What is the Market Value of Your Car?

You may not be fortunate enough to own a Bugatti Veyron as pictured in the top left corner of this page, but you might be interested to know the true value of your car?

Many people favour selling their car privately as opposed to offering their vehicle as a trade-in on a vehicle of a garage forecourt. It does however take some effort to get the best price, and for many of us, negotiating on price is as stressful as it gets!

You can sell your vehicle privately relatively cheaply: less than £30 for an illustrated ad in Auto Trader (your ad will go online, too). However you may need to be patient, particularly at quieter times of the year or if you're selling an unpopular model.

With recent economic turmoil in the UK an important point to consider is that if you own a vehicle over 1 year old then the value of your vehicle could be (considerably) less than you think! Don't forget that car insurance companies deem that the market value of a vehicle is whatever a claims assessor thinks the vehicle is worth if it written off in an accident or stolen and never recovered. This potential shortfall has led to the rise in recent years of Gap insurance.

To accurately establish the market value of your vehicle a good place to start is the Glass’s Guide. Their well respected guide is used by the motor trade to buy and sell its cars, and so should you. There are also plenty of online web sites which also value your vehicle free of charge.

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