How Much Is My Car Worth?

Value my car

Wondering how much your car is worth in Ireland? When selling a car, many owners determine the sale price of the vehicle based on the prices of similar cars in the market. Similarly, when car buyers are looking to purchase a car, they mistakenly only take the sale price of the car into consideration when comparing different cars having the same model, make, and year of manufacture — this, however, is a mistake and can cost you a lot of money.

Keep in mind that no two used cars are the same. While they may not look very different, how much your car is worth will depend on the way it was maintained, the odometer reading, the number of owners it has had, etc., which can cause a significant difference in the valuation. That’s why it’s vital for both used car sellers and buyers to know the correct valuation of a car before they begin negotiating the price. Although there are various factors that you can take into consideration to arrive at the valuation of a car, the best, and most accurate, way to do this is by using the iCAP valuation calculator on MyVehicle.ie. Keep in mind that this valuation system is also used by auto insurance companies and vehicle assessors, so you can rest assured that you will be in the know.

Why Should I Get a Car Valuation?

If you are looking up how much your car is worth in Ireland, you likely know that it’s important to know the value of your car because it will help you negotiate a better price when you are buying a used car or selling your present car. Also, your auto insurance company is likely to ask you for the value of your car in order for them to insure it adequately. Given this, it is important that you take the time to assess the value of your vehicle.

Fortunately, there are a few different ways you can check how much your car is worth. The most accurate of these is MyVehicle.ie’s iCAP (Ireland Current Automotive Price) calculator, given that it is what all insurance companies and automotive professionals use. Another way to determine the value of your vehicle is by visiting your local car dealer. Make sure that you speak to someone who is not only good at vehicle servicing and maintenance but is also on top of all the current market rates for different models and makes of vehicles. And, ensure that you drive your vehicle to the dealership so the auto dealer can check out the car and give you a fair valuation. Keep in mind that some dealers may try to undervalue your car and convince you that it is the best price you’ll receive for the vehicle, especially if they believe that you are likely to sell it to them. That’s why it’s a good idea to use an online calculator to check your car’s valuation.

Car Valuation for Used vs New Cars

The value of a new car is, of course, determined by the manufacturer, based on what they think is fair for a consumer to pay for the vehicle. For instance, when a brand releases a luxury car, it will be valued higher than a mid-range car from the same brand. This may be due to the quality of parts used, the finish of the vehicle, the specifications and amenities that the vehicle comes with, the R&D and marketing costs that the company has had to incur, and the cost of testing and quality control, among several other things. There is no way you can bring down the value of a new car. However, if the car has been in the dealership’s lot for a couple of years and new models from the same brand have been released, you may be able to score a lower price from the dealer.

How much a used car is worth can vary. If you’ve been shopping for a used car, you may have already realized that even two cars with the same features and specifications can differ in price (sometimes substantially). Some of the factors that can affect this cost include:

Mileage: The higher the odometer reading, the lesser you can expect the value to be. On average, the mileage of a car per year comes up to around 20,000 km. This essentially means if you are purchasing a car that is 5 years old, it would have around 100,000 km on the odometer. If it is anything more than this figure, it’s likely the car has been driven around a lot, due to which it will fetch a lower price.
Add-ons: If the car you are looking at buying has been fitted with add-ons like leather seats, a sound system, etc., it will likely have a higher price tag than a similar car with none of those features. In this case, you are getting what you are paying for.
Condition of the car: The condition of the car is also important. A car that has only been driven for 8,000 km but is in extremely poor condition may be valued lower than a car that’s been driven for 14,000 km but is very well maintained.
No NCT or tax paid: If your vehicle has not cleared the National Car Test (NCT) of Ireland or if you haven’t paid the taxes on the vehicle, the value of your car will likely come down.

Tips to Increase the Value of Your Car

Now that you know how much your car is worth in Ireland, here are a few things you can do to maintain the value of your car:

Take your car to an authorized service centre for maintenance checks regularly.
Park in a closed garage if you can. Avoid leaving it out in the rain, snow, or sun for extended periods of time.
Be mindful of the odometer reading. If friends or relatives have older cars, check if you can drive with them (especially if it is long-distance).
Wash and wax your car often — at least twice a month.
Avoid eating, drinking, or just being messy inside your car. Remember that, over time, keeping the inside of your car clean will be a hassle.

Car Valuation Services Provided by MyVehicle

Fortunately, you don’t have to rely on guesswork or the word of a dealership owner to know the value of a car. Instead, all you need to do is use the iCAP (Ireland’s Current Automotive Price) calculator. MyVehicle’s car valuation system is one of the most popular and trusted tools to determine the value of used cars. The best part is that this calculator is used by numerous finance institutions, insurance companies, and automotive professions, so you can be sure that you’re receiving the right valuation. All you need to do is provide your registration number and odometer reading (the latter being optional) on MyVehicle.ie to know the true value of a car.

The report you receive will include a complete vehicle identity check, the current valuation of your car, the fair trade-in price, the number of vehicles used in the valuation process, and the current price of a new vehicle of the same make and model. So whether you want to know the current value of your car or how much is your car’s worth in trade-in value, MyVehicle.ie’s report is all you need. As you can see, the details you’ll receive from using the iCAP calculator are comprehensive and will help you negotiate the best price for your car.

FAQs

How can I get a car valuation in Ireland?

The best way to get a car valuation of your vehicle is by using the iCAP calculator on MyVehicle.ie. The report you receive once you use the calculator will tell you the fair and true value of your car and the pre-accident valuation, among other things.

Is it worth paying for a car valuation?

Yes, it is. How can you tell what your car is worth? There is really no reliable way. Paying for a car valuation ensures that you are receiving the exact fair value of the car, helping you negotiate a better price.

How does car value affect insurance?

The value of your car determines the amount you will be insured for. If you undervalue your vehicle, you may lose money if you ever raise a claim, and if you overvalue your vehicle, you will end up paying a higher premium.

How much does low mileage add to car value?

Low mileage indicates that the car has not been driven around too much, which, in turn, means the car is likely to be in a better condition than one that has been extensively driven. This adds to the vehicle’s value.

On what basis do cars are evaluated in Ireland?

Cars are valued based on whether the NCT is done and taxes are paid, how well the car has been maintained, how old the car is, what the make and model of the vehicle are, and how many owners the car has had, among other things.

Author

Justin Kavanagh
Justin Kavanagh is a recognised leader in automotive intelligence and vehicle data supply to the entire motor industry. He has almost 20 years experience in building systems from the ground up. As the Managing Director of Vehicle Management System, he understands the need and importance of trustworthy and reliable vehicle history and advice to both the trade and the public.
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Car Valuation in Ireland