variety of sources such as auction houses, finance companies, insurance companies and car manufacturers. This data is then analysed by its team of experts to establish the true value of your car.
4. Why does a car’s value depreciate?
Simply put, car depreciation is the difference between the value you buy a car for and the amount you either sell it or trade it for. Most cars take their largest hit in value during the first year they’re owned and after around three years, depreciation starts to slow.
Car depreciation is often neglected when consumers are choosing a new car, but it should be carefully considered. Deciding on a car that depreciates more slowly can save a lot of money in the long run.
5. Why do cars depreciate at different rates?
As a new car is driven away from the dealership its value usually begins to drop, but that rate of depreciation varies across different manufacturers and models.
Cars that are more fuel efficient tend to depreciate more slowly because of increased interest in cars that are cheaper to run. Similarly, model replacement cycles can affect depreciation with a new model possibly depreciating more slowly than one on the way out, shortly to be replaced by a newer version.
There are many factors contributing to a faster or slower rate of depreciation including a vehicle’s mileage, fuel economy, demand, warranty length, number of previous owners, service history and the general condition of the car – with industry sources suggesting this fall in value varies between makes and models but typically is between 15-35% in the first year and up to 50% or more over three years.
6. How do I maintain car value?
By simply taking care of your car you can ensure your car fetches as much money as possible when it’s time to sell. For instance, everyone knows that the mileage on your car has a major effect on its value so make sure you keep your mileage to a minimum. If practical, keep your car in a garage, get it serviced regularly, take care of any mechanical issues as they arise, avoid smoking or transporting a dog in the car – the smoke staining or wet dog smell can have an adverse effect on your cars value – and of course keep it clean inside and out. There’s lots of advice available online to help.
7. Why does mileage affect car value?
Mileage is an important factor that affects car value. If you have two identical cars but one has significantly more mileage than the other, the car with higher mileage will have a lower value.
Vehicles showing a lower mileage are generally less used and worn, which means a car’s major components such as brakes, suspension, chassis, transmission and engines (which are most costly to repair or replace) will last longer.
8. How many are too many miles on a car?
As a rule-of-thumb, the average mileage per year is around 12,000 miles. Anything more than that is generally considered to be ‘higher’ mileage.
9. What market conditions can affect my car’s value?
A car that is in high demand will ultimately fetch more when it comes to sell. Of course, a lot of this depends on the car market at the time you want to sell and just how desirable is your car at that time. The strength of the economy can have an effect – but that’s usually beyond an individual’s control – but such factors play a part in how much your car will fetch. Even your choice of car colour can have an impact.
Colours such as white and black are always popular and so you may find these easier to sell on at a higher price.
Choosing a car that is popular in the wider market will help retain its value as it’ll still be in greater demand (no matter how much you’ve always dreamt of that pastel pink Mini.)
10. Where am I best to go to get the best value for my car?
To realise the best value for your car, would be to contact JustSoldMyCar.Com (part of Central Car Auctions) on 0141 22 666 44.
Many car owners don’t like strangers coming to their home if selling their car privately, while car dealerships offering trade-ins and online car purchasing companies will both only buy your car for less than they think it is worth at auction. In short, they make a profit at your expense!