1. Mechanical Condition
Giving the car a test drive is the easiest way to gauge the mechanical condition. Checking some factors are easier than others when conducting a test drive eg are there scraping noises going over bumps, is there an obvious tug to one side, any problems with the braking? By finding these conditions, the value of the car will be lessened by the price of the replacement part plus the labour cost.
2. Exterior Condition
The exterior condition of a vehicle not only will affect the value but will also affect the saleability. People will first make a judgement of the car based on its exterior condition immediately. Scuffed wheels, for example, have an average restoration price of £60/wheel, possibly including both wheels to be painted on the same, other factors would be dings, dents, and paintwork. Sometimes what looks like a mere scratch can turn out to require the whole door being replaced rather than the touching up you thought it owuld, typically you could easily drop upwards of £100 on such a panel or door replacement. Then we have trims and badges that can start from £100. Visit buy my car site for a more in depth look.
3. Interior Condition
We see a wide range of interior conditions on a lot of different vehicles, some notable conditions are; a scratched dashboard (which will be reflected in the sale price as it can’t be repaired), hard to replair floor and/or seat fabrics (reupholstering price typically starts at £75 a section). If the car is in need of a professional interior valet including shampooing seats thanks to eg dog smell, this could cost up to £50.
4. Mileage
Mileage is an important factor in the vehicle retail price; the vehicle loses value the higher the mileage is.
5. Previous Owners
The desirability of the vehicle will descrease as the number of previous owners goes up which will affect the resale price of the vehicle. In order to combat this rate, a cheaper price for the car would be suggested.
6. Service History
This can be a deciding factor when selling a vehicle with a high amount of previous owners; vehicle desirability is lessened with little to no service history. However, one should consider that if a vehicle has been serviced 5 times, it may just be the result of 5 previous owners each servicing it when bought, making this a potentially misleading figure.
7. MOT
{A vehicle with a short MOT will highly affect the ability of a vehicle to be sold and the value|The value and saleability of a vehicle will be highly affected by a short MOT|the ability of a vehicle to be sold at its full value will be high affected if it only has a short MOT). Firstly, we need to look at the actual cost of the MOT test. Starting from £50, there is the unknown fear factor of what could be failed, brake discs, brake pads, and 2 tyres, the cost of this would start from £300. We would recommend getting a new MOT, to help sell your car, and so that the buyer knows they are getting great value for money.
8. Specification
When considering a vehicle purchase there are different varieties of model; generally a vehicle with greater specs will prove a better investment as it will likely hold its value for longer.
9. Saleability
Saleability is the ability for a vehicle to be sold. Factors can include engine size, fuel consumption, fuel type, engine transmission type (automatic or manual), if a vehicle can enter Ultra Low Emission Zone or a certain tax bracket and insurance group. These may be important factors to consider for some but not others, meaning the vehicle could be hard to sell unless it was offered for the right price.
10. Vehicle Colour
A vehicle’s colour can affect the vehicle re-sale price in a major way, Certain coloured cars have much less of an appeal to the general public.
Conclusion
To understand how much your car is worth, a full vehicle appraisal will have to be undertaken. This may seem daunting but to a dealer, this is an everyday scenario, from an appraisal a true value of you car can be given. Click on over to this car buyers link if you are looking for an estimation. Get 3 separate valuations relating to different vehicle conditions for greater clarity how a vehicle condition could affect the price.
Infographic provided by Chrysler Factory Warranty, a Chrysler extended warranty company
