Common reasons that affect the price of a used car

If your current vehicle has been in your ownership for a quite a long time now, it might have got a very high mileage on it. And, you might be probably looking to upgrade it. But, the first thing that will come to your mind when selling your used car is its resale price.  

There are a number of factors that can affect the price of a used car. So, it is important to consider the resale value of your vehicle when it comes to selling it. If you want to get the maximum possible price for your used car, you will need to stay informed and be prepared. 

Here is a list of some genuine factors that significantly affect the resale price of an automobile.

Brand 

No matter what is the condition or quality of your vehicle, its brand can significantly affect its resale price. Some brands are recognized to manufacture reliable vehicles that hold good resale value in comparison to other brands. Subaru, Toyota, Hyundai, Honda is some of the best rated brands that rank highest in the automotive industry for retaining good resale value. Whereas in luxury brands Acura, Mercedes, Lexus, Audi and Infiniti rank at the top for holding best resale value. Basically, these brands can hold about 45 to 60% of their price during the first three years after purchase, in contrast to other brands which retain only 35% of the value.

Mileage 

It is obvious that if your vehicle have covered fewer miles you can certainly expect to get a higher resale price for it. However, if your used automobile is in a perfect condition, but you have more than 200,000 miles on it, don't be surprised to get a very few interested buyers or low cash offers for it.

Exterior Condition 

There is no doubt that the appearance of your vehicle plays a crucial role in deciding its worth. Typically, if any damage is caused to the exterior of your car, it will slightly decrease its overall worth. Thus, it is always wise to get an automobile washed and waxed by professionals and get the dings and dents repaired in order to enhance its value.

You can even get a paint correction job done if the exterior condition of your vehicle is poor. And, don’t forget to take off the old bumper stickers. 

Interior Condition

The interior condition of every type of automobile obviously plays a significant role in deciding its price. So, if your vehicle is not well cleaned from inside, you will have a difficult time in finding a buyer who is willing to pay a decent cash for it.  Make sure to get your vehicle’s interior detailed by a professional service and also replace the old or worn-out rubber floor mats before putting up your used car for sale. 

Parts and Aftermarket Accessories 

When you sell your used vehicle, it is important to check that it is equipped with latest and quality parts and aftermarket accessories. Accessories like high quality stereos, supercharger kits, custom rims, etc. can cost a fairly good amount of money. Used car buyers always consider the upkeep costs and warranty coverage when buying a vehicle. If you live anywhere in NSW then getting a free quote from the Sydney’s cash for car companies is a brilliant idea.

Therefore, it is important to take a look at the add-ons while selling your car, particularly the safety equipment’s and parts that charge powertrain.

Mechanical Condition 

Make sure to get your automobile serviced on a regular basis in order to keep it in a good running condition. It is also smart to preserve all the service receipts and maintenance records so you can show them to the prospective buyers at the time of sale. This will get you a good amount of cash for it as buyers are always ready to pay cash for vehicles that have been looked after properly and is in a good mechanical condition.

Paint Color

The condition of an automobile is a very crucial factor that helps in deciding its worth. The same can be said for the paint color of its exterior. If your vehicle’s body has eccentric colors that need extra costs for upkeep, you will find it troublesome to get a decent buyer for it. Experts recommend buyers to opt for automobiles with classic colors like silver, white or black.

Seasonal demand & Drivetrains 

Usually, automatic transmissions are more preferred by most of the used car buyers while some of the auto markets also demand vehicles with manual transmissions. However, it depends on the demand of prospective buyers in your area. For example, in some regions there is great demand for all-wheel drive vehicles. 

In addition, seasonal demand also have a great impact on the value of a used vehicle. For example, summer season is the best time for selling convertibles and winters for 4WDs.