How can I calculate the value of a used car?

Feb 05, 2021
How can I calculate the value of a used car?

Indeed, buying a used car always carries some risk. You don’t know how the car was driven or maintained or a list of accidents as a buyer. Judging the value of a used car is based on multiple factors. This blog shares insight on helping you estimate the same. Before you evaluate the car, it is best to decide on your budget. For this, you can do some research as to a realistic price of a second-hand vehicle according to its age, model, and make. 

Remember there are no official guidelines as to the prices of used cars, so vehicles are sold at the market rate. Researching would be your best tool. 

Where to buy?
While you can get plenty of used cars at used car dealerships, they are generally priced higher. Buying directly individuals are generally. You can also try for used cars for a variety of brands. Here are factors that impact your car cost:

One good thing about living in Riyadh’s hot, arid city is that cars do not rust, considering the climate. So they tend to look relatively new on the surface. But when you take a closer look, there may be some damage. Heat takes its toll on the less visible parts, like body finish, tires, gaskets, hoses, and belts. Hence, you should ensure that a mechanic gets the car adequately checked, especially the undercarriage. 

Test driving
Take the car for a drive along with the mechanic to assess if the gears and engine are in good condition. It may seem time-consuming, but it is well worth checking the car out thoroughly to determine its value.

Cars that are older than five years would have lower fuel economy. Older cars also require more maintenance. So, while you may get a lower value for it, the additional maintenance costs would be high, and your resale value would be subdued

Imp: Did you check the Fahas?

It is critical that you don’t evaluate the cost of the car without seeing the maintenance records or Fahas. Any car-owner would know that having a good maintenance record is the key to getting more value. And the seller knows this as well. You should avoid buying a used car from anyone who can’t back up their claims with paperwork.
There are a variety of online tools available that help you determine the same. But again, if you are buying from a showroom it would mean a higher price.

If you are looking for a used car, we have quite a few available at: 

You can also try our ’Verify Before Purchase’ service. For a fee of SAR 150, we will verify the condition of the car for you. 

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