Factors That Affect The Used Car Worth

Are you about to sell your old car? Then you are probably wondering how much you can get from it right now. You can’t ask for an arbitrary number as that would only raise eyebrows. If you want to get flooded with inquiries from interested buyers, then study the market and state a competitive price. Remember, your car is not the only option out there. If you put together a good sales page and a reasonable price, then yours might generate more buzz that the others. Below are the basic traits that affect used car worth:

Model

What is the make and model? Some car manufacturers are known for their luxury cars so the brand alone carries weight. Popular names will also attract people for different reasons. Some are synonymous with reliability, safety, or innovation. Others might have a more patriotic connotation or a rugged appeal. Of course, you need to consider the model as well. SUVs are more expensive than sedans, and so on.

Age

The fact is that most cars depreciate with time. Each passing year, your vehicle will be worth less because new models with better designs and technologies are more attractive to buyers. Wear and tear also comes with age. It is inevitable for used car worth to be in less than perfect condition. Of course, this can be overcome with regular maintenance and careful driving.

Mileage

How many miles of roads has the car seen? Some cars might be old but they haven’t been driven much because they were only used for sending the children to school and back. Others might have much higher mileage because they were used extensively for extended road trips and vacations. The higher the mileage, the greater the likelihood that major parts will need replacement or repairs in the horizon. The cost for these is factored into the lower price for the car.

Condition

Sometimes the condition isn’t just about age or mileage. For example, a relatively new car might have been to an accident which damaged the frame and other parts. Or it could have been submerged in a flash flood. Maybe there are mechanical issues that threaten the safety of the occupants. There could be interior parts that have been rendered inoperable. The leather seats may require re-upholstery. The tires may be thinning out and needing replacements. However, there could also be upsides such as aftermarket modifications such as adding carbon fiber parts or upgrading the entertainment system that could impress the buyers.