Benefits Of Checking Used Car Valuation

Buying a used car, which is in well-maintained condition, is always a smart decision. It proves to be a better Used Car Valuation for money product than the brand-new cars as the money spent on a new car would go in vain when the car will lose its value as soon as it is driven out of the showroom. Unlike the new cars, pre-owned cars serve a better value for money as their price is already depreciated and the further fall in value will not be like it as at the first time.
So, buying a second-hand car is always a safe deal if you can find a model with minimum flaws and which is in a very good condition, both mechanically and aesthetically. However, determining the correct value of a used vehicle sometimes becomes a little tricky for most of us. However, it is very important to know the fair price of a used vehicle for buyers as well as sellers. While buying, or selling a used vehicle, the most unwanted task becomes the negotiation part between the buyer and seller.
The buyer generally tries to bring down the price to as low as he/she can, and still thinks that he/she has bought the vehicle at a higher price. On the other hand, the seller is always confused about the right price to be put before the buyer so that it would not be a lose making deal for him/her. So, to come to a common conclusion, it is very important to have a rough knowledge of the fair price of the used car.
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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.
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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.

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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.

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