You’re looking for a new car. Aside from knowing what car you want and where to find it for the least amount of money, the most important thing you need to know is what your car is worth. If you know what it’s worth, you can drive the best deal confident in the knowledge that you’re you’ll get the deal regardless of what the sticker price on the window says.

As a starting point in any new car deal, it’s vitally important to know what is a fair price to ask for your car. Getting an accurate car valuation will put you in the driving seat. The good news is that getting an accurate and trusted price for your car is easier than ever – the Internet is most definitely your friend. Gone are the days of relying on your dealer to share the contents of their well-thumbed Glass’s Guide or Cap ‘bible’ – now, a decent valuation is just a few mouse clicks (or thumb swipes) away.

The importance of an accurate valuation can’t be underestimated. Knowing what your car is worth will help you get to a fair deal when trading in. It will also help you get a fairer price for your car if you decide to sell.

The car valuation checklist

It’s important to get a fair and accurate valuation of your car. Be honest with yourself – would you rather get a realistic valuation or an artificially high one that might make you feel good about your purchasing decisions, but ultimately won’t help you get a good deal? Exactly.

When you’re checking out an online valuation tool, it’s worth making sure it has these features:

It’s backed up by real transaction prices within the industry
Registration number entry – so you get a valuation tailored to your exact car
You get a range of valuations depending on the condition and whether you’re privately selling or trading in
The ability to select the exact mileage and any options fitted to your car

There are number of online price valuation tools, so check all of the above are covered.

Factors that affect valuations

If you’ve done the right thing with your car while you’ve owned it, you can make a significant impact to what it’s worth. Mileage makes a big difference the value of your car and keeping them down will help you enormously – admittedly, that’s easier said than done.

However, keeping it well serviced and the book stamped by the garage is in your hands, and make it easier to sell and improve the value. Whoever’s buying your car will appreciate that it’s well-looked after, and in tip-top order – and they will pay more for the peace of mind. Finally, when you sell if you have some say over when it goes, sell it at the right time – sports cars in spring, off-roaders in winter, and your valuation will be a good guideline: price it at the top the range you’re given.

What is the price to change?

Dealers are often tempted to offer an artificially high price for your car against one he’s selling with an artificially high sticker price. There’s sound psychology behind that – if you’ve been to a few dealers before visiting theirs, and if they offer more for your car than the next guy, then that looks like a very good thing.

Although there’s nothing intrinsically wrong with this practice, you need to be aware of it. With your valuation in hand, you’re more accurately able to gauge just how good the deal is and concentrate on the price to change.

Two dealers have the same car, but one is £500 more expensive than the other. The second dealer offers you £300 more for your car, which might make you feel better in the first instance, but if he offers you any less than £500 more for your car, you’re getting a poorer deal. Knowing exactly what your car is worth will take any doubt away – you’ll know just how good your deal is.

What’s the takeaway?

Shop around. Try several car valuation tools to get an accurate consensus of your car’s value. Combine this with any specific and desirable details to for your car, and you will have a good idea of what to ask when it comes to getting the best part-exchange value for it.

To get a better idea of what people are expecting to pay, check out adverts for similar cars to yours on Parkers cars for sale, and price yours accordingly. Scan the adverts on cars for sale sites such as Auto Trader, eBay, Motors or Parkers.

If your valuation is below what other people are asking, adjust your price accordingly. There is no exact science, only that the more money you get for your car the better. This rule of thumb can be applied if you’re looking to sell privately, trade-in with a dealer, or negotiate a new PCP at the end of your deal. It’s a buyers’ market – and you’re buying, even when you’re selling…