On What Factors does the Car Resale Value Depend

By | September 10, 2010

Generally, people think the model, mileage, speed and the color for buying a new car. But, one should also beware of the resale value of the car which you will get after selling the car. Although, you might not get the price for which you bought it, but one should be careful in selecting the best car to get the best resale value.

Factors which vary in the resale value are:

  • Mileage of the Car: Lesser the miles traveled per year more will be the cost of the resale. In general, 10,000 to 12,000 miles per year will be a good number. So, if you want to resell the vehicle, then maintain the mileage as less as possible.
  • Condition: Always keep the car in a nice condition. Chipped painting, holes, dents and dings will all effect the resale cost. Better the condition, better will be the price.
  • Options: More options will cost you more i.e., if desired options are more, you will get a nice resale cost.
  • Appearance: Appearance also adds up with the cost. Good appearance will always lead to nice pay.
  • Vehicle History: As all the information regarding the accidents is available on the internet, the buyer will check all the information regarding previous history like collisions, accidents which might have a negative impact on the resale value.
  • Economic factors: Sometimes the economic factors will also influence the cost of the resale value.
  • Local Supply: Sometimes the availability of more number of cars, will also influence the resale cost. So, always sell the used car when limited supply is available which makes the selling procedure easy with more money.
  • Colors: Colors also play a major role in resale cost.
  • Climate and geography: Whenever you buy a car, you should think about which cars are mostly used in your geographical condition and then go for that car, which gives you the more resale cost. Sometimes in some areas, the climatic conditions will also be considered while reselling. Some of the cars will be sold in some particular seasons and some will be sold in some seasons.

These factors are to be kept in mind while you want to resell the used car.