Know the Fair Market Value Of Used Vehicles

The buyers in the used-vehicle market are looking for better options among the pre-owned vehicles as they serve as a great value for money product. Customers can buy a used vehicle, which is in excellent condition both aesthetically and mechanically, at a very reasonable price. And this way, we do not have to spend a fortune on the car we want to buy. However, the trickiest part of all this comes when we get to determine the correct value of a used vehicle. Both as a seller and buyer, we fail to understand the fair pricing of any pre-owned vehicle.

There are various factors that play an important role in the depreciation of the value of your vehicle over the time. Some of these factors are the model of the vehicle, year of manufacturing, trim/variant, the odometer reading that states the kms driven, etc. But for understanding all this, we need to get expert opinion and professional advice. And this is where the online price calculating tools like Orange Book Value (OBV) come in.

Orange Book Value from Droom, the first and only algorithmic pricing engine for used vehicles in India, comes as a boon for the used car buyers and sellers as it helps in determining the exact value of any used automobile. OBV suggests the Market Value of a Vehicle of pre-owned vehicles including cars, motorcycles, scooters, bicycles and even aeroplanes in less than 10 seconds. This has brought a revolution in the used vehicle industry that has made buying or selling of second-hand vehicles a lot easier than it was ever before.

Sandeep Aggarwal – Revolutionizing Business with Technology

Sandeep Aggarwal is the founder of ShopClues – India’s first managed marketplace, and Droom – India’s first marketplace for Automobiles and related services. Known as the father of marketplaces in the Indian start-up ecosystem, Sandeep Aggarwal is extremely passionate about mentoring the start-ups in the country to help them develop their expertise on the entrepreneurial front. He founded ShopClues in early 2011, and started Droom in April 2014. While ShopClues witnessed a great success under his leadership, Droom is seeing a tremendous growth with Sandeep Aggarwal running it as the Founder & CEO. 

Sandeep Aggarwal CEO single-handedly raised a fund of $1.95M from 16 of his friends and close aids in the initial days after the official launch of ShopClues. Although the company was the 35th entrant in the Indian E Commerce segment, it went on to become the 4th largest E Commerce company within the initial 8-9 months under his leadership. 

Droom has been witnessing a tremendous growth in terms of adoption by sellers, number of categories and listings, and GMV/transactions. Moreover, the company has geographical presence in 142 cities across the country. Droom is permanently changing the way automobiles should be bought and sold online by creating modern tools for the 21st century customers and building trust and transparency on pricing of used vehicles. The services offered by Droom have generated healthy revenue with more than 15% of the sellers having signed on for the subscription services and this figure is expected to increase to 40% by December 2017.

Sandeep Aggarwal - Journey of An Entrepreneur

Sandeep Aggarwal is the founder of two marketplaces in India, ShopClues – India’s first managed marketplace, and Droom – India’s first marketplace for Automobiles and related services. He is also an internet visionary, serial entrepreneur, angel investor and philanthropist. Sandeep Aggarwal launched ShopClues in the year 2011, that went on to become the 5th unicorn in the consumer internet industry in India. Later, in 2014, he founded Droom which is a one stop solution for buying both used and new automobiles and related services. Sandeep Aggarwal is widely known as the father of marketplaces in the Indian start-up ecosystem. Furthermore, he takes immense interest in mentoring the Indian start-ups to help them develop entrepreneurial traits and expertise.

Sandeep Aggarwal was born and brought up in Chandigarh. After pursuing his Bachelor’s degree in Commerce (B Com) from Kurukshetra University, he received a Master’s degree in Finance from Devi Ahilya Vishwa Vidyalaya. After that, Sandeep Aggarwal went to the USA to obtain an MBA degree in Strategy from Washington University in St. Louis - Olin Business School as a UGC scholar.

After witnessing a successful career in the corporate arena and working at famous US-based companies like Charles Schwab, Microsoft Corp, Citigroup, Oppenheimer & Co., Collins Stewart and Caris & Company, Sandeep Aggarwal founded ShopClues, and he never looked back. Sandeep Aggarwal ran the company as CEO until 2013; after that, he handed the responsibility over to Sanjay Sethi. In April 2014, he launched Droom that has become the largest online platform for automobiles in India within two years of its inception. It is the 21st century marketplace that uses modern tools and technology to operate efficiently in the automotive market. Droom uses data science and artificial intelligence to create trust, transparency, and pricing advantage for buyers.

Get the Right Used-Car from the Right Place with the Right Pricing

Determining the correct value of a used car is one of the trickiest tasks in both buying and selling of second-hand cars. Most of the cars that you see on the list of vehicles on sale do not live up to the expectations in terms of quality and condition. We see something on the internet and when we get to drive or see the car for real, it appears to be a totally different product. Even if the product seems to be offered at the right price when you see it online or read the description, it may not be the same when you see it in person and that might create confusion about the price you are going to buy it for.

So, to avoid such circumstances, you need to select the product as well as the place from where you are buying it very carefully. Do not ever go for a product that is not certified or does not have any rating about its physical condition. Most of the online used-car selling sites provide certification on the products they have listed on their page. However, there are many pre-owned vehicles that are not certified. Stay away from them!

Also, buy a second-hand vehicle from a place where you are getting after-sales support and road-side assistance as well. It’s your money, and you should spend it on the right product from the right place. The used car value that you are planning to buy might carry a higher selling price, but in this case, you should know the fair market value of the car, so that you can put that in front of the seller with reasons and negotiate the price on your terms. The goal should be to get the best value for your money.
To know more about Car Prices please visit the website.

Orange Book Value Launches its Exciting TV Commercials!

We are excited to share that we have launched our latest TVCs for Orange Book Value (a service by Droom). These amazing animated ads highlight how OBV empowers users while they are selling or buying any used vehicles online or offline. With OBV you can get fair market value of any used vehicle in 10 seconds. So, no more debate on “gaadi ka rate kya hai’!

Click the links below to watch catch our TVCs for OBV live:

What is OBV: https://goo.gl/ZPD12L

Why OBV:  https://goo.gl/nMpMPt

How OBV Works:  https://goo.gl/1hBhd3

Recently, we also launched new marketing campaign “Resale Ka MRP” under which we refreshed the look for Orange Book Value logo. The OBV logo in its new avatar is indicative of the core philosophy behind the brand - providing a fair price for used vehicles which reduces anxiety and facilitates a deal between buyer and seller. With OBV, buyers and sellers would have the same reference price for any used vehicle, thus reducing negotiations and buyer/seller remorse.

The 'O' in the logo is a combination of two smiling faces, which are symbols of buyer and seller. The color choice also reflects the values of the brand; blue signifies trust, peace, intelligence and loyalty while orange signifies energy and warmth.

The tagline - ‘Resale ka MRP’ firmly communicates OBV as the benchmark price for resale. Like MRP for new products, OBV is the reference pricing for vehicles which acts as an indicator for a fair deal.

Now stop pulling a number from the hat! Use Orange Book Value to know the fair price of your used vehicle - India's first and only algorithmic pricing engine. It evaluates price for used cars, bikes, scooters, or any other automobile even bicycles and even planes. Do not buy or sell a used vehicle without checking OBV. OBV is built using our proprietary technology and data science to help sellers determine the right value of their vehicles.

Now download Orange Book Value app and know “Resale ka MRP” for all used vehicles in less than 10 seconds for free.

Download Android or iOS mobile App

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Used Scooter Price Advice

Are you planning to buy a used scooter anytime soon, but don’t know how much money shall you keep for your budget? Also, are you thinking about the quality of the used scooters and worried about their reliability factor? For all those people, buying a used scooter is not much of a hassle if you understand the pricing of used vehicles and how it is done. First of all you need to select a model for yourself based on your necessity and choice of brand. After that you have to look for the options in the market for that particular model. And once, you have got the scooter which you want to buy, you can finally go and check it.

Do not be confused about the price of the used scooter price you are planning to buy. Keep all the factors of depreciation in mind and then have a look at it and take a test ride as well. Check from online pricing engines that suggest the actual price of used vehicles and give you an idea of the fair market value of them. Have a look at its physical condition and see for dents if there is any. Also, check all the features that are provided by the manufacturer and see if they are working just fine. If you find any non-working part or damaged ones for instance, you can totally negotiate on the pricing of the used scooter with the seller. Do not forget to check the tyres for wear and tear as that also plays an important role in the price negotiation factor.

Furthermore, it is always recommended that you take a professional and trusted mechanic with you while going for a test ride. In this case, the mechanic will give you an unbiased feedback about the overall condition of the scooter. Then take a test ride and look for its ride quality, mileage, comfort, etc. Most importantly, do not forget to ask for the service history of the used scooter as this will provide information about major repairs and damages.

To know more about Car Price please visit the website.

Orange Book Value: Transparency in Used-Car Valuation

Orange Book Value (OBV) is basically an algorithmic pricing engine that comes up with the current market value of used vehicles that include cars, bikes and scooters. Unlike other sources, Orange Book Value not just depend on historical data for determining a vehicle's fair market value but also uses scientific evidences and real-life factors that play major roles in value depreciation of vehicles. These factors include the make and model of the vehicle, the variant of the car or bike, year of manufacturing, the number of owners, odometer reading that indicates the number of kms driven, and also the basic physical and mechanical condition of the second-hand vehicle. You need to keep your car in a really good shape and very well-maintained in order to get a high market value from it at the time of selling it off. 

Objective of OBV:

The main objective of Orange Book Value is to help the customers get an idea of the fair market valuation of used vehicles. It is very beneficial to both buyers and sellers as it reduces the chances of price negotiation between the two and facilitates a quick selling of used cars value, bikes and scooters. It aims to act as a platform that suggests unbiased market valuation of used vehicles, which is strictly based on a thorough research and facts. 

How Does OBV Determine Used-Vehicle Condition

Being the used-vehicle pricing calculator by Droom, Orange Book Value rates the second-hand cars in four categories that define their health and market value. These categories are finalised after going through proper research on the car's condition, age and several different factors that play important roles in the market valuation of a used vehicle. Through OBV, used vehicle buyers and sellers will witness the condition of used cars, bikes and scooters listed as Excellent, Very Good, Good and Fair.

While the Excellent rating signifies that the car is in an absolutely fine condition and all the parts and features are in perfect shape, the Very Good category indicates that it has gone through very little wear and tear. On the other hand, the Good rating states that some of its parts have gone through repair and the percentage of wear and tear is more than the previous category vehicles. At last comes the Fair category which signifies that the used-vehicle has gone through major repair work and replacement of parts and many of its equipment work poorly.

According to these ratings, Orange Book Value gives the fair market value of any second-hand vehicle and the results are aimed to be the accurate valuation that leads the customers to the right path. It encourages a hassle-free process of used-vehicle buying and selling among the people.

To know more about Bike Prices please visit the website.

What You Need To Know About Used-Car Pricing

Before buying a used car from a dealer or an individual, you need to understand some things about how a car seller comes at the price he puts on the sticker. Generally, a dealer calculates his own of-pocket costs before determining a selling price on the used car. After keeping these costs, the dealer will decide that how much more money should be added to the prices of the used cars or bikes. The total amount is decided according to the condition of the car, make, model, kms driven and the market demand.

However, there is always a great chance of negotiation with the seller or the dealer about the prices of the used car price and bikes that can be negotiated to a considerable extent if it does not have much demand in the market. In this case, the dealer tries to sell it off at a much lower cost, however, there is a price beyond which he will not go. And that price would be similar to what other dealers are offering in the market for that particular model. 

Also, you should refer to pricing engines that suggest the fair market price of any used vehicle by keeping in account various factors that leads to price depreciation of any vehicle. In fact, these pricing tools are one of the best ways to understand and find out the actual value of your car, bike or scooter, as these results are obtained by using scientific calculation methods. 

Understanding used-car pricing is a mandatory thing before buying one, or else you might end up paying a lot more than the real price of the vehicle, which is absolutely not recommended.

To know more about Car Price please visit the website.

How Used Car Values Are Determined?

Understanding the way to calculate used car values is very much important in order to ensure that you get the best deal possible, when buying or selling a second-hand car. The price of any used car eventually comes down to a point where both the buyer and the seller come to the same decision and agree upon the final price in order to seal the deal. However, there are several different ways to determine the fair market value of a used car. 

1. Used Vehicle Pricing Guides: One of the most authentic and commonly used methods of determining a second-hand car’s value is referring to the price guides. There are several pricing engines available that calculate the fair market used car values and guide the sellers and buyers according to that. This helps a lot in quoting a fair price for any vehicle, and also, the buyers are satisfied with the price as they find a value for money product. The value is calculated by taking in account different factors such as make, model, variant, kms driven, physical condition, etc.

2. Vehicle Inspection Professionals: Vehicle inspection professionals can be of great use when it comes to used-car valuation. In this process, an expert will come to you and make a thorough assessment of your car, taking into account the condition it is in and the service record as well as the make, model and year. This method helps a lot in determining the fair market value of a pre-owned car. 

3. Local Dealers or Repair Centres: Another method to understand the valuation of a used-car is to get it checked by local dealers or repair centres. Dealers are a very good option because they are experts in their field and have a good knowledge of the going prices of used vehicles. Visit a trusted dealer or a mechanic. Your dealer can give you an idea of the fair market value of your car. Moreover, they can also help you with some tips to negotiate on the price of a vehicle. 

To know more about Used Car Price please visit the website.

How To Increase The Value Of Your Used Car

A brand new car loses its value as soon as it comes out of the showroom. Depreciation in used-car valuation is an inevitable process, but it can be in the owner’s hand that how much further will the car’s value depreciate over the time. It all depends upon how well you maintain your vehicle and what precautions you take while driving it. Even if you intend to sell it off just after a few months of purchasing, it is impossible to get the same price as you had bought the car for. However, there are some measures that you can take to get the best value from your car.

Go for A Car with High Resale Value
While buying a car, always remember that it should have a high resale value. This will help you get as much as possible while selling it off. This highly depends upon the model you are buying and also upon the brand name. Check the check car value of various popular models and then decide for yourself. For example, Maruti Suzuki, Hyundai, Honda, etc., are some of the brands that have great resale value.

Maintain your Car Properly
Maintain your car properly by taking it to regular servicing. Also, pay attention to the way you are driving it. Always remember that the valuation of any used vehicle highly depends upon the way it has been handled and driven. Moreover, the vehicle should be cleaned regularly in a proper manner with car-washing detergents.

Drive Safely
While driving, you should always be aware of the various hazards on road. Stay away from accidents as it could be very dangerous for both you and your car. In case of major accidents, the car goes through major repair work, and this in turn decreases its market value to a great extent.

So, these are some simple steps that you could take to maintain your car in a good manner, so that it has a satisfying market price when you decide to sell it off. The valuation of your car highly depends on how you keep it.

Orange Book Value - India’s First and Only Algorithmic Pricing Engine

If you are planning to invest in used automobile market, but not sure about the price of the vehicle, then get sure. Use Orange Book Value India’s first and only algorithmic pricing engine to measure the fair market value for any used automobile. It is a service by Droom to know the fair market price of a used vehicle before you buy or sell. OBV offers “Har gaadi ka asli daam” for free. 

It is the most comprehensive automobile pricing engine, which is not limited to cars alone, but also covers a wide spectrum of vehicle categories including scooters, motorcycles, bicycles and planes - covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants for last 10-11 years. 

The US patent-certified OBV pricing engine is built on Droom's proprietary computational infrastructure and real-time data science, which analyses empirical evidences to give the final price range of any used vehicle. It gives an independent, unbiased, objective, and a data driven Value of used Car. 

You can download OBV mobile apps for – Android and iOS users, or visit orangebookvalue.com to check the fair price of your vehicle. No more guess work now! Whether you are a buyer or a seller, OBV gives you a fair price report as per your purpose of buying or selling. You can download, print, or email the OBV valuation report with anyone without paying anything for it. 

Used automobile market in India is completely unorganized and full of ambiguities. You just can’t rely on any number pulled from a hat. OBV use data science and complex algorithm to calculate the fair market value of any used vehicle in less than 10 seconds. OBV is designed keeping user convenience as a top priority. 

Consider using Orange Book Value before you buy or sell any vehicle. Also check droom.in to get your next new or used vehicle.

Understanding Market Valuation of Used Vehicles

The process of buying or selling a used car or bike can be quite tricky. For the buyers, especially, in terms of proper valuation of used car and bikes, it becomes very confusing as they are always worried about the right price of the vehicle they are going to buy. In many cases, you might end up buying a second-hand vehicle at a cost that is more than its fair market value at that point of time. Moreover, used car or bike buyers always think about a great value for money product and the best deal they can grab against their money.

Similarly, with the used car or bike sellers, it becomes a tricky task to quote a fair value for their vehicles. Most of the times, when a buyer comes to check a second-hand vehicle, there are cost related contradictions between the seller and the prospective buyer. Even if the deal closes, it happens after a long conversation and price negotiation between the two. This happens because from the seller’s point of view it seems to be a lesser price for the vehicle, but from the buyer’s side, the confusion of paying more than the actual value of the used car or bike remains.

There are various factors that participate in the rate of depreciation of any used vehicle such as make, model, year of manufacture, variant, odometer reading that decides the number of kilometres driven and of course, the overall condition of the car, both mechanically and aesthetically. The age of the car and the number of previous owners also play an important role in the same. Moreover, the segment to which the vehicle belong also holds a very significant spot. Used cars and bikes that belong to a higher segment loses their value at a higher rate than the used cars and bikes in the lower segments. Whether you are a buyer or a seller, to understand all these factors, you need to do a lot of homework and most of us fail to get the fair market value of used cars and bikes even after a long research.

What can we do in such cases? What is the solution for this? Can we determine the actual value of a used car or bike at a particular time through some Used Car Valuation Tool ? Yes, all your questions are going to be answered here. And the name of the solution is Orange Book Value (OBV). It is a valuation tool for used cars, bikes and scooters that helps obtain the accurate market value of a second-hand vehicle. This used vehicle pricing guide suggests the fair value by utilising scientific data and innovative technologies that are totally based on the above mentioned factors that leads to value depreciation.

Orange Book Value by Droom is a boon to both buyers and sellers, as both of them now get to know the current value of a used car or bike. It makes the overall process of buying or selling used cars and bikes much easier. Once the calculation is done, OBV rates a used-vehicle in four categories which are Excellent, Very Good, Good and Fair. The final value of the used car or bike is given through this rating. If a car gets Excellent or Very Good rating that helps it get a better value in the market than the car that gets Good or Fair rating, which could mean that it has problem with some of its parts or has gone through major repairs.