Cars are one of those tricky things: you want to sell it and get the best value for it. But rarely – if ever – will you be able to get your money back from your vehicle. Cars are well known for their depreciation. But what makes them drop off so badly – and are some factors more predominant than others? We cracked the whip, did the research and have the results on the four things that bring down the value of your car:
Number 1: Mileage
The more kilometres your car has, the less money you will get for it. That is just a standard approach for all vehicles. The logic is simple: your car is getting used day-in-day-out and that wears it out. So no one is going to pay good money for it because it will only break down again.
Number 2: Time
The older the vehicle, the less money you can get for it (unless it’s a rare model – more on that in our final point). That is natural with all automotive vehicles. The older it gets, the more the value drops. The older the vehicle, the less money you will get for it. You can check out the value of your vehicle by trying our pricing calculator.
Number 3: Condition
There is no questioning that depending on the condition of your vehicle, the value will be different. The better condition you keep your vehicle, the more you can sell it for. However, if the condition is poor, it will greatly affect the price of the vehicle. That is why you should always be looking to keep your car in the best condition possible. At the end of the day, you can make more money from it. However, if your vehicle is in a poor condition, you can always sell it to a cash for company, like Cash For Cars Melbourne Vic – the best in cash for scrap car in Melbourne. They take any vehicle in any condition – and will pay you a great price for it!
Number 4: Rarity
There are some cars that are all over the road – like the Holden Commodore – so the more there are, the more competition there is to sell and that means the value drops. Rarity in cars is important because the more rare the vehicle, the more you can sell it down the line. The more common the vehicle, the less you can sell it for because you are competing with a larger market. Take the time to focus on how you can make your vehicle stand out from the rest of the competition if you do have a common model.
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