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.
