An old car can either be an asset or a liability. Most vehicles are considered to be an asset because you can resell them at a stage to get some of your investment money back. Your car is also pretty handy when it comes to transportation. But vehicles are not always an asset. Sometimes your vehicle can be dangerous, can leave you stranded and can cost you a lot of money when it is constantly breaking down.
There are many things that can affect the value of your old car in Melbourne and up next we are going to discuss a few of the biggest factors that can have an effect on the value of your car and your ability to get it sold.
Age or year model of your vehicle
Your vehicle’s year model has a huge impact on the value of your car. The older your vehicle is the less valuable it becomes simply because everyone knows that the older a vehicle is the greater the risk is of getting a breakdown. There is also that whole appeal problem since older models don’t have that desired image as modern vehicle designs. In rare cases, vehicles do however increase in value over time. Rare vehicles, sports vehicles, and incredibly popular vehicles will first decrease in value for a while after which it will increase in value because it becomes a historic and desired item.
Brand of your vehicle
The brand of your old car has a pretty huge impact on the value of your vehicle. Some brands are just more popular than others. Let’s compare brands like Honda, Subaru, and Toyota to brands like Lexus, Mercedes, and Audi, for example. A vehicle with the same size, performance and style will be a lot more expensive in some brands than others no matter how great the condition of your car may be.
The condition of your vehicle’s exterior is obviously also very important. No one is going to dish out plenty of money for a rust bucket or for a vehicle with lots of visible damage. It is also true that clean and polished vehicles sell a lot quicker than dirty vehicles even though they might be in a worse condition.
A vehicle in running condition has a much higher sales value than a car that is broken down. If you are simply looking to get rid of your car to clear some space then by all means; sell it as is. But if you want more out of the deal then fix that car up and get it running before you sell it.
The interior of your vehicle can also affect the value of your car. If your dash, seating, and carpets are still in great condition then you will get much more for your old car than you would have for a stained, messy and torn interior.
Yes, the colour of your vehicle does affect its value. Most people prefer white, grey and black vehicles. If your car is in another colour you will have a much harder time at getting it sold simply because most Melbourne residents prefer these three shades when it comes to their cars.
Lower odometer readings means a higher value no matter how old your vehicle may be. Even new vehicles with high readings will fetch a poor price because buyers know that these vehicles have been used a lot and have a much bigger risk of breaking down and mechanical failures.
As you can see, it isn’t the easiest of tasks to establish the value of your old car. Plenty of things can affect the value of your vehicle but if you want a quick and easy way to determine your car’s value then All Cars for Cash can certainly help you out. We constantly deal with cars and know exactly what the best sales price might be for your old car.