Step 1: Online Car Valuations Online valuations can provide a good starting point for determining a fair price for your car. Websites such as carpoint.com.au or redbook.com.au offer these valuations based on the following details: - Make - Model - Milage - Condition *
(If you have any issues with these sites, please let us know and the Motor Hospital will be more than willing to help get a valuation for you).
Step 2: Research the Market and Competition Once you have a starting valuation, it is important to see what similar cars are selling in the current market. You can do this by looking at car ads on websites such as automarket.com or carsales.com. This research will allow you to build a price range where your car is most likely to sell.
Step 3: Determine the Price To narrow down where you fit in your price range, the main elements to consider are the condition of the car* as well as if there are any extras or additions (sunroof, sound system, rims, accessories). A top condition car with accessories will sit at the high end of the range while cars with more issues will sell for less.
The final factor to consider before setting your price is to allow room for negotiations. A general rule is to add $1000 to the amount provided in your online car valuation in step 1, to avoid negotiations bringing your price below the value of the car.
* The condition of the car should be valued on the state of the : - Engine - Paintwork (marks, scratches or dints) - Tyres - Interior - Electrics