“I want to sell my car, but on what basis do I decide the price of my car?”. This question often pops up in the mind of a person who desires to sell a used car.
Well, you must know that there are certain specific factors that decide the value of your car. Before deciding the price of your car, you must know these factors to ensure that the price you decide is logical and fair.
This blog explains these factors. Hence, if you are confused about what should be the price of your car, reading this blog will help you considerably.
What are the factors affecting the value of your car?
Checkout the major factors affecting the value of your car below.
1) The odometer reading of the car: Your car might be 10 years old, but it won’t be considered aged if it isn’t driven much. The distance your car has travelled plays a significant role in deciding the value of your car.
Hence, before you decide the value of your car, check out the odometer readings. If these readings are low, you can expect to fetch a decent value as the potential buyers would like to purchase the car with low odometer readings.
2) Car model & year of manufacture: This is another important factor playing a decisive role in terms of deciding the value of your car.
The car which is manufactured a few years back will be less popular and hence it will be fetching less value. Then, if the car model isn’t in much demand for a while, or if the parts of the car model aren’t available with ease, the value is expected to degrade.
Hence, as a car owner, you need to take the car model & the year of manufacture into the consideration.
3) Condition of the car: The condition of the car is another crucial factor playing an important role in terms of deciding the value of your car.
You can expect to get a decent value for your car if it is visually appealing. While, if it isn’t, it will create a negative psychological effect on the person’s mind and hence degrade the value of the car.
Along with the exterior, the interior of your car plays an important role too. Keep the car’s interior clean to ensure that the potential buyer doesn’t get negative vibes from your car.
4) Car’s service history: The car’s service history is another major thing that can give you a good resale value for your car. If you have kept your car well-maintained, and if you have a record of the same, you can ask for a decent value of your car.
While, if you don’t have the service history, even if you have maintained your car well, the price will be compromised as you don’t have any proof to show.
Hence, if you are having the question, “I want to sell my car in Toronto, how do I get the best value for the same?”, keep the car’s service history intact.
5) The damage history of the car: By providing the damage history of the car, you prove that the car has never been involved in any accidents, which has kept it away from major repairs. It would automatically increase the value of your car.
Yes, if there had been damages and if the car has demanded major repairs, it would degrade your car’s value a bit, but then it’s all about being transparent. Keeping the damage history of the car intact and showing the same to the potential buyers is always recommended.
These are some of the top factors affecting the value of your car if you are looking to sell car in Toronto. We highly recommend keeping the above tips in your mind before you decide the value of your car.
If you are looking to sell your car in Toronto, you can count on SellUrCar.ca to get the best price for the same. With us, you can stay assured of the hassle-free car trading process along with the best price in the market. To connect with us, call us at 416-841-7058.
