How Are Used Car Values Calculated?Posted by: Damon Webster | Posted on: May 19, 2022
The value of a car drops when you sell it later, so it's nearly impossible to get the same price you bought the car for, even if you resell it only months later.
To find out the exact value of your car, you can download a pre-owned car calculator tool. However, there are things you can do to get more value from a used vehicle. There are steps you need to take throughout the life of your car and a few weeks before selling it.
Image SOurce: Google
Car Age: The most important evaluative factor behind a used car rating is its age. The value of a car decreases at the time of purchase and loses its value every year, also known as "depreciation".
Depending on the model, variant, brand and various other supply and demand factors, cars continue to lose value. The younger the car, the lower its depreciation and the higher its value.
Distance Covered: Another important factor in determining the value of a used car is the amount driven. At first glance the odometer, which measures the total distance of the car, is sufficient. Usually, a car that has been driven a lot will fetch a lower price than a car that has only been driven a few miles.
Proper Care and Good Condition: Needless to say, a car that is well cared for will always attract attention. Therefore, make sure the used car is in good condition and that spare parts such as engine oil, oil filter, transmission oil, air filter, etc. are serviced regularly. has been replaced to be in very good condition.
There are various other factors to look at the price of a used car. The availability of proper documentation, data about the car, variant, year of registration, desired or unnecessary model, color, etc. determines its value.