Factors that can influence your car’s resale value

 

So you have decided it is time to sell your car. Well, before making any sale ad available on the Internet, it is recommended you establish the value of your car first. In order to find out the best price you can get on your vehicle, it is recommended you go to specialists. Keep in mind that some of them provide even free car valuation on the condition that you sell your vehicle to them. Furthermore, you should know that the resale value of your car may be influenced by a series of factors and some of them are mentioned below.

Factors that can influence your car s resale value

The brand of your vehicle

Obviously one of the most influential factors in determining the price of your car is its brand. Regardless of the condition of the vehicle, there are some brands of cars that depreciate in value extremely fast as soon as they are driven off the lot, so if your vehicle is one of them, you should not expect get the same amount of money as you paid when you first bought it.

Exterior & interior condition

The next thing potential buyers will check if they are interested in your vehicle is its condition. They will take a look at the way the car looks like in the inside and on the exterior. It is a no-brainer that any visible damage can significantly affect the value of your car. It is best you spend some time taking care of the vehicle and fixing the parts that are not working accordingly before you post sale ads on the Internet.

Aftermarket car accessories and performance parts

You may be one of those car owners who took great care of their vehicles and constantly upgraded it with the latest equipment. Custom-made rims, supercharger kits or various other types of car accessories can actually reduce the value of your car. Some buyers may be concerned regarding the high upkeep costs along with warranty coverage. It is best you steer clear of any such add-ons and to keep everything as simple as possible.

Mileage

The amount of miles the user drove the car is also a powerful and influential facet in establishing the right value of the vehicle. In most cases, lower mileage results into higher resale values, which can only be a great thing for every car owner. Do not expect to receive high price on your car if mileage exceeds 200,000 miles for instance.

Seasonal demand

The market is in constant change and the demands are not the same from one day to another and this also counts for selling cars. There are regions where all-wheel drive cars sell better than any other type on the market and there are regions where the demand for urban cars is extremely high. Also, if you want to sell your 4×4 car, it is best if you wait until in the winter, whereas the summer is more appropriate for selling convertible cars.

All things considered, these are some of the most important factors that can affect the resale value of your car.