When people want to sell their cars, they have the choice of selling it to private buyers or dealers. (We talked about that before) If you choose to work with dealers they usually offer you something they call it “Instant cash offer” or “ Cash for cars”. Contrary to its name, instant offer is not based on instant decision. There is accurate calculation behind it.
Instant cash offer or cash for cars is an offer provided by dealers or platforms showing how much they are willing to pay based on the market price of the cars with the same characteristics of yours such as model, age, milage on it, market demand, etc.
Some of these factors are more important than the others. Here is a list of four main elements of the calculation:
1- Model of the car: People are concerned about the age of their cars for the same reason they are concerned about their own. Younger car is healthier and has less problems. Will come as no surprise for you to see customers pay higher amounts for younger vehicles.
2- The manufacturer: Like any other business the brand is a main factor of evaluating. Some companies are more popular than others because of their products’ quality, design, good after-sales service or fuel efficiency. Also, some specific models of a brand can have a high demand in the market.
3- Condition: When dealers ask about condition of a vehicle they mean if it has any mechanical problems or has been damaged by collision. Major accidents or serious mechanical problems can reduce the amount of an instant cash offer dramatically.
4- Supply and demand: If customers are enthusiastic about a specific car or model there will be a jump in market value. For example, these days more people are willing to buy hybrid or electric cars. Due to that the market value of these type of cars are higher than before.
You must remember that because of the changeable nature of the market the instant cash offer (or cash for cars) changes easily and constantly. So, a dealer’s offer is usually only valid for the same day.
Are you looking for a cash for cars offer? Let us give you a hassle-free appraisal. We can match or beat most dealer offers. Our appraisal process takes less than an hour and we give you cash offer same day! Schedule an appointment today! Book AppointmentShare