How much is my car worth?

Ireland’s number one and most trusted car valuation system

Ireland’s number one and most trusted car valuation system

When you buy or sell a used car it is always a good idea to know the current car value and to know what similar make and models are being sold for in Ireland and the UK. The MyVehicle.ie car price calculator bases its results on a current market overview taking into consideration the entire Irish market.

Our Ireland/UK valuation system is Ireland’s number one and most trusted car valuation system used by 100 per cent of insurance companies for accurate valuations.

Our valuations are also used on a daily basis by several financial institutions, hundreds of Independent and Franchise motor dealerships across the Country, all of whom are dependent on the accuracy of the valuation.

Not only is our valuation system used by all the insurance industry in Ireland but it is also being used on a daily basis by almost all independent Vehicle Assessors, hundreds of franchise and independent motor dealers.

Knowing the true value of a car will most definitely put you in a strong negotiating position on price, no matter if you are the buyer or the seller.

If you're selling you can guard against a potential buyer driving the price of your car down too low.

If you're buying you will spot if a seller is asking too much for the car and you can use the third party valuation to guard against paying too much.

The valuation takes into consideration the entire market and so it’s not just an opinion a market overview giving you an accurate depiction of the price of a car in Ireland.

To get an accurate vehicle valuation of any vehicle just enter the vehicle registration number in the reg box.

Why should I get a car valuation?

A car valuation report can serve a number of purposes.

  • It can tell you how much you can get for your own car if you are selling
  • It can give you an accurate estimate of the current market value of the car if you are buying
  • It can be used as a price negotiation tool if the car you want to buy is overpriced
  • It can be used to prove your asking price if you are the seller
  • It could in fact save you hundreds of euros just by having a third party independent price not based on just an opinion

How the car price is calculated?

MyVehicle.ie recognise that no two cars are the same and therefore values will vary on similar based on a number of factors. Our valuations are calculated on a complex proprietary vehicle valuation system developed by our parent company VMS (Vehicle Management System), which provides valuations to the entire insurance sector in Ireland.

The MyVehicle.ie proprietary valuation takes many variables into consideration, from age, mileage, owner type and category, varying levels of vehicle specifications and a host of other variables.

Our car valuation calculations focuses on trying to match like for like vehicle examples currently or recently advertised for sale within the Irish marketplace and takes into consideration the number variables associated with determining the value of a vehicle.

In essence, MyVehicle.ie provides a fair valuation which is based on an all Ireland market overview price indicator. If a vehicle had additional specification that is not standard, this may very well add value to the vehicle from a buyer/seller perspective, but this really depends on what the extra specification is, along with the type of vehicle and the age.

Why are dealer values different than private seller valuations?

Dealer values will vary and no individual or organisation is obliged to adhere to the current market valuation as it is a free market.

There are many variables that may prompt a dealership or trader to ask a higher price for a particular vehicle. Some variables which affects how a dealer will value a car:

  • How old is the car?
  • Does the vehicle have a full/partial or no service history?
  • Has the car low or high mileage?
  • How many owners has the car had?
  • Is the car high-spec or standard?
  • Has the car got its NCT?
  • Is the car still taxed?

Traders and main dealers may also offer a warranty and all these things combined could attract a higher price tag while the opposite can result in dramatically lower values. Motor dealers are aware of these variables and factors in their retail environment but they still utilise our car calculations as part of their business as an overview market guide.

How does car mileage affect value?

Yes, mileage is a very important factor in car valuations as low or high mileage affects the value of the car at purchase and sale, as well as in the cost of maintenance and servicing.

The average annual mileage of a car is around 20,000 kilometres (approx. 12,000 miles) so if a car has mileage of say less than 100,000 (approx. 60,000 miles) after five years it would be considered low. If it's much more, it would be classed as high.

Both buyers and sellers should be cognizant of the impact that an odometer reading can put on the true selling price of a vehicle and readjust their opinion of the value in either direction depending on the circumstances.

What can affect the value of a car

There are many things that can affect the value of a car, such as when the car was first manufactured, how far it has been driven (mileage) etc. so getting an accurate estimate on the value of the car is very important. Bear in mind, though that each car is unique and there are many things that can affect its current market value.

Things that can increase the value of a car:

  • No damage: If a car is in excellent condition it will be worth more
  • Good condition: A car with just minor wear and tear and less scratches on the paintwork can be worth more
  • Low Mileage: Obviously a car with lower mileage will increase its value
  • Number of owners: The less owners a car has, the higher its value. The ideal is to have just one previous owner from new
  • Optional extras: For example, rear-facing cameras, in-built sat nav, multimedia systems
  • Desirable colour: Some colours are more popular a sought-after colour can be worth more
  • Full service history: Having a full service record with not gaps in its service history indicates that the car has been taken care of and this can increase its value

Things that can decrease the value of a car:

  • Damage: if the car has been damaged and has been categorised by an insurance company, this can significantly decrease its value
  • Bad condition: Significant wear and tear can also lower the value of the car
  • High mileage: Obviously higher mileage means lower price
  • Parts not working: If main car parts need fixing or replacing for example, electric window don’t work, central locking etc. it will have a negative impact on the car's value
  • No NCT or TAX: If there isn't a current NCT cert or there are significant gaps in the tax history, it can reduce the value of a car.
  • No service record: Gaps in the service history or no current MOT
  • Lots of previous owners: More owners means more devaluation
  • Depreciation: Remember, depreciation means devaluation

What to look out for in valuing and buying a car?

Car valuations will take into consideration Make, Model, Year of the vehicle along with the engine size, fuel type and mileage.

Tips for car buyers:

  • Do your research (make good use of the internet)
  • Check all documentation (Use your history check report to corroborate)
  • Always haggle (Negotiate and bargain on the asking price)
  • Buy based on purchase price (Do not decide based on repayments)
  • Factor in extra costs (Tax, insurance, fuel costs etc.)
  • Do not buy on impulse (carefully decide and consider all factors)
  • Stick to your budget (do not go over what you can afford)

Tips for car sellers:

  • Paperwork (Have your VLC and NCT documents ready for inspection)
  • Car valuation (Purchase a full vehicle history check and valuation)
  • Advertise (Give as much detail about the car including mileage)
  • Images (Use high quality images, include NCT Cert and Odometer)
  • If price is negotiable (Be prepared to reduce your asking price)
  • Receive full payment (Always receive full payment from the buyer)
  • Register (Always register the change of ownership with DTTAS)

Helping you get the best price

Whether you are a buyer or a seller, you always want to get the very best price deal. Here are some questions and answers.

Q. Why should you get a car valuation?

A. For a buyer, you will always want to get an accurate estimate of the current market value of the car you are looking to buy so that you do not pay over the odds

A. For the seller, it can tell you how much you can get for your own car and having a third party valuation can help you to get the very best price from those buyers who love to haggle.

Q. What is the benefit of a car valuation?

A. For the buyer, it can be used as a price negotiation tool if the car you want to buy is overpriced.

A. For the seller, the report valuation can be used to prove your asking price if you are the seller and want to convince the buyer that you are not just giving an opinion.

Q. How to get the best price for your car?

A. For the buyer, A valuation report could potentially save you hundreds just by having a third party independent price not based on an opinion.

A. For the seller, keep your car well maintained and serviced. Clean it!

Q. How is car price calculated?

A. Our proprietary car valuation calculations are based on multiple variables. Some basic elements of car valuation calculations include the following:

  • Make
  • Model
  • Year
  • Engine size
  • Fuel type
  • Mileage

Q. What can affect the value of a car?

A. There are many things that can affect the value of a car and some of these include:

  • Age
  • Condition
  • Mileage
  • Damage
  • Number of Owners
  • Write-off Category
  • Transmission type
  • Full Service Records
  • NCT (Pass & in date)
  • Motor Tax (in date)

Disclaimer

MyVehicle.ie does not take any responsibility for sellers not attaining these types of car prices when selling their vehicles and also for purchasers not being able to purchase a Car at these prices. All prices are a guide and an asking price is not necessarily the selling price. The MyVehicle.ie market overview car valuation is for guidance purposes only.



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