Are you planning on selling your old car to get a new one? Have you found a used car that looks just as good as new? In either case, it is important to get a Car Appraisal New York prior to selling, trading, or buying a car. This would give you a clear idea about the appropriate value of the car. So you’ll be in a better position to negotiate as a buyer or a seller. Read along to know more about appraisal options to decide which will fit your requirements.
A car is a necessity and almost everyone in New York has a car. A car owner pays a total of 7.915% as an average car sales tax in New York. 8.88% is the highest possible car sales tax in NY. Getting a car valued before selling it is the standard practice in New York. Car appraisal services are easily available and the average annual income of an auto appraiser is $79,578.
Meaning of Car Appraisal New York
In the automobile industry, car appraisals reveal the market value of old cars, not new ones. Another word for an appraisal is valuation and a car appraisal helps you find the value of that car. It is basically an official estimate of a vehicle’s fair market price.
Top reasons to get Car Appraisal New York
As a buyer, everyone wishes to make informed decisions and therefore, does the due diligence. But when it comes to selling old stuff, most people are happy with whatever price the customer/ dealer quotes. Once you have made up your mind to sell the old car, getting its valuation should top your list of priorities. It will not only let you know the perfect resale value but also help you while negotiating.
These are the reasons why people consider an auto appraisal:
While purchasing selling or trading, it makes sense to estimate the fair market value of the car. Dealerships are the major stakeholders in this process and via them, you can get a car sold quickly.
An appraisal is crucial to be able to put a dollar value on the car in situations where it can be a valuable asset: like in a divorce case or in the aftermath of bankruptcy.
When you want to sell or buy a collectible car, an appraisal is mandatory.
If you are thinking about exchanging the present car for another one with more features, you will require an evaluation report. This will ensure you get a good exchange deal.
Factors that affect car appraisal New York
There is a range of factors that affect the value of a car. These include location, model, age, body damage, wear and tear, and other optional features. Here are the factors that play a key role in determining what a vehicle is worth:
The buyer’s purpose and plans Why an individual wants to buy your car is one of the primary factors deciding the value of your car. Valuing levels vary based on what the buyer plans on doing with the vehicle. If a dealer intends to shine up your car and sells it for a high price is likely to pay you a good amount. On the other hand, if another dealer is going to put it up for auction right away, he wouldn’t be willing to pay more.
So, the best option is to sell it to a private party instead of a professional reseller. Find a private buyer who wants to get a car in good condition for personal use. This will fetch you the highest value as such a person has no immediate plans of selling the vehicle. This is where the valuation guide is of use as it offers different values for various kinds of sales.
Your location How is location linked to car appraisal? As in the real estate industry, location is a determining factor in car value as well. One type of car might be in high demand at a particular place while another might not be equally popular. The greater the demand and utility, the higher the value.
Car’s mileage A prospective buyer would like to learn how many miles your car has run. Likewise, if you are buying a used car, you must find out the total driving distance. The value is bound to take a hit if the odometer shows more than 15,000 miles traveled in a year.
Maintenance Servicing the car frequently is compulsory to extend its life. One thing that you must verify is the service records of the car. It is the only way of finding out that the maintenance of the car has been proper.
Whom to approach for Car Appraisal New York?
There are several places where you can get a car appraisal. If you are selling or buying a second-hand car, refer to at least two appraisal methods to be certain that the assessment is accurate.
Valuation Website There are several websites that offer car valuation for free. All you have to do is submit details about the car’s model, make, trim level, mileage, and age. Once you enter all details, you will instantly get an appraisal. The appraisal will state the car’s value in different situations like trading with dealers or selling to an individual for personal use.
Dealership Appraisal In this process, an individual from the dealership will have a look at your car and quote a price. Negotiate well as dealers will try their best to decrease its value. Also, if you choose this option, show the car to multiple dealers and sell it to the one that pays the most.
Independent Appraisal When you opt for an independent appraisal, a person examines the vehicle from bumper to bumper. People choose this option in special situations like divorce, bankruptcy, or while purchasing a collectible car.
Lender Appraisal When you are selling a car without involving any dealer, your lender will give you an estimate of its worth. Typically, banks include the value of a car in their loan calculations. So, while buying a car through a bank, you would like to find out if the value matches the price. If your lender says you are paying a higher price than you should, it is a red flag. Many lenders give this estimation free of cost as part of the loan process.
Step-by-step guide for car appraisal on a valuation website
Whether you are conducting a trade-in or purchasing a car at an auction, follow these simple steps to appraise it on your own:
With the help of the VIN number, you can find out the car’s average market price.
After that, check the odometer and input the mileage and you’ll see how the price goes down.
Does the car have impressive updates like a sunroof, navigation system, etc.? Select the trim level and you will know the added value of each upgrade.
Enter the desired margin to get the final estimate.
Based on the actual market price, your submitted margin, and reconditioning costs, the site will share with you the Wholesale Appraisal Value.
Why opt for professional appraisal services for Car Appraisal in New York?
A professional appraiser is a person who possesses in-depth knowledge of cars. Trained appraisers know the standardized process of finding out the fair value of a car and they also offer an appraisal certificate. Here’s why you should go for Car Appraisal New York:
Background Research- While buying or selling a used vehicle, running a background check is a must. This reveals everything from the maintenance history to damages caused during accidents. It is challenging to obtain all details without the help of an expert. So, you can skip this hassle by outsourcing the job to a car appraisal company.
Specialized Equipment- Car appraisal companies have knowledgeable professionals and the necessary tools for appraising vehicles quickly. They will give you a realistic valuation depending on several parameters.
The Best Value- If you wish to trade your old car for a brand new one, being ready with an appraisal report from an agency will prove useful. Dealers will try their best to undervalue a used car, but knowing its right value will save you from getting duped.
Mental Peace- Saying ‘yes’ to car appraisal services also makes you happy as you are confident about getting a fare value.
Now that you know the market price of your old car, you will be able to sell it competitively. It is a satisfying feeling to get a fair price for an old item.
Doing some research on the value of a car can help you become a savvy buyer or seller. This will help you avoid losses as you can be sure if a specific car deal will be advantageous for you or not. You can also use the information you derive from the car appraisal site during negotiations. Lastly, walking away is always an option. So, if you do not like the final offer made by the buyer or seller, it is never too late to walk away and explore more options.
Daniel “Dan” Jendrowski
Certified Public Auto Appraiser Diminish Value Experts B.C.A.A. & I.A.C.P.
For FREE Consultation with an Expert Auto Appraiser, call