The real price range is determined not only by the brand or year of manufacture, but also by mileage, condition, history, equipment, and how quickly one wants to sell. The head of the used car sales company “Longo LT”, Paulius Valiukėnas, says that a car does not have one absolutely exact market price.
“Usually, it is possible to determine a real price range, which depends on how quickly the person wants to sell the car. If the owner is not in a hurry, they can try to aim for a higher price, but to sell faster, the valuation must be more realistic,” says P. Valiukėnas.
Brand and year alone are not enough
According to him, the first step should be to search for similar cars on classifieds portals, but comparing only the brand, model, and year of manufacture is not enough. The value is affected by the model generation, engine, gearbox, body type, equipment, mileage, service history, and overall condition.
To get a more accurate picture, one should review not just a few but at least a dozen similar offers, discard obviously overpriced and suspiciously cheap options. It is also important to assess how long the car has been on sale – an expensive ad hanging for a long time does not necessarily reflect the market price.
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“The most common mistake is to focus on the most expensive ads. The owner naturally tends to choose the price that confirms their desired expectation but does not check how long the car has been on sale. Moreover, the ad price is not the same as the final transaction price,” notes the expert.
The buyer quickly notices flaws
The value of the car is determined by things the owner may no longer notice. An unmaintained interior, body damage, corrosion, warning lights on, poorly functioning automatic transmission, air conditioning, or electronic systems become arguments for lowering the price in the buyer’s eyes.
“Smaller details also matter: bad tires, one key, no technical inspection done, or an upcoming periodic service. Mileage is no less important.
A car with higher but clear and verified mileage is often valued better than a car with lower but questionable mileage. The owner often gets used to the car’s flaws and no longer notices them, but the buyer sees everything within the first few minutes,” explains P. Valiukėnas.
Repairs done do not always increase the price
Another mistake is expecting that all investments in the car will be returned through the sale price. New tires, a replaced clutch, or timing belt may seem to the buyer as proof of proper maintenance but not necessarily as a reason to pay as much as the repair cost.
“People tend to overestimate their cars. This is natural because the owner remembers how much they paid for the car, how much they invested in repairs, tires, or additional equipment. However, a newly replaced clutch or timing belt usually does not increase the car’s value by the amount of the repair bill. For the buyer, such work is usually not an extra advantage but part of normal condition,” says P. Valiukėnas.
According to him, in practice, the owner’s expectation often differs from the real market value by about 5–15%. When the car is compared with much better condition or professionally prepared cars, the difference can exceed 20%.
When is it worth selling by yourself?
Self-selling can be justified when the car is in demand, in good condition, has a clear history, and the owner is not in a hurry. However, the entire process must be considered – preparing the car, photographing, advertising, calls, inspections, negotiations, and paperwork.
“Theoretically, selling a car independently can get a higher price, but one should calculate not only the final sale amount. Advertising costs, car preparation, possible repairs, time spent, and the car’s value decreasing over several months also cost,” notes P. Valiukėnas.
According to him, it is rational to turn to a professional buyer when speed, clarity, and safety are important. This is relevant when buying another car, not wanting to invest in repairing the old one, having no time to communicate with potential buyers, or not wanting to let many strangers into the car.
“A professional buyer’s offer is usually lower than the possible retail sale price because they take on the risks of preparing, storing, warranty obligations, and resale. Therefore, one should compare not the buyer’s offer with the highest price seen in the ad but with the real amount that would remain after selling the car independently and considering all expenses and time spent,” explains the head of “Longo LT”.
Why can the final price change?
The first valuation is usually done remotely – based on the car’s registration number or VIN code, information provided by the owner, photos, mileage, equipment, and stated technical condition. At this stage, the demand for the specific model, prices of similar cars on the market are assessed, and a preliminary offer is made.
However, the final price is revealed only after inspecting the car in person. Then its history, documents, body and interior condition are checked, a technical inspection and test drive are performed. The engine, gearbox, suspension, brakes, electronics operation, paint layer, tires, number of keys, and possible preparation costs are evaluated.
“The final offer usually differs from the preliminary one when previously unreported defects, signs of a previous accident, history or mileage discrepancies, poor tire condition, or upcoming expensive repairs are found during the inspection. The offer value can also increase if the car’s condition is better than it appeared,” says P. Valiukėnas.
