What Gives a Car Value in the UAE?

blogs/3.   What gives a car value in the UAE

CrazyCarCorer.com keep track of transactions of car value in the UAE and offers a priceless resource: comprehensive data on what sells and at what price. To ensure they are receiving a good deal, or at least a fair one, anyone wanting to buy or sell a used car should be aware of these numbers.

Key Takeaways to Calculate the Car Value in the UAE: 

There are so many well-liked resources that can assist you in determining the worth of your used car.

Your car's worth will vary depending on several criteria, including mileage, condition, location, and colour. Because tastes vary widely and fashions are ever-evolving, personalising an automobile can often depreciate.

Knowing How to Value a Used Vehicle

The most reputable source for pricing information is Kelley Blue Book (kbb.com). Through the observation of consumer sales, wholesale auctions where dealers purchase and sell automobiles, sales by independent and franchise dealers, and other activities, it tracks thousands of new and used car buyers every week. 

Along with CrazyCarCorner.com, car dealers are a fantastic source of information about prices and purchases. The sources' prices differ because they extract different data and employ different methods to calculate the value of your car.

Distance Travelled and State of Repair

To put it briefly, mileage and condition are the primary criteria that determine a used car's price. Colour, location, and options all come into play.

Wear and tear goes up with mileage. "Compared to a car with 30,000 miles, a potential buyer would be less willing to pay top cash for one with 200,000 kilometres.”

While the condition is more arbitrary than mileage—a trustworthy, accident-free automobile with paint blemishes and surface corrosion, for example, might be described as great by someone selling used cars, while most purchasers would probably classify it as good to average—condition is nonetheless just as significant in determining value. "Mileage and condition are not directly correlated, even though they are closely related.

Even low-mileage cars might develop more wear and tear than is reasonable, which lowers their value. Automobiles with ripped leather upholstery, malfunctioning electronics, dings or dents, or other comparable problems will not be in great demand, which will lower their value.

Depending on the vehicle in question, the location of the car may also be significant. Although mid-range family sedans are well-liked worldwide, various regions benefit more from more specialised automobiles. The four-wheel-drive trucks and SUVs perform best in the Northeast, Midwest, and other regions that receive a lot of snow. Convertibles and sports cars are more expensive along the coast and in warmer climates.

Car Personalisation Can Decrease Value

Larger wheels, audio speakers, and rear spoilers are examples of aftermarket accessories that infrequently increase value rather than depress it. According to experts, "buyers don't know how well the work was done" when it comes to aftermarket modifications. 

Additionally, the original owner may have a different idea of what constitutes an outstanding car than the general public (for example, if you're trying to sell your car quickly, get rid of the falsehood scoop, coal-black window tint, and seat covers with zebra prints).

Finally, Let's Talk About Exterior Colour. More popular colours like blue, metallic greys, and silver sell more quickly than daring hues like brown, orange, or purple, albeit this does not affect the price.

Particular Things to Think About When Appraising a Used Car

The value of my used car is determined by a number of criteria, the most significant of which are its miles and condition. Options, location, and colour are influencing variables after that. 

But such guidelines aren't set in stone; what applies to a manual-shift racing car could not apply to the family truck. A vehicle lover will find a Corvette with a slushbox depressing. However, a manual minivan (which was available formerly) is equally useless.