Car valuations: how much is your car worth?

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Car price calculator, free online valuation or dealer quote? Check our guide to finding the right used value for your car

How do I value my car? It’s the obvious question you need answering before setting foot in a dealership with a part-exchange in mind, or posting your car on a classifieds site when you’re thinking of putting it up for sale.

Finding out what your car is worth is not always straightforward, so our guide to finding the right used car valuation will help you, whether it’s setting the right price to attract a private buyer with your online ad, or haggling with a salesman on a dealer forecourt.

• How to buy a new car

How much is my car worth? 
As a rough rule of thumb, a new car will lose 60 per cent of its value in three years. This means a car you bought for £25,000 will sell for just £10,000 in three years time.

That would be far too simple though, because not all cars follow a fixed route of depreciation - some preserve their value better than others, and it’s important for owners to know why. 

What factors affect your used car valuation most?
Most cars lose the bulk of their value in the first three to five years, and the AA estimates that after eight years many cars are unlikely to depreciate further. But the make of your car can easily determine how much the years devalue your vehicle. The car valuation service Glass’s published a report recently highlighting the lowest depreciating car brands in the UK: 

Make    Annual rate of depreciation
Land Rover    20.3%
Tesla    28.5%
Maserati    29.8%
Audi    31.1%
MINI    31.3%
Jeep    31.7%
Lexus    33.0%
Dacia    33.6%
Mitsubishi    34.0%
Mazda    34.2%
As the data shows, premium makes tend to retain their value better than budget brands. Ford more information of the best and worst cars for depreciation follow the links below.

• Cars that hold their value best
• Fastest depreciating cars
Age and make are factors drivers will be unable to change after purchasing a vehicle, but where every motorist can make the difference is how much and how carefully they drive their car. Mileage on a car is what most buyers look for, and keeping it low will go a long way to ensuring a higher sale price.

Servicing aside, a clean and well maintained car will always sell for a better price than a scruffy example – remember this the next time you’re attempting an ambitious parallel park. While it may be a pain in the neck to have work done, calculate carefully whether the cost of repairing that scuffed alloy, panel ding or cracked light lens will repay you at resale time – an immaculately presented car is usually a magnet to buyers.

Seasonal factors are also worth considering. It may be a cliché, but convertibles and sports car prices do rise in the spring. Likewise 4x4s and SUVs tend to be more in demand in the winter.

Taking all this into account, the next step is to find out how much is your car actually worth. 

How to value your car
The easiest way to get a rough estimate of your car value is to go to a classifieds website and search for your specific make, model, and year with a similar mileage and condition to see what people are willing to fork up. Keep in mind that most advertisers will accept an offer near to the asking price though.

Going to a dealership and asking for a value might not be as accurate as hoped for, as dealerships will often give a low-ball offer. They have their own margins to cover, after all. Don’t use dealer used car prices to set the value for your privately advertised car either – buyers who use dealers are usually prepared to pay more because they provide monthly finance deals or warranties. Some buyers also they feel there’s more legal protection if things go wrong.

• How to cut your car service costs: cheaper repairs, MOTs and servicing 

Industry professionals such as CAP and Glass’s provide a service where you input your vehicle details and they provide you with a rough estimate. These are often paid services, but could be worth the money if you can't seem to find the right value by doing your own research – and of course your potential buyers may be making similar online searches too.

Ultimately, though, a car will sell for as much as someone is willing to pay for it, so don’t be afraid to be slightly optimistic when putting it up for sale - and take money off if it won't shift.