What Factors Might Decrease The Value Of Your Car?
A car is like a house, a number of factors can affect its value. To become a smartest automobile buyer or seller, having the up-to-date awareness about every facet that can decrease the value of your car is vital. The basic factors like age, color, brand, and maintenance history are enough to add or remove a few zeros from the cars’ cost. It’s fair to say that all these factors can affect how much does a car worth buying/selling.
So, without a further ado, let’s dive into the core reasons affecting the value of the car.
This is how a Few Aspects Decrease the Value of Your Car
When you sell or buy a car, it is important to know about a few factors that can influence the value of the vehicle. What are these factors? Let’s find out right now!
1. What are the Current Circumstances?
This most obvious yet important facet, which affects the car’s value for sure, is its current condition, for sure. The condition of the car states that how much has it bear until now and how much it can bear in the future. The previous repairs and damages are also the factors that one can consider, as well. Even though, a chip in car door might reduce the value of any luxurious vehicle.
Sadly, nobody would be willing to buy a car that has been repaired numerously or have met an accident. Therefore, in these cases, some car valuation services might give a whole estimate of entire price included to repair the damaged parts. But, not repairing the damage can definitely lower down the in total cost of the car naturally.
2. Brand & Age
The brand influences the car’s value to the highest degrees. Even if the condition of the parts is fantastic, if the brand isn’t famous, it will surely decrease the value of your car. The top rated brands naturally make people buy them even it has been used for years. The biggest example of this is the oldest automobile- vintage cars that people still buy for millions of dollars.
Besides, of its brand, age also have an effect on the price of your car. The average car lasts about 15 years. It doesn’t matter if it has ever been driven or not, time will slowly take its levy.
3. The Color Affects too
Apart from the industrial knowledge, believe it or not, color does affect the value. A person living in the hottest region of the world would never like to buy a car of blazing black color. Furthermore, you might love to travel in the purple or white colored car in the rainy and hilly area. Overall, it’s just about the matter of desire.
4. Body Style
The change in body style could be a turning point in the cost of the car. Who does not want to have the latest modified body with some additional features? Surely, you won’t! If you are willing to buy a new car and the manufacturers are planning to launch the new body, chances of buying the latest version than the older one are high.
It’s important to remember that when you have to calculate the complete cost of the car other factors such as mileage, engine, performance, and the mechanical condition can also increase or decrease the value of your car.
So, analyze your car’s value on the bases of all these factors today!