USED CAR VALUES

 

 

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YOU GET WHAT YOU PAY FOR: 3 FACTORS THAT DETERMINE USED CAR VALUES

1.  When you’re in the market for new used vehicle, you know that buying it is a real investment. Yes, used vehicles tend to be much cheaper than a new one but still its price will often demand that you get a used car loan. Thus, it is imperative you know what factors will determine used car values. You can get a rough idea on used car values by checking out Kelley Blue Book; but, there are other factors to be considered when making a used vehicle purchase.  

2.  What Factors Make Up Used Car Values
1 – Vehicle’s Age

The age of your vehicle is one of the many ways to come up with used car values. After all, an older the vehicle is, the less the asking price. It will also have a lengthy history. It doesn’t matter if it’s been driven for short distances or long distances, the metal on the vehicle will begin to tire after so many years. When people determine the used car values on age, they know that an older vehicle tends to have problems. And, obtaining any replacement parts for it can be extremely difficult to do.

2 – Mileage

Another factor for determining used car values is mileage. The more mileage a vehicle has, the more wear and tear the vehicle has been exposed to. High mileage vehicles tend to have lower used car values. Once you reach a certain mileage level, the car is thought to be older than its actual age.

3 – Vehicle’s Make and Model

Oddly enough, a vehicle’s make and model will have a significant impact on used car values. After all, some vehicles are much more expensive than others, which means their used car values are going to be much higher. Plus, the popularity of vehicles also plays a role in used car values. If a vehicle model has been very popular with the public, such as the Toyota Camry, then it’ll sell more than other lesser known, less popular vehicles.

3.  How To Purchase A Used Vehicle
You have two options on where you can purchase a used vehicle:

- Private seller
- Dealerships

If you purchase through a private individual, the vehicle is typically sold “as is” and, if anything goes wrong with it, you’re pretty much out of luck. Now, used car dealerships will sell a vehicle that’s got a guarantee of ensuring the vehicle lasts for a longer period of time.  And, if you want to know used car values, a dealership is more likely to objectively tell you this information than a private seller would.

4.  Lemon Laws Protect Buyers From Bad Cars
Lemon laws have been put in place to protect used car buyers from devious used car sellers. These laws tend to affect dealerships and make sure they honor any warranty offered on the vehicle you purchase. If something goes wrong and the part is under warranty, the dealership must do one of three things:

- Replace the part
- Fix the car
- Refund the consumer’s money

used car values
This tends to give the buyer some peace of mind; but, it does affect used car values. Of course, the majority of car buyers will pay additional money to have a car that’s dependable.

    

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