Where can you get your car valued?

By Ané Theron

Your car loses value the moment you drive it from the showroom floor, and by the time you want to sell it, a huge financial bite has been taken out of it! How to know what your car's worth now? Here's where you can determine a realistic value for your car.

Trade or retail price?

Firstly, there's the trade value, which is an indication of how much a dealer would be likely to offer you if you were to trade in the vehicle on another one, while retail value is an indication of how much a dealer would sell your car for if it were parked in his showroom.

There's quite a difference between trade and retail values. Trade is significantly lower than the retail value (by up to 20 percent), due to the fact that there's a mark-up for dealers built into the retail value - that's how he makes his money, after all. These values are influenced by the popularity of your car in the second-hand trade, as well as a car's reputation among pre-owned dealers.  These values are also determined by the condition of the car, its age, its mileage, damage, an accident history (or lack thereof), and so forth. Lower kilometres on the odometer will result in a higher price, just like a car that is relatively youthful.

Take it to a reputable dealer - more than one, if you like

A dealership is probably most equipped to give you a proper valuation on your car - whether he is subjective or not will also depend if you're planning a trade-in at that said dealership... If you're not satisfied, you're free to take it to another.

There are a variety of online tools available

You can use AutoTrader's What's it worth online valuation calculator for a quick check, but bear in mind that there are many other variables apart from just year and mileage. No online valuator can see damage, a service history, or replaced parts. Another option would be the Digital Dealer's guide, based on the well-known Mead & McGrouther reference book. Just download the Transunion 1-Check app from your relevant app store.

Consult a mechanic

Taking your car to a respected mechanic will also give you a better indication of what the real situation is under the bonnet. Although a mechanic may not have the knowledge of market prices that a sales exec will, his opinion is still valuable. Between the mechanic, the dealership and the online valuator, you're sure to get a good idea of how much your car is worth.