Your trusty vehicle may feel like it’s worth hundreds of thousands of rands (with a long history of reliability and many kilometres of memories).
Unfortunately, this is not often the same conclusion that an evaluator will arrive at. A multitude of factors influence your car’s resale value.
Whether you’re considering selling your car or simply curious about its worth, you need to understand the industry standards and what makes Weelee stand out from the rest when it comes to buying used cars.
How Weelee’s unique valuation works
At Weelee, we do things differently. When you request a quick valuation from Weelee, our systems don’t simply automate a ‘book value’ based on the popularity of the model, mileage and age of the car.
The following unique factors will influence the car valuation you receive:
- Real-time dealer demand – A team of dealers will have the opportunity to competitively bid on your car. If it’s in demand, has a reliable service history and in good condition, it will likely be a decent battle. This means a better price and more options for you, unlike traditional car valuation automators.
- Actual auction prices – We don’t lowball our clients with a mingy estimate that isn’t reflective of the used car industry. Our network of 1,000+ dealers ensures you see the highest price possible.
What common factors influence your car’s worth?
- Make & model: Certain brands and models fare better than others in the resale market due to their reputation, popularity and reliability, for example, trusted brands like Toyota and Volkswagen.
- Historical performance: Models that have maintained a good resale value over many years are more likely to retain their worth than newer models that are still trying to establish themselves in the local market. E.g. Toyota Hilux or VW Polo.
- Mileage: This is the biggest player in the car valuation calculation. Low-mileage cars are perceived to have less wear and tear, and can therefore fetch a higher price.
- Age: Depreciation and age often go hand in hand, but this factor varies significantly across different makes and models. The first few years of a car’s life see the highest depreciation rate, while cars in the 8-12 year age range experience a slower decline.
- Physical condition: Scratches, dents, mechanical faults, and interior wear and tear all impact the prices of used cars. Been in a serious accident? This is likely to plummet the vehicle value.
- Service and maintenance: Got a record of service and maintenance? This will help you sell for a more market-related price.
- Supply and demand dynamics: Market demand directly influences vehicle value. If a particular make or model is wanted (for example, bakkies in South Africa), its value is likely to rise, while market saturation of similar cars may decrease the individual car sales prices.
- Emerging trends: Current trends in the automotive industry and society in general also influence the determination of vehicle value. For example, tech advancements such as hybrid or electric vehicles, changes in laws concerning carbon emissions, fuel prices and customer preferences influence a vehicle’s asking price.
Got questions? Don’t stress, we’ve got you covered
Q: Will I be pressured to sell?
A: No. With Weelee, there’s zero pressure. You stay in complete control and only proceed if you’re happy with an offer.
Q: Is my car too old to sell?
A: Not necessarily. Weelee’s innovative connect platform works with a vast dealer network, and many dealers actively buy older, high-mileage, or well-maintained cars.
Q: How long does it take to hear from Weelee after uploading my car’s details?
A: You’ll typically receive feedback within an hour during our business hours (we’re open Monday-Sunday).
Q: Do I pay a fee to get a valuation?
A: No. Your Weelee valuation is completely free and obligation-free.
Q: Can I sell my car if it’s still under finance?
A: Yes. Weelee will help liaise with the bank to cover some or all of the remaining balance, keeping you in the loop with how much is still owed on the vehicle.
How can you receive an accurate car valuation?
With a trusted platform like Weelee, you can:
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- Upload your vehicle’s photos and details in under 2 minutes
- Wait for the offers to start streaming in
- If you decide to sell your vehicle, the winning bidder will come to you to do an on-site assessment of the car.
- If both parties are satisfied, the buyer will initiate an instant EFT transfer of cash directly into your bank account.
(The entire process is user-friendly and hassle-free; your vehicle won’t accumulate excessive kilometres in the selling process.)
Where can you sell your car for the best price?
Obviously, we’re slightly biased and want you to sell your car with us, but how can you know that Weelee will really give you top dollar (or rand, in this case)?
Thousands of positive reviews on Hellopeter, Google and Facebook can’t be wrong.
