The government has been actively promoting vehicles with low CO2 emissions. A table on the official government website illustrates the various tax categories.
When browsing through online classifieds, it becomes evident that numerous older Jaguars and BMWs are being sold at remarkably low prices. This can be attributed to their high emissions, resulting in exorbitant annual car taxes. This is unfavorable news.
Conversely, there is a positive aspect to consider – a CO2-related incentive for commuters within the London Congestion Zone.
Vehicles emitting less than 75g/km of CO2 and capable of traveling 20 miles on electric power alone are eligible for a 100% discount. Given the daily fee exceeds £10, this presents a significant selling point.
Therefore, the lower the CO2 emissions of your vehicle, the more advantageous it is.
The Initial Price Of The Car
Two cars from 2020, one being priced originally at £20,000 and the other being prices originally at £10,000, will perform differently. The £20,000 one will outperform the £10,000 car
Typically, the value of a car is directly correlated to the initial price of the car when it was brand-spankers.
Mileage
The distance traveled by a vehicle is a crucial indicator of its value, as it provides a direct measure of the remaining lifespan of the car, not solely focused on the engine.
In general, vehicles with low mileage tend to commend prices that are 20%-30% higher than identical models with a high mileage
Engine Type
The introduction of ‘toxin tax’ targeting diesel engines in 2017 initially resulted in a depreciation of diesel car values. However, there has been some recovery in recent years, particularly for Euro 6 diesel models, which remain popular for larger vehicles such as older-style SUVs and vans.
Nevertheless, if you currently own a diesel-powered vehicle, it may be advantageous to consider selling it soon. The automotive landscape is shifting towards electric vehicles (EVs), and as we move closer to the UK’s ban of petrol and diesel vehicle sales by 2035, the price of diesel cars are likely to decrease annually.
Condition
The value of a car you’re selling becomes increasingly important as its price increases.
While buyer of £1000 used cars have modest expectations, those considering cars in the £3000-£5000 range anticipate better quality.
Despite this, buyers spending over £5000 often desire a near-perfect vehicle, though this expectation may not align with reality.
Unfortunately, most cars aged 1-2 years are likely to exhibit some form of damage, affecting their overall worth, including factors such as paintwork, interior condition, and tyre quality.
Popularity
Selling estate cars, those with unusual colours, or unpopular brands can pose challenges, typically resulting in lower achievable prices.
Conversely, sought-after vehicles like the Ford Focus, equipped with standard engines like a 1.8 turbo diesel, and sporting neutral colours like black, command premium prices in the used car market.
On the other hand, a Ford Focus Estate featuring a 1.4 petrol engine, high mileage, and an unconventional colour like burgundy, is likely to be valued 15-20% less than its more popular counterpart.
Methods For Valuing Your Car
1. With HeresACar
Step One – Create a profile for your car
Share some details with us and create a profile for your car. According to these details, we will formulate an accurate price based off market research conducted by our experts.
Step Two – Getting your car out there
We will get our certified dealers in on the action so you can start receiving offers for your vehicle through our online auction
Step Three – Receiving the best offer
Get connected to the highest bidder and arrange a date for collection – if you accept, that is.
Step Four – Sold
How easy was that? That’s all, you’re done!
2. Ads Research
Selling a car isn’t a straightforward task. It involved creating a compelling advertisement, incurring expenses for its promotion, including negotiators.
Despite these challenges, selling privately usually yields the highest return for your used car. If you opt for this route. you can research your car’s value by exploring various ads websites : eBay, Auto Trader, Gumtree.
These websites boast a wide array of vehicles nationwide, offering a valuable reference point for estimating your car’s worth.
Step One – Filter the search
This will help you get as close of a match to your vehicle as possible
Step Two – Filter more specifically
Include more precise details :
- Make
- Model
- Colour
- Mileage
- Fuel Type
- Location
Step Three – Compare
Look for faults and conditions
3. Dealer Valuation
Step One – Find a specialist
Ideally, find a dealer that would specialise in your car
Step Two – Get a valuation
Before you ask for the valuation, make sure to leave a continuum – “I’ve picked your dealership as I expect a higher valuation, or I will sell privately.”
