Hello. My name is Joe Summers. Welcome to my website about purchasing a vehicle from new and used auto dealers. When it comes time to buy your next vehicle, it really pays to know what to expect. With clear expectations in mind, you can navigate the buying process with confidence and get a great deal on a clean, functional vehicle. Missteps in the process, however, can leave you with a serious case of buyer’s remorse and a vehicle that just doesn’t live up to your expectations. So, spend your time on my site to learn everything you need to know about purchasing a car from new and used auto dealers.
Factors That Affect The Resale Value Of A Car
Some used cars cost nearly the same as their brand-new counterparts while others are unbelievably cheap. The resale value of a car depends on various factors that you can take advantage of to get an inexpensive car. The following are some of these factors.
Accident History
An accident car loses its value for two main reasons. First, there is always a risk that the repair wasn't done to perfection. Secondly, many people believe that repairing a car does not bring it to its brand-new status even if the repair work is excellently executed.
Maintenance History
Every car requires regular maintenance. Even car manufacturers specify maintenance schedules and activities for their vehicles. The maintenance keeps the car running efficiently and reduces the risk of a sudden malfunction. Thus, it's not surprising that a well-maintained car will fetch more than a poorly maintained car.
Supply And Demand
The supply and demand of a particular make and model also affect its resale value. For example, a car that is widely common may not have as high of a resale value as a comparable car that is relatively scarce would. The rarest cars fetch even higher prices since they may be viewed as collectibles.
Color
Basic colors tend to retain their values better than flashy or bright colors. This is because basic colors tend to attract more demand than flashy colors. The higher demand translates to higher prices. Thus, a white or black car is likely to have a higher resale value than a purple or maroon color.
Mileage
For many people, the mileage is the best indicator of how "used" a car is. The more miles a car has clocked, the higher the risk that many of its parts are worn out. Besides, cars don't last forever, and those with high mileage are seen as near the ends of their useful lives. Thus, a car with 50,000 miles on its odometer is likely to sell at a higher price than a car with 100,000 miles on its odometer.
Condition
Lastly, the physical condition of the car also matters. The tread depth of the tires, scratches and dents on the body, and shine on the upholstery all affect its resale value. Generally, the better a car looks, the more money it will fetch upon resale.
Don't forget to use the above points when negotiating for a used car, such as a preowned truck. For example, you can remark on the high mileage or condition of the car to get the dealership to give you a discount.