Market Value Of The Car: What It Is And How To Calculate It

Find out with us what it is and how its market value can affect your car.Read our post!
The market value of a car is one of the factors that not all drivers know, but that can affect them directly.It is the reference value of a vehicle at a given time and is the figure that insurance companies use to compensate their clients in the event of an accident, theft or fire.The market value of the car is a figure that depends only on two factors: the model and the Age
What Is The Market Value Of The Car?
In Most Insurance Company Policies, One Term Is Repeated:. Market Value Of The Car Although It Is Often Found In The Fine Print Of Contracts That Not All Drivers Read In Depth, It Is One of the most important elements of any insurance as it refers to the value of the insured vehicle from auto for trade.The market value of the car will be the price of the vehicle at the time before suffering a loss, be it an accident, fire or theft And that amount depends on two factors: the exact model of the car and its age.

Themarket value of a car is established by law and normally applies from the two years old of the vehicle.During those first two years, insurers have to pay the full price of the car when it was purchased.However, after two years, you have to go to official tables that help to calculate the price of the vehicle, always bearing in mind that the car is considered new on the date of its first registration.To
Calculate the market value of a car its condition is not taken into account.That is to say, two identical cars that would have been registered on the same day will have the same sales value, even though one had few kilometers, was in perfect condition and had been cared for very well and the other had many kilometers, scratches in the paint or some breakdown.The market value of both will be the same.

Questions and Answers About The Market Value Of The Car
One of the recurring questions about the market value of the car is when this value applies.It happens in several cases: always in the event of theft and fire and, in addition, when the cost of repairing a claim is greater than the market value.of the vehicle.The only exception is during the first two years of the car's life: in the event of a claim during that period of time, the insurer will have to pay the full value of the 

car.Also, there are some sursurers that allow you to increase the market value of the car if it can be shown that it had some extras incorporated that increased the price of the vehicle.As in the previous case, it is not offered in all policies and you have to read the contracts to see if we are entitled to it.

I have almost 9 years of experience as a content writer at torsejackets.com, I also engage in sales prospecting for the company, conducting market research within specific geographic areas and reaching out to potential clients.