India being the second most populous countries of the world has seen a rise in the number of cars too. This has led to buying new cars and selling off the older ones but after valuing them. Read more about Car sale valuation India,it was primitively being done by the MVI but alternatively today we have a lot of websites doing this and helping us serve the purpose and get knowledge of how valuable our car is.
Some insane facts about car valuation in India
The Make of the Car
Valuation of the car in India depends majorly on the manufacturer of the car. You can have a car of a good maker valued for a good deal but then if it is not that well known among the buyers; it is a complete waste, and whatever the cost of the car or the value is. A recent example of the case being with a one-year-old Skoda Yeti which was bought at 17lakhs in the year 2014 now has a value of 9.75lakhs without any goods takers for it. Here no one would blame the maker, but if it is not that known among the costumers, it doesn’t sell.
Only Cars of Popular Names are Valued Well
Owning a car was once a luxury during which some prominent names were popular and persisted. The cars of such names like Maruti Suzuki and Hyundai which have made a stand in the scenario only find good valuation and the rest disperse with not so good ones.
Valuation in Person
Earlier, valuation of cars in India was done at first by the Motor Vehicle Inspector (MVI) who would check the condition of the cars and then give a particular number but that is likely to be either more or less than another buyer who would give either a better or a worse deal. This makes the value tangible and changeable too.
Valuation of Government Cars
When it comes to government vehicles and the ones driven in and around government offices, the MVI again sets a benchmark to the value of the car and lower to which the car can never be sold off. This makes the valuation a very strict issue.
Condition of the Roads
This developing nation has connectivity to all the parts, but some of them have rough roads. This affects the cars and hence reduces the value of the cars in the long run.
For the car owners, there is a deprivation rate for every car that keeps on reducing the value of the car at a fixed rate every year upon which the valuation stands. This makes its value go even less than expected.
Low on Maintenance
Today in this busy world everyone is so much their works that it has become difficult on their part to take care of themselves. In such a situation, when it comes to maintaining cars it is a taboo. Cars are hardly maintained, and hence this decreases the values to a great extent.
Lack of Driving Skills
Riding a car has been a fashion and behind it the art of driving has completely been neglected and this leads to many mechanical defects of the cars that directly affect the car’s value later.
Increasing Rash Driving
Disrespecting the basic principles of driving and driving it rashly makes it vulnerable and hence makes it prone to lowering the value of the cars.
Difference in Opinions and Expectations
In such a diversified state, it is justified to have a lot of difference in opinions on the topic of valuation of a car and, of course, the seller will have a lot of expectations from his car and the buyer, on the other hand, would want a cheaper deal. This leads to many complications in the process that continue further!
All these factors lead to play very important roles in the valuation of a car. When planning to sell off an old car and go for the process, one should have in mind all these facts and then can get the best deal for his old car or the best deal to buy the pre-owned car. This can be a check and assurance to both the sides simultaneously!