Factors That Matter When Determining Your Car’s Value

First of all, there are some key areas that are checked when car quotes and estimated figures are given. There are four main things that are usually considered when determining a vehicle’s price – modifications, mileage, maintenance, and condition of the car.

 

Modifications

Credit: shoppmlit.com

Who doesn’t wish for a higher resale value for their car? If your answer is a resounding yes, then you should probably think twice between planning your mods. Is there a difference between a tuned and modified vehicle? We understand that not all vehicles that came stock have great speakers, or cool tail lamps. But do note that when it comes to selling your vehicle, it will take time for the mechanic to reinstall the stock parts that were replaced. This incurs additional time and money that could not be in your favour.

 

The modern day electrical configurations are built-up faster, but certainly not the most reliable.  Credit: Fountain Gate Auto Electrics

Presently, the electrical and electronic modifications to your vehicle may include alarms, sounds systems, lighting systems and additional gadgetry you could think of. The reason that mods are not recommended is because of the chances of something going marginally wrong. This is as simple as voiding the warranty of your vehicle as the modifications put in replaces the stock parts as intended by the manufacturer. Of course it may improve the performance and outlook of your vehicle, but that also means that there could be a chance that these parts may cause other parts to fail. Such examples include installing brighter head and tail lamp bulbs that could melt or burn the plastic housings of the unit. Sound familiar?

 

Mileage

Why does mileage matter in the used car market? When a car hits a certain amount of distance travelled, it needs to have its regular service and maintenance. Although it might seem that a car of lower mileage is the holy grail of ‘newer and better upkept’ vehicles, it does not apply to cars that sit idle for long periods of time. A mechanical and electrical product needs to be used from time to time for it to be working optimally.

 

A standard 1993 Volvo 240 Wagon.          Credit: bringatrailer.com

There is a myth that lower clocked vehicles are in a better condition, and it mostly rings true. This is where a proper maintenance record of your vehicle’s service will ensure a higher resale value. But do be wary of individuals that attempt to “renew” their vehicle’s odometre by turning them backwards to make it seem their vehicle is evidently newer. Why is this done? Because there is a difference between a car that has done 50,000 km and one that has gone 100,000 km. Buying any used car has an element of risk because ‘the more mileage the a car has clocked, the more likely there is a part about to go.’ We recommend getting a trusted mechanic with experience when it comes to buying a used vehicle.

 

The Condition of the Interior and Exterior

A picture of a car from the scrapyard. I think it serves to say your vehicle shouldn’t look like this.

A cracked or broken windscreen that will need a replacement.

If you take a step back and compare the condition of your car when you first bought it, there is certainly a difference. Parts that have been in contact with your hands, the air and the weather contribute to the age as a whole. However, with enough care and concern, wiping down parts on a frequent basis, can preserve the clean and new look over time. We believe in the motto that “if you take care of your car, your car will take care of you.”

 

Maintenance Records

Cars are never easy to maintain. It is advisable to keep your maintenance records and papers throughout the lifetime of the vehicle. These records help you to prove that it has been serviced according to the schedules required; ensuring its good upkeep.

 

Credit: Wikiphoto

 According to wikiHow, there are easy steps of maintaining your vehicle as well. The term ‘T.O.W.B.I.F’, which encapsulates tyres, oil, windows, brakes, interior and fluids. Albeit we are not all car experts, but here is a simple video to guide you about basic car caring tips as well.

 

 Here’s a video from Car Throttle about the 6 Things Even The Laziest Car Owners Should Check

 

Don’t know how to sell your car? It’s easier than you think! Click here for a guide!

 

Looking to sell your car hassle-free? Carsome could perhaps assist you to sell fast, fair and free, the 21st century way.