Cars don’t last forever, and even the best looked-after vehicle will reach an age when the cost of maintenance and repairs makes it more affordable for you to buy a new one. The questions that often get asked usually involve, “Should I buy new, buy used, trade in while I can, or keep on driving to the end?
If you’ve had your current car for six years or more, that day may be fast approaching – so, when should you sell?
New cars shed their value
Most cars lose a big chunk of their value during the first three years of their lifespan (typically 30% or more), and after that they gradually depreciate at 10% or sometimes less. What does this mean for you as a vehicle owner?
The longer you keep your vehicle, the less you will be able to sell it for – but the more use you will get out of it. You’ll have to make the choice between driving a reliable car that has been paid for in full and upgrading to a newer model.
Do second hand vehicles make more financial sense?
If you choose to buy second hand, you’re probably making a good financial decision. A well-maintained used vehicle isn’t just more affordable – it will also lose its value at a slower rate and leave you with the option of trading it in or selling it in a few years time.
The value of a car isn’t just determined by its age. If your vehicle is accident-free, properly maintained, and has relatively low mileage, you’ll be more likely to get a good price for it.
If you’ve had your vehicle for ten years or longer, you can definitely still sell it and have a good amount of cash on hand. Our value your car tool provides a free service that will give you an accurate idea of just how much your car is worth. If you accept our valuation one of our representatives could call on you to make an on-the-spot offer.
We are currently on the lookout for models produced between 1990 and 2008, so if you have been attached at the wheel to your trustworthy steed for 20+ years, perhaps it’s time to consider just what it’s worth to you. Call us today
Car insurance is simple to understand – you pay your premium every month, and if your car is damaged or stolen you make a claim and wait for the money to come.
Except, sometimes it’s not as straightforward as it seems.
What exactly are you covered for?
Did you know that it’s possible to pay a lot less in monthly insurance premiums? Many insurers are advertising policies with super-low monthly prices at the moment – but before you sign, make sure you understand exactly what kind of cover you’re getting.
Low cost may mean low cover
Some low-cost insurance policies only cover your vehicle at a lower value than it would cost to replace the vehicle. In other words, if your car were stolen or written off, you wouldn’t be able to replace it with the insurance payout you’d receive.
You can think of this type of policy as a ‘part payment insurance’ – it will pay out some cash that may help you buy another vehicle, but it won’t cover the full cost of replacement.
It’s a good option for disciplined savers
If you are disciplined with your money and you are confident that you will bank the money you save on premiums every month, you may want to consider a lower premium policy. If you want a policy that covers the full cost of replacing your vehicle – stick to the more comprehensive options.
What’s a fair replacement value for my vehicle?
If you’d like to know how much to insure your vehicle for, we have a solution ready and waiting for you.
Visit our vehicle valuation page, enter some basic details about your car, and you’ll get a fast, accurate estimate that you can use for insurance purposes.
Whether you’re getting ready to buy that car you’ve had your eye on for ages, or finally sell your trusty set of wheels and upgrade to a newer model, there are a few things you need to know.
By understanding some of the ins and outs of vehicle sales (including the all-important process of finding out what your car is worth) you’ll be able to get the best possible deal as a buyer or seller.
It’s all about the value...
Buyers and sellers are usually interested in one important figure – the sales price of the car they are buying or selling – and of course, the better the price...the better the deal.
The book value of a car is calculated by using a daunting-sounding financial tool called a depreciation formula. Fortunately, car brokers and insurance companies do the maths for you and publish the book value of cars on a regular basis.
The only problem is, book value is usually different than the price you’ll pay for a car, which results in many people asking themselves, “How do I know that the book value is the price that I should use to sell my car”?
Want to know how to really value your car?
Considering how important it is to know the fair price of a vehicle (so that you don’t buy or sell it and get a bad deal) very few consumers know how to work out the actual value of their vehicle. That’s where we come in, in a very easy way.
If you’d like to get an accurate valuation on your vehicle, simply visit our website today and input your car’s particulars. You will need to have certain information at hand namely; your vehicle type, year of first registration, the make and model, the condition and mileage of your vehicle, and lastly, why you need a real value (buying, selling, insurance valuation etc). You’ll get a free, accurate quote that's accredited by TransUnion that will help you buy or sell your car at the best possible price. If you are happy to accept our valuation you could even request a visit from one of our representatives to consider an on-the-spot cash offer.
Don’t waste time driving from one dealer to the next to get a value on your car when you can get an actual value right now with our free book value calculator. What are you waiting for?
"Thanks, VYC! Great service. Quick and friendly guys that assisted with a smile. I will definitely recommend them to anybody else looking to sell their car."
"Wow! Great and efficient service, a fair price paid for my car with no haggling. Immediate payment and collection when convenient for me. A lucky find, highly recommend."
"What an AMAZING experience. Fast. Efficient. You guys really go the extra mile!! If I ever want to sell my next vehicle, you will be top of my list!"