What Is the Value of Your Used Car?
According to an online automotive review site, about 40 million used vehicles are sold each year. The companies that monitor those sales have a priceless resource: accurate statistics about what sells and for how much. These numbers should be known to everybody who tries to buy or sell used cars in Tucson to get a good deal or at least a fair deal.
Getting to Know Your Used Car’s Value:
Several websites provide pricing resources. It monitors customer sales, wholesale auctions where dealers buy and sell cars, sales by independent and franchise dealers, and other transactions to track thousands of new and used car purchases each week. Edmunds and the National Automobile Dealers Association are also excellent sources of pricing and purchasing statistics. The three sources have slightly different pricing since they pull various data and use different algorithms to calculate value.
Condition and Mileage:
In a nutshell, mileage and condition are the two most important factors that influence the price of a used car. Color, place, and options all play a part.
According to Alec Gutierrez, senior analyst for Kelley, as mileage rises, so does wear and tear. A prospective buyer will be less willing to pay top dollar for a vehicle with 200,000 miles than one with 30,000.
Although the condition is more subjective than mileage someone selling a reliable, accident-free car with paint scratches and surface rust might describe it as outstanding, whereas most buyers might describe it as good to the median, it is just as predominant in determining value as mileage. Their uses will not be highly sought, for vehicles with ribbed leather seats, malfunctioning computer equipment, scraps or teeth, or other similar problems.
Depending on the vehicle in question, the location of the vehicle may also play a role. Family sedans in the mid-price range are usual everywhere, but more advanced vehicles perform better in specific areas. Along the coasts and in warmer climates, convertibles and sports cars command higher costs, but trucks and SUVs perform better in the Northeast, Midwest, and other snowy regions, according to Gutierrez.
Options and Add-ons:
Opportunities can be hit or miss, but diesel engines, all-wheel drive, and wide-ranging moon roofs seem to outlast others, Gutierrez said. According to Philip Reed, a senior Edmunds customer consultant, there’d also be a premium sound system and leather seats in the industry.
Then there are things like air conditioning, power windows, and door locks that only impact the price of a car when they are not present. These were once worthy choices, but they are now commonplace.
With one exception, automatic transmissions (or those that operate similarly, such as dual-clutch or continuously variable transmissions) fall into this group. Used sports cars with manual transmissions, such as Nissan’s 370Z, are likely worth more because consumers are willing to forego comfort in exchange for more driver interaction.
When valuing a used car, there are a few things to keep in mind:
The value of a used car in Tucson is determined by several factors, with kilometers and condition as vital factors. Options, venue, and color are the other deciding factors. However, those laws aren’t absolute; what applies to a manual-shift sports car does not apply to the family trickster. To a car enthusiast, a Corvette with a slushbox is depressing. However, a minivan with a manual transmission (which used to be available) is just as useless.
