The second-hand car market is the one with the least decrease in sales during these months. The strengths that keep this market attractive They are the price, well below that of the sale of the brand new models, and the possibility of taking the chosen car home from one day to the next, as they say.
The sale of the private car can be subject to several reasons but almost always involves the same process, which begins with the determining question: How much is my car worth? As the public well knows, cars are not an asset that keeps its value intact. What’s more, vehicles automatically lose 10% of their residual value when leaving the dealership, according to CarFax.
The first thing to do when selling the vehicle, then, is know its market value, which is the theoretical maximum price that a certain car can achieve on the second-hand market. This value depends on many factors, including age, but also the make and model.
The venal value is also the reference used by most insurance companies to establish compensation in case of loss or theft. Therefore, it can be increased if an added value is tested, such as the installation of extras or equipment.
How to calculate it
Said value can be known through from a list drawn up by the Ministry of Finance through some tables and those corresponding to this year can be consulted here. All you have to do is look up our car model to find the exact market value.
Afterwards, you can know the market value based on 100% of what is established by the Treasury and subtracting the percentage according to the date of first registration. Thus, if the market value is 100% with less than one year, with more than one it will be 84%; more than two, 67%; with more than three years, 56% and with more than four, 47%.
The value is reduced until reaching 12 years old, in which then the market value remains at 10% of what is stipulated by the Treasury. It must also be taken into account that, in the event that the vehicle has been used for professional purposes such as taxis or driving school cars, the value decreases even more.