What Affects My Car's Value?
What Affects My Car's Value?

What Affects My Car’s Value?

You’ve probably heard that you’ll never get what you paid for when you’re done with your car. That’s not entirely true.

One of the most critical questions when you’re planning to buy a second-hand car, is, “What affects my car’s value?”—a list of topics and factors that you should consider to assess this value properly when thinking about selling your car.

If you want intend getting the best value for your car, you need to know what affects its value. Many factors determine how much a car is worth. With these tips and advice, you’ll be on your way to getting top dollar next time you sell or trade-in your vehicle.

Mileage

Mileage is the most significant factor in determining your car’s value. The more miles you put on a vehicle, the less it’s worth.  Generally anything under 100,000 miles is OK. However, if a used car has over 100,000 miles, it will have a much harder time selling than one with 80,000 or even 90,000 miles.

One hundred thousand miles is usually when your car will start to give you more problems than can be easily fixed. If you intend buying a used car with over 100,000 on the odometer, make sure that you get a good deal on its price since it will likely need to be repaired sooner rather than later.

You should not that mileage isn’t the only factor in how much your car is worth. It’s undoubtedly one of the major ones, but there are others to consider.

Brand

Certain brands lose their value more slowly than others. This is because different companies make cars with different target audiences. Vehicles made for fleet use (like taxis and police cars) lose value very quickly because they tend to be driven harder and get less maintenance than private passenger vehicles do. Cars made for “image” are generally more expensive and retain their value better than more functional vehicles because they are built differently with higher quality materials and better engineering.

Vehicle History

Another critical aspect of your car’s value is history — accidents and repairs reduce its value, but proper maintenance can add value over time. Suppose you buy a rebuilt title vehicle or a vehicle from a private seller who doesn’t know its entire history (and doesn’t know how to find out). You’ll want to ensure that the vehicle has been regularly serviced, which will help preserve its condition and maintain its value.

Year and Model

Older vehicles typically have lower values than newer ones. Some older models are becoming highly valuable, including vintage cars from the 1960s and ’70s. In addition to age, the model of your vehicle can affect its trade-in or resale value. Certain models are more in demand than others for various reasons, including popularity and rarity.

Market Conditions

Market conditions affect the value of your car in a big way. Many things go into determining market conditions for your vehicle. Supply and demand are significant factors. How many cars similar to yours are available to buy in your area? Is there a high demand for the good or service you are buying? If there is an increased supply of cars similar to yours, it will drive down the price. The same goes for low supply. The more people who want the same type of car you have, the higher price you will get for it.

Seasonal factors are also crucial for determining your car’s value. In general, vehicles sell better in the spring and summer than in winter and fall. If you sell your vehicle at the right time, you can make more money than if you sold it during slow periods of the year.

Now that you understand what affects your car’s value, you can make an informed purchase decision. When thinking about selling your vehicle, the information above will be helpful when deciding on the price the buyer is likely to offer. If used wisely, this information can help you get the most money out of your vehicle when it comes time to trade up.

Car Leases in NJ & NY Done Right

How does a lease work? If you have more questions, we are here to help!

The Vantage Auto Group provides reliable car leasing options in both New Jersey and New York. On our website (https://www.thevantagegroupauto.com/), you can access an entire inventory of marked down vehicles that fit your lifestyle and your budget.

We also provide a selection of luxury cars at rock-bottom prices. These typically come from unions and corporations that can offer larger discounts. Our professional staff is ready to help find a vehicle to fit your tight budget or find financing solutions that fit your poor credit score. Give us a call at (844)-307-3885 to speak with a live agent, or feel free to email us with any questions.

At The Vantage Auto Group, we save you time, money and peace of mind when it come to Buying your New Car!

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

Get Started Today With Your Personalized Car Quote from Vantage Auto Group!

Good credit, Bad Credit, or looking to get an approval, CONTACT US Today!  We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.

Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

At Vantage Auto Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle.
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