Johannesburg, 13 December 2022: Buying or selling a car can be like doing the tango. When you find the right partner, both parties can quickly become intertwined in an intense back-and-forth that can, at its best, leave everyone immensely satisfied. The hinge point of this interaction is the valuation. Each party will have their idea of what they believe is fair and getting as close as possible to that number is entirely dependent on one’s powers of vehicular seduction.
With more than 464 000 new vehicles sold and 1.5 million used vehicles registered in South Africa last year, maximising your chances of getting what you are looking for means understanding the ins and outs of car valuations. With the help of TransUnion and First Check, we have developed a powerful new feature to make sure you are always up to date on the value of your vehicle.
The Basics:
Knowing how much your car is worth and what you can sell it for can often feel like being stuck in matric calculus class but there are two main factors you need to keep in mind: Retail Price and your Trade-In Value.
The retail price is the closest value to the replacement cost of the car while the trade-in value is the average price that a dealership would pay for your car. Every car on the South African market has a trade-in value which is determined by using past sales data. This data is then published by TransUnion in its Auto Dealers’ Guide.
As a rule of thumb, dealers will calculate the car value through a detailed inspection while considering all the factors that affect the price.
These include:
• Make
• Model
• Age
• Special equipment/extras added to the car
• Mileage
• Current demand for that type of vehicle
The Secret Weapon We Never Knew We Needed
For years this set of criteria was a branch of knowledge known to few outside the car valuation world. It allowed experts to get the upper hand on the average person who was just trying to get a good deal. All of that has changed now. Powered by ourselves, TransUnion and First Check, Car Price Insights gives you instant access to any vehicle price information, real-time data, and overall market value at no additional cost. All you have to do is go to gumtree.co.za.
Car Price Insights also gives you the power to check the data of 56 different car brands across the country, find out your car’s current market value, get the full history and even the legal status of your vehicle, and find out what similar cars are selling for on Gumtree.
This feature will give ordinary consumers the power to easily access the market-related values of vehicles thus putting you on an equal footing with the experts when it comes to buying and selling a car. In this current market, which is an advantage that could put thousands of rands back in your pocket.
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