At this point, you are probably wondering how much your car is worth.
Knowing your car’s worth puts you at a great advantage when looking to sell your car. It gives you a strong position on price negotiation. You would easily know if the buyer is pricing too low.
It’s good you are concerned about your car’s worth. The right valuation would usually benefit you for an insurance purpose and when selling your car. Also if you happened to apply for a car title loan the lenders will determine your loan amount by the value of your car.
The following are the best five ways to know your car’s worth;
A good start to evaluating your car’s worth is history. This might have to do with age most times and other factors like location, damages, previous owners, and odometer readings. All these and other information from your history are part of the factors that determine your car’s worth.
The service history is also an important part of your car history; it should be provided. Unavailability of service history may make it difficult to get your car off the market. Another part of history that determines your car’s worth is the number of previous owners.
The condition of your car is one of the factors that greatly influence your car’s worth. Be sure to know what condition your car is in. Your car is either in an excellent, good or fair condition.
If your car condition is excellent, it still looks new and is still in a great mechanical condition. A car in good condition has some cosmetic defects on it already, it doesn’t look new but is free of any major mechanical issue. Fair cars have defects that need to be repaired.
The lesser the category of your car, the lesser the money it will fetch, or we could simply say, the lesser the resale price.
Mileage can affect your car’s worth
Your car’s worth depreciates due to the effect the distance it has covered puts on it. A car with higher mileage has a lower value. Mileage causes wear and tear which is a great likelihood that your car may come down with technical damages in the future.
This is due to those long and extra miles your car has gone on. Mileage affects your car’s worth!
Warranty affects the value of your car
If your car is still under the manufacturer’s warranty, you are sure to have it up for a relatively great value. Warranty automatically improve your car’s worth.
When buying a car new, manufacturers often give a standard of a three-year warranty. A four-year extension in some cases. The longer the warranty on your car, the more influence that has on your car’s worth.
Modifications can be a good way to improve your car’s look or aesthetic value but often times; it may have a negative effect on your car’s worth. It narrows you to just having a particular type of buyer.
One of the reasons why your car’s worth may depreciate with modification is that it can easily mask damages, so overly modified cars may comply with legal and monitoring rules, but they may make a lot of buyers to run from buying your car.
If your shopping for cars and finding out the car value of those cars and find that they are way out of your budget. Car Loans Of America are here to assist anyone who is in need of financial help. We work with bad credit scores and provide same day funding.
Keeping your car in the close line assembly is best for attracting buyers to you which in turn improves your car’s worth. Learn more at http://car-loans-finance.angelfire.com/long-term-vs.-short-term-loans.html