Factors Affecting a Vehicle's Appraisal Value

Factors Affecting a Vehicle's Appraisal Value
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Factors Affecting a Vehicle's Appraisal Value
When you’re considering selling your vehicle, there are a couple of factors that affect its appraisal value. Let us help you explore some of them below.

CAR MILEAGE
High mileage will negatively impact the sale price, and it's often the most significant determining factor. A general rule of thumb is that as mileage increases, the wear and tear on the vehicle also increase. It stands to reason that a car with more miles on it will not sell as quickly as a vehicle with fewer miles.

YOUR CAR’S CONDITION
While one may think the condition and mileage go hand in hand, this isn't necessarily the case. One could have a car with very low mileage that did not receive the proper care. You'll want to keep the exterior and interior as clean and intact as possible. Including fixing up minor dents and dings, as well as maintaining the state of the upholstery.

VEHICLE MAINTENANCE AND ACCIDENT HISTORY
Prospective buyers may check a vehicle's services records to ensure the previous owner adequately maintained the car. Involvement in a severe accident, or a history of critical mechanical failures can hurt your car’s future resale value.

ENSURING YOU GET A GOOD DEAL
Your main takeaway from this is that you should not take one valuation source as gospel. After performing a fair assessment of your vehicle's actual cosmetic and mechanical condition, you should check various appraisal sources for a range of values that will help you to come up with a realistic number. It's important to know that you probably aren't going to get a top-dollar sales price for your vehicle unless it's in top-dollar condition and you and find the right retail buyer for it.

Knowing these four main factors will help give you a leg up on the competition, whether you want to buy a new or used vehicle or when you decide to sell your car. At the very least, it should help you manage your expectations on how much you should be able to get for your vehicle.

If you’re interested in selling your vehicle, contact us today. You can sell your car in just three easy steps!

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