What Factors Affect the Value of Your Car?

May 19, 2021

If you have had your car for a while and are ready to sell, then you need to know what will affect the value of your car.

sell your car

Here are the top 4 factors that will determine the value of your car.

Depreciation

A major factor is depreciation. This is the rate that a car will lose value over time. Depreciation rates will differ across car brands. The rate of depreciation is determined by age, brand, appeal, history and so on.

You will then need to take the depreciation for your particular vehicle into consideration when it comes to placing a value on your car.

Market Demand 

If the car, you own is in demand then you can get a competitive price for it or even a higher price in the used car market. Have a look at used car sites, find something similar in terms of age and mileage and get an idea of what your car is worth.

The Condition

The value of your car will be determined by the mileage and the physical condition. Cars with a higher mileage usually sell for a lower price. However, if you have taken care of the vehicle, kept on top of services etc then you could ask for a higher price.

A car that has been poorly maintained and has several condition issues will have a lower resale price.

Ensuring that your car is in good condition and clean will help it to retain its value. Your car will appeal to buyers when it looks good and is mechanically sound.

The Details 

The value of your car will be influenced by its colour, upholstery and general interior trim. Neutral colours generally sell better than vibrant colours.  Also, additional add-ons or customised extras, even though you love them, may harm the value as not everyone is going to love them like you do, especially if they are permanent alterations.

Keeping your car in good condition, keeping on top of services and ensuring that you have done everything you can to keep your car in good order will help with the resale of your vehicle.

Back to Homepage