You need to know the correct valuation of the vehicle while buying or selling the used car. There are several factors that decides the final value of the car. However, the valuation process for every vehicle is almost the same. Here are some listed factors which you need to take care of while selling or buying used car.
Mileage and condition
The most important feature in terms of resale is mileage of the car. Greater the mileage, more car has been used, therefore more wear and tear. A lower reading on the odometer will always ask for higher price.
Kilometers
The more numbers of kilometers on the odometer, the lesser valuation will be considered. Number of kilometers will reflect the amount of usage and higher wear and tear.
Age
The older the car, the lowest the price. The reason is very simple.
Service History
Vehicle’s service history reflects how exactly the car has been maintained during its lifecycle. It will help you to determine to the better value of a car.
Accident Report
Check if the car has any accidental history as it attracts a lesser value. If there’s any cosmetic damages to external body parts, the used car value might not get much affected. If there’s any mechanical or structural damages, it might affect drastically.
Appearance
Appearance matters for pre-owned cars, like everything else. A car with fewer scratches, no dents, rust damages will see a better price.
Ownership
A first resale will obviously have a fair price as compared to second or third vehicle. Owners may ask for a lower price as it is already handled by many owners.