How does a car valuation calculator work?
What are the problems of using a car valuation calculator?
The main problem is that the value it spits out doesn't take into consideration things like wear and tear. This can make quotes wildly inaccurate for damaged vehicles. Some newer calculators have an extra option for whether the car is a good runner or not, which will help get a more accurate final figure.
As mentioned above, some websites use these valuation tools to draw you in to using their service. So if they are buying used cars then they may show you a much higher figure than they are realistically going to pay. Just keep this in mind so you don't built up unrealistic expectations.
Should I use these online pricing tools?
Absolutely, yes. Online car valuation calculators are here to make life easier. They can help facilitate a quick sale and save you shopping around or buying a pricing guide book. As always when using a service online which you haven't tried before, be careful. Look out for anything which lights alarm bells in your mind. You could try typing the name of the website and "review" into Google to check for consumer feedback.
If you do this then you are likely to find a great service who will buy your old car. The price is unlikely to be as good as a private sale. But you will probably get a fast sale with minimum hassle.