6 things that determine car resale value
The more careful you are about your possessions, the more their value goes up, despite years of use. The same is true about your car. It loves you back for the love and care you showered upon it. Your car is not just an engine that makes your life easier
There are a lot you might be thinking of getting a new car or upgrading to a new one. Now while you are upgrading you would want your old vehicle to be sold at a higher price as much as possible, wouldn’t you? Now that is not the sole reason but one of those important reasons why you’d want to keep four-wheeler in a good condition. It is never easy to say good bye to a car that you’ve taken care of for such a long time. The emotional bond that gets tied to it is just priceless. You could be selling with a heavy heart or with a smile on your face. Either ways you would want a good price for your vehicle to get that heavy heart light or to make the smile even wider. Now what could be the factors that would affect the resale value of your vehicle? Here are some points that could help you know what determines your car resale value as told by Pursottam Shrestha, owner of Dream Motors.
The more difficult it is to get the spare parts for your vehicle, the faster its value depreciates. One can never predict what parts may be needed at any point of time. As such, the availability of spare parts always increases the resale value of the car. It is not just about the availability of the parts in the market, t is also about how much they cost. If the genuine parts are available at a cheaper rate, the resale value of your car would again go up.
Taking care of your vehicle is important. It is not just the engines that one needs to care of, but the interior of the vehicle as well. If you have many accessories in your vehicle, the resale value of your vehicle would soar high. These days, having an air conditioner and power window is almost a must. Other accessories such as alloy wheels, and airbags, are the factors that are often considered while determining the resale value of a vehicle.
Like they say, the first impression is the last impression. That is the case with vehicles. The more sharp and attractive the exterior, the more resale value for the car. Basically a vehicle that hasn’t met any accident and does not have dents, or scratches have the best resale value.
Market sometimes works in favor of the person trying to sell his car, and sometimes it doesn’t. It is the same for the vehicles as well. Let’s just suppose that you bought your vehicle for Nrs.10,00,000 five years ago. And in the present context, let us suppose that the same vehicle has the market value of Nrs. 15,00,000.
Because of the favorable market condition, you got now have an upper hand when you sale it. It is possible that you will be able to sell it more than what you paid. Or if you are lucky you could just be losing some amount depending upon the condition of your vehicle.
Mileage and Up Keep
How good the car is from the inside or outside becomes secondary for a vast majority of the people when the ultimate question is, “how much mileage does it give?” Well your car will be definitely resale friendly if it is fuel friendly.
Of course the conditioning of your vehicle would play a huge role in ensuring the optimal mileage. Simple measure such as getting your vehicle serviced on time, checking the air pressure, changing the oil, cleaning up the air filter, and changing the air filter on time, will increase your car mileage.
Evaluation of the Vehicle
Often a vehicle is evaluated based on the year the vehicle was made or manufactured. The older it is the more it depreciates. One reliable way to evaluate a vehicle is to see how many miles it has run so far.
But even that is not the most reliable method, as the condition of a vehicle depends to a greater degree on its maintenance record. For example, if one car has run 2000 kilometers in a year but has never been serviced, but another car, which has run 8000 kilometers in a year, has been maintained well, the second car would probably be evaluated better when it is considered for resale.