subject: How To Assess Condition And Value Of A Used Car [print this page] In the absence of a reliable valuation medium like Kelly Blue Book, most Pakistanis find it difficult to correctly assess the value of a used car.
AutosPak is currently working on a formula to enable its clients to assess their car value while selling, buying or trading. There are a number of factors which are relevant to Pakistan.
Road conditions in the country are not uniform.
A car used in Lahore/Islamabad or on Motorway is different than the dusty roads in the smaller cities of Punjab or hilly terrain of NWFP, Baluchistan or desert of Cholistan. Cars in the Coastal Zone like Karachi are mostly rusty. Unlike developed countries Pakistani cars are used on variety of roads and one has to be sure about the history of car usage.
Ownership and status of the owner is another important factor. Cars owned by Armed Forces Officers, doctors, bankers, bureaucrats are well maintained and sparingly used. Those owned by agriculturists, businessmen are not usually well maintained. Car ownership history can be verified from the Provincial governments registration Authorities websites.
Number of owners is also a major factor. Registration book in its original form and Registration file is also important. A car with Duplicate Registration (Title) documents will not sell.
A buyer must see the car in bright sun light. A repainted car will be hard to sell. If it is repainted, the buyer must open the hood to look for evidence of accident. In Pakistani market a car involved in an accident doesn't sell. Body condition is assessed from the touching of paint on the body. Repainting of bumpers are not included in the painting of body.
Cars maintenance history has lately assumed importance. A car which is maintained by authorized dealers of the manufacturer has greater value than the one maintained by other workshops.
Buyers prefer direct purchase from owner. Cars sold or traded byAuto Dealers are not as popular as those advertised by individuals. Auto Dealers some times advertise cars as individual sellers.
Having considered the above factors, a buyer then looks into the mileage of the car, tires, battery, mechanical fitness of the car. This should be done by a reliable mechanic.
In Pakistan one can never be sure about the efficacy of the odometer. Tires will therefore indicate the mileage.
Extras options will certainly increase the price.
A seller must get a delivery note signed with the buyer before handing over the possession of the car. The buyer may not transfer the car in his/her name. This document which can be written on a stamp paper or simple paper will be a proof in the hands of seller should the sold car is involved in accident, theft or terrorism.
Bank financed vehicles should not be as popular as fully owned vehicles. Vehicles which have remained under insurance are more popular
