The used car market is a finicky thing.
Even though a group of used cars may seem practically identical, their prices might vary dramatically. That’s because no two cars on the used market are the same: some cars have had hard lives and are driven aggressively, while other cars are barely driven museum pieces. Some may have a detailed history of when they were serviced and by whom, while others have no history at all. Some cars are blue while others are silver.
These are all things that can change how much a car is worth on the used car market. Here are 10 things that can affect a car’s resale value and why.
This is a stone-cold fact: the more mileage a car has, the lower its resale value. People buying a used car want to buy the least-used example of a car and the first thing they’ll look at is mileage. A used car with low mileage will be worth more on the market.
“Condition” can also pertain to the mechanical performance of the vehicle. Cars that are running roughly or have smoke coming out of the exhaust will have lower resale values. Same goes with cars that have squeaky suspensions, leaking oil or other mechanical issues. The best way to keep your resale value higher is to complete all the scheduled maintenance and keep track of all the work done on your car.
One thing that people will pay for is a well maintained and documented car. A car with a portfolio of receipts detailing and proving that the vehicle was maintained properly during your time with it will impact resale value in a positive way, compared to a car with no history at all.
read more at autoguide.com