Genuine factors that affect the price of a used car

So, your older vehicle has seen its better days and it’s no longer efficient. Naturally, you would want to replace it with a newer and efficient vehicle. But first, you will have to deal with the tough job of selling the used car.

Most people consider the existing condition as a major factor that affects the resale price of a vehicle. But there are a number of factors that goes into determining the overall worth of a used car. So, if you want to get top cash for your car, it is necessary to take an informed decision.

In this guide, we have explained some important factors that affect the price of a used car.

Car’s exterior and interior condition

When it comes to the factors affecting the value of pre-owned vehicles the condition play a crucial role. If there is any sort of damage on the exterior of used vehicle, it will certainly have an impact on its worth.

Hence, the automobiles that are not well-kept are able to fetch a lower resale price. Make sure to get your car professionally washed and polished. This way you can easily get rid of any rust marks, scratches, dents and other visible damage signs on the exterior. Don’t forget to take off those old bumper stickers. As it can make your vehicle appear unpleasant to your prospective buyers.

Similarly, the interior condition of a vehicle is equally important. If you well-maintained and tidy automobile from inside, it will more likely impress your buyers. At the same time, if it’s interior stinks or appear unpleasant, then you will have a tough time getting a great deal. In order to get a handsome deal it is a good idea to get your car detailed by a pro.

Brand

It is another important factor that can influence the price of an automobile. For instance, the vehicles manufactured by popular brands like Toyota, Hyundai, Mitsubishi, Honda, Holden, Subaru retain better resale value. On the other hand there are some brands whose automobile are known for quickly depreciating as soon as you start driving it.

If you have any vehicle of Mercedes, Lexus, Infiniti, Acura, you can expect to get the best value. As these brands are ranked highest in terms of holding great value, irrespective of the car’s condition. According to experts many reliable brands are recognised for holding 45 to 60% of their value within first 3 years of being used.

Car’s mechanical condition

When your vehicle has a good repair and maintenance record buyers are more likely to pay a higher price. It’s condition working condition will clearly depict that you have taken care of it properly. This will clearly increase the overall price of your pre-owned car.

Aftermarket accessories and performance parts

If your automobile has the latest equipment and performance parts it will increase it’s cost of upkeep. Many car owners like to customize their automobiles using high quality stereos, custom rims, supercharger kits and other accessories. All the reputed auto wreckers sell parts to customise vehicles on affordable prices.

However, this often creates problems at the time of selling it.

As buyers could be worried about its high concerned with high maintenance costs and warranty coverage. Make sure to avoid adding expensive components and accessories in your vehicle that increase its overall maintenance cost.

Mileage

Even if your car is in a mint condition its not enough to get a good resale price for it. It’s because the auto mileage is another crucial factor that most buyers consider while purchasing a vehicle. This means if your used ride have covered fewer miles then you can get higher price for it. For instance, if you are interested to sell a vehicle that have covered over 200,000 miles. You may not get a higher price for it.

Paint Color

Just like the mechanical condition of a car it’s appearance is really important to improve its overall value. If your car body has an eccentric color, it may be hard to get a buyer for it. Sometimes you may not get a sale or wait for a long time. It is because the maintenance and upkeep costs of such vehicles is very high. Make sure to purchase automobiles with classic paint colors like black, silver or white.

Drivetrains and Seasonal Demand

Generally, most auto buyers prefer to vehicles with automatic transmissions. However, some purchasers and dealers also desire to buy manual transmissions. Normally buyers choose vehicles based on their location. There are some cities where it is must to drive a vehicle with all-wheel drive feature. Therefore, seasonal demand also influence the value of used auto. For example, the demand for convertibles is high in summer months whereas winter season is the best to sell 4x4s.

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