If you are planning to buy a used car or sell your current car, you should be aware of the factors that affect its price. This can help you earn the best deal. The valuation of used cars in Mumbai, Chennai, Delhi or anywhere across the country remains more or less the same with the same factors affecting the price. Read on to find out what these factors are!
Exterior and Interior Condition
This is a no-brainer, but still it’s worth mentioning. Any damage to the interior or exterior of the car has a negative impact on its value. While the exterior should be free from any dent, scratch or body damage, the interior should be well-kept and clean to get the best price. If you are planning to sell your car, get it professionally washed and repaired (in case of any dents or damages) before getting it evaluated.
This again is a very important aspect that buyers would be looking for. It’s important to maintain the car in good running condition by regular servicing. Save a record of routine and regular maintenance or repairs. This can greatly increase the value of your used car because buyers can see that they are considering a car that has been properly cared for.
Fewer miles on the speedometer mean higher resale value. In most cases, even though the car is in its best condition, it might not get the value it deserves if the reading on the speedometer indicates 200,000+ kilometres. So, keep that in mind when you plan a long road trip.
Aftermarket Accessories and Performance Parts
If you are having the notion that suspension upgrade or supercharger kit will increase the value of your car, you are wrong. Prospective used car buyers generally have more concerns about premature wear and tear in addition to the higher maintenance costs. So, if you are planning to sell your car, stay away from add-ons (like stereo speakers, rear spoilers or large sized wheels), particularly those that modify the safety equipment or power-train performance.
Though there are many factors that affect a used car’s value, it’s the car’s condition and mileage that are the most crucial of all. Factors like the used car brand, model, make and year also have a great impact on its value.