How To Find True Market Value Of A Used Car In Sri Lanka

[Uditha88]

Mates,

How to find true market value of a used car in Sri Lanka.

As you all know, 2nd hand car market in Sri Lanka is highly out-of-standards.

Even prices in websites like autolanka.com rules the entire car market.

So is there any formula kinda thing that we can come up so that we can get a rough idea of the 2nd hand market value of a particular car model/ made based on YOM etc.

How helpful it would be having such an organization?

Is this happening in other countries?

Expecting your valuable ideas......

[Pericles]

The formula is - A car is worth whatever a buyer is willing to pay for it.

Its called Market Economics.

[Crosswind]

What a stupid idea. The whole concept of 'market price' is created by car sellers to jack up their profits. Like peri said, in reality the price oc an individual car is what the buyer and seller agrees upon.

If u really want to get the so-called 'market value', get a valuation from de silva or a similar valuer. That's the closest u can get to it. Even that is not accurate.

[VVTi]

As if people give a toss about the De Silva valuation... How often do you see ads that says, de Silva valuation, 3.0 million, expecting 3.5 million...

[Crishan]

As if people give a toss about the De Silva valuation... How often do you see ads that says, de Silva valuation, 3.0 million, expecting 3.5 million...

Well that we have to wait for a very looong time for that day!

Any way for valuations, isn't Automobile Association better than De Silva?

[Blitz]

There is a formula.. its called "anjanan balanawa" in sinhala... :lol: ..

[Clark's son]

There can not be any hard and fast rules about an exact value for a vehicle brand make and model.

The most important thing is the condition.

Sometimes there can be a huge difference between a completely hacked car and a mint condition car, As i don't have much time to hang around garages i chose the better one. And that would be the best choice if you are not looking for a restore project.

Our policy when buying 2nd hand is - we go car hunting, chose the car which is of best condition and highest trim in the model available for sale at that time, and try to buy it even if it costs upto about 20% more than a basic hacked car.

When i mean condition considering expensive repairs the final cost would be cheaper.

And because i hate to see a better trimed vehicle of the same model and think that my one is not that good.