Getting the Best Car Resale Value: The Important Factors that Determine The Resale Value of your Used Car
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The Key Factors That Determine the Best Car Resale Value

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The Key Factors That Determine the Best Car Resale Value

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Planning to sell your second-hand car? Looking for a car resale value calculator? Read on! When it comes to selling, you should be getting the best car resale value. However, getting the same price that your friend with an identical model, got last year will be wishful thinking. There is more than one reason that’s responsible for the depreciation of your used car. And, it starts right from the time you make the purchase. As soon as you pay for the car and get your hands on the keys.

best car resale value

Finding buyers to garner the best car resale value:

Cracking, analyzing and finalizing the best deal is quite an intimidating task. If you are a first time seller, contacting a professional is highly recommended. To get the right buyer, you got to ensure your requirement reaches the right set of audience i.e. car buyers. You might post it on various online platforms but the chances of getting a genuine call are meager. Most of them are present there either to capture data or to kill time, yes you read it right. Cars24 does the work of swimming through this swarm of so-called-buyers to ensure you meet the most genuine buyer. The one, who is seriously interested to buy your car and is also ready to offer the best resale value of your car; thus, giving all used car sellers an easy way out.

Well, that’s a full cycle in a nutshell. Finding the right buyer is only a tip of the iceberg that you can see with your naked eye. Getting the RC transfer along with other legal paperwork, transport of the car and most importantly getting the money in your account are a few steps that can leave you wasted for days. Here’s when Cars24 can come to your rescue. Anyway, here are some of the pointers to ponder over that will help you gauge the most accurate resale value of your car.

Depreciation:

To start off, you should by mindful of this point right from the time you decide to buy a car. Remember, the value of a car starts depreciating the very moment you make the purchase. According to experts, about 35% of a car’s value plummets after a span of five years. The value fluctuates depending on the time and effort you invest to ensure your car remains in spick-and-span condition.

best car resale value depreciation

Brand:

Running behind brands is not a new concept in our country. And, the used car market is no exception. If your car is tagged with a reputable brand, superior and trustworthy, then you’ll eventually garner a higher value.

best car resale value brands

In-Demand:

The simple rule of demand and supply remains valid in the domain of used car selling as well. If the make and model of your car is a rare breed and rarely available, you can definitely expect your wallet to become fat. On the other hand, if there’s a countless number of the same cars waiting to be sold, then be content with whatever you get.

Best car resale value

Economic Conditions:

As per the popular adage, ‘money is not everything but you need money for everything.’ So, it goes without saying that if something like a recession hits the market the rate of buying used cars would automatically plummet. If there are a number of cars waiting to be sold then your trade-in price will be commensurately lower.

best car resale value inflation

Kilometres Covered:

When we talk about Mileage, there’s a general conception that does the rounds which is “kitna deti hai?” or fuel efficiency. Whereas the real meaning of mileages is the number of kilometres a vehicle has traveled. So, the higher the mileage of your vehicle, the lower will be its trade-in value. No matter how impeccable the car’s condition is, odometer reflecting high mileage will make customers disinterested in buying the car.

best car resale value odometer

Condition:

There are various parameters on which a used car is given a rating like “Good”, “Very Good”, “Average”, “Rough”, “Damaged” so on and so forth. It depends on a number of factors, one of which is if the car suffered an accident or not. Both, the exterior and interior appearance are a component of the vehicle’s appraised value.

best car resale value damage

Timing:

The best time to sell your car is definitely during the festive seasons. This is the time when people are in the mood to add an asset, like a car, to their lives. Other than that the beginning of a new year is preferred at large. It’s always better to have your registered month and year as January, 2018 rather than December, 2018.

best car resale value calendar

Well-kept:

This goes without saying much. A car that appears good will attract buyers in a jiffy and get sold before the ones parked to its right or left. The well-cleaned, well-polished external look attracts eye-balls while the interior look initiates the final nod. This does not mean that you always need to hire a professional cleaner to ensure you get the best car resale value.

best car resale value cleaning

Previous Owners:

We have discussed this in many of our blogs earlier. The history of your car majorly depends on the number and types of owners it has had. If the owners were bad or rash drivers, there are high chances that the car might have had a collision with other vehicles. Also, improper use of car parts like the steering and clutch, adversely affects the overall performance of the car. And, a car with poor performance hardly finds any buyer.

The above points will come to your help when you are out to sell your used car. You will be able to estimate the right resale value of your car. For more information on used car selling, visit Cars24/blog. If you want to sell your used car right now, you can contact us at Cars24