Why Getting Your Car Appraised Is A Good Idea

Why Getting Your Car Appraised Is A Good Idea

Getting your car appraised should be the first step when selling or trading in your vehicle. Thankfully, at Genesis of Springfield, Virginia, this process is simple, painless, and easy. Below, we’ll discuss why getting your car appraised is a good idea and how to do so at our Genesis of Springfield location!

*Do note that you can Sell or Trade your car with us! Click on this link to get your car quickly appraised online!*

What is Vehicle Appraisal anyways?

For many new car owners, financial terms such as appraisal and valuation may be confusing. An appraisal is simply the act of assessing the condition of a vehicle and assigning a monetary value to it. Do note that vehicle year, condition, make, and model all play a vital role in your final appraisal value. For example, a cheap commuter vehicle may depreciate slower than a luxury-performance vehicle, and vice versa. Many factors play a role, emphasizing the importance of vehicle appraisal.

Why Should You Get Your Car Appraised?

Protect Yourself Against Lowballers
There are plenty of people, especially in private transactions (looking at you, Facebook marketplace) that will offer you a monetary amount that’s significantly less than what your car is actually worth. Get your car appraised so that you know the true value of your car and to better negotiate prices with your potential buyer.

Getting A Car For The Best Market Price
If a used car grabs your interest, it might be a good idea to have that car appraised before you pull the trigger. Doing so will let you know if the purchase price is worth it, and also gives you an idea on what a “good” price is for your new vehicle.

Insurance Purposes 
An appraisal is a smart idea when it comes to insurance coverage. Whether your car is stolen or damaged, getting your car appraised beforehand can serve as evidence of its value when going through the insurance claim process.

Aftermarket Parts and Accessories
Contrary to popular belief, adding aftermarket parts to your vehicle does not make it more valuable than its stock counterpart. Sometimes, aftermarket modifications and parts can raise the value, but nine times out of ten will lower your car’s value. Getting your car appraised can let you know what your modded vehicle is worth. If your modifications are simple bolt-ons and are easily reversible, consider removing these modifications.

Financing or Refinancing a Car
If you’re considering a loan or refinancing your car, getting an appraisal will help establish your car’s value as collateral. Doing so will affect your loan amount, interest rates, and more.

Get Your Car Appraised With Us!

Appraising your car with us is a simple and super quick process. Click on this link and know your car’s worth in less than 3 minutes!