Selling a used car can be a great way to make quick cash, but depending on the current value of your car, it might not be as much as you think. So how do you get an accurate figure for your car's valuation and what exactly affects how much your car will cost?
The fact is that your car will "depreciate" in value over time, but there are things you can do to help minimize the rate of vehicle depreciation. You can navigate to this website pricemycar.net/ to value your car online.
Depreciation is the difference between the amount you paid for your car and the amount you sold (or partially replaced). Depreciation begins when a new car is purchased and mostly occurs in the first year the car is used.
In addition to the make and model of your car, it is important to understand the factors that determine the value of your car.
Condition: According to our used car team, the condition of your car is the most important factor. Your car may be 7 or 2 years old, but its condition will ultimately determine how much money you get if you decide to sell it.
Mileage: Another factor that seems to have a bigger impact on the value of your car than age is mileage. The more distance a car saves, the less money it will sell, no matter how old it is. That's why some people opt for mileage limits – to retain the value of the car when it's time to sell it.
The lower the car's mileage, the more desirable the next buyer will be, as higher registered mileage indicates expensive maintenance in the future and less longevity on the road.