Blog

What is the Value of my Car?

Are you thinking of selling your car and want to know the value of your car? Not sure how the value of your car has changed since you bought it?

After buying a new car, its value drops dramatically, meaning you can usually only sell your car for less than you bought it. This is known as car depreciation: the difference between the value of your car when you bought it, and the value of your car when you sell your car.

The current value of your car depends on the make, model, body style, version and year and many other factors. These factors also contribute to the rate of car depreciation for your vehicle. Car depreciation varies from vehicle to vehicle, but is approximately estimated at between 15-35% in the first year, and then up to 50% or more over three years.

Find out which cars have the lowest car depreciation rate in this survey by Glass, featured on the Auto Express website.. The survey revealed that the MINI has the lowest annual average car depreciation at a rate of 16.40%. However in general, it has been found that SUVs and 4x4s retain the highest car values with the lowest car depreciation rates.
If you are buying or selling your car, it’s important to know the value of your car, so that you can ensure you receive / offer a fair price on your car. To find out how much your car should be worth, you can use a car depreciation calculator.

If you want to get an excellent price on your used car, then sell your car in the North East with We Buy Cars For More. Enter your details on our online registration form for an unbeatable quote now! And remember, if you’ve received a cheaper quote elsewhere, we guarantee to beat it by at least £100 if you bring in the written quote!