The consensus is pretty clear – car modifications will most likely hurt your chances of getting a top dollar price for your car. Crazy vehicle mods might look awesome and funny vehicle mods might be entertaining, but the chances of someone else wanting 20-inch spinning rims and limo tint on the windows of a late 1990s Honda Civic hatchback are slim to none. (more…)
After all, cars with good resale value generally make for much smarter buys new, because you’ll get more of your money back when you go to sell your car someday. So whether you’re buying or selling your car, you should be interested in car resale values and the forces that drive them.
First and foremost, car brands and models that are synonymous with quality and reliability often have very good resale values. Brands that come to mind in this category are Toyota and Honda, among others. These cars are generally perceived to be very reliable, and this helps fuel their strong resale values. Since consumers are willing to pay a bit more for this reliability on the used car market, these cars often have good resale values.
Now, more than ever, astronomically high gas prices are having major impacts on used car resale values. Consumers are looking for cars with good – if not great – fuel economy. Large SUVs and trucks, vehicles which often get less-than-stellar fuel economy, have generally poor resale values as a result.
Again, smaller cars, from makers like Honda, Toyota, Mazda and others come to mind, as they generally get very good gas mileage; a feature consumers are willing to pay a bit more for in today’s market.
Cars from Hyundai and Kia, although generally perceived to get excellent gas mileage as well, still do not have very high resale values. This could be due to the fact that negative consumer perception of other factors, like construction quality, and overall reliability, outweigh the positive impacts that good fuel economy has on these cars and thus the resale value of these cars is lower.
Luxury European automobiles and super-luxury cars in particular, have very high resale values. Cars like Porsches, BMWs, and others often demonstrate high resale values as a result. Consumers view these cars as being high quality, high-class, and this is reflected in strong demand on the used market, keeping resale values high. These cars often also have high ratings in safety and durability, further contributing to their good resale values.
Some luxury cars do not have high resale values, although they may still be of generally high quality. Jaguar and Saab cars often fit into the luxury category, but this is not reflected in their resale values, which are notoriously, lower than many other luxury car brands.
All in all, consumer perceptions and overall public opinion of a car brand and model, in combination with economic factors, like high gas prices, all have major impacts on car resale values.
Why not find out! At Big Bucks Auto™, you can get a free appraisal to sell your car today, with no obligation. We are a highly reputable used car buyer; the largest used car buyer in the New York Metro / Tri-State area. With Big Bucks Auto™, you’ll be able to get fast cash for your car, without the hassles of selling privately. So come on in to Big Bucks Auto™ today, and get a free no obligation quote on your used car!
Learn more about why choose us to buy your car and call us today at 1-888-44-BUCKS or 1-888-44-8257
When you go to sell or trade-in your used car, there are many factors that will contribute to the car’s resale value. Some of these factors are far more obvious than others, and many may even be out of your control as a car owner. However, it can still be helpful to keep the factors that affect an automobile’s resale value in mind before buying a new car, or selling your current car.
Your cars mileage probably has the biggest impact on the vehicle’s resale value. It’s really quite simple; cars with fewer miles are generally worth more money. A good rule of thumb is that 10,000 – 12,000 miles per year is considered to be about average. Much more than that will likely have a negative effect on your car’s resale value.
To get the best resale value for your car, try to sell your car in its best season. In other words, a 4×4 vehicle will likely sell for more, and sell more quickly, during the winter months, while a convertible will have the best resale value during the summer months.
Cars in better condition are certainly worth more when it comes time to sell. Dents and dings, chipped paint and holes in your cars upholstery means a negatively impacted resale value. Keep your car in good condition and get more money when you sell.
Cars that were ‘loaded’ with all the good most desirable options are worth far more than base model or lightly optioned cars.
Make and model has a huge impact on car resale values. Some make and model cars are simply less than desirable on the used market, while others are in high demand. For instance, American-made family sedans generally do not hold their value well, while European cars may hold their value far better for many years. Make and model, and consumer perceptions of the make and model can have major impacts on your car’s resale value.
Although current economic factors are beyond your control, they still affect automotive resale values. For example, the currently high gas prices hurt resale values for gas-guzzling SUVs and trucks – while having an extremely positive impact on economy car resale values.
A car that looks better almost always sells better! To maximize your car’s resale value keep it looking good by washing, waxing and vacuuming, especially before you show the car to prospective buyers.
With everyone having easy access to sites like Carfax.com and other vehicle history reports, it’s easier than ever for a consumer to check on a vehicles history before making a used car purchase. A history of any collisions or other problems can certainly have a negative effect on your auto resale value; another reason to stay out of collisions and drive safe!
Supply can have a big impact on car resale values. If there are a lot of cars like yours for sale in your area, it will likely be harder to sell your car. Adversely, a limited supply could make it easier for you to sell your car quickly – and for more money.
There are a multitude of other factors that can affect automobile resale values, from service records to magazine reviews to the color of your cars exterior. Some of these are out of your control, while others are not. All in all, you can make sure you get the most for your used car by taking care of it while you own it, keeping mileage low, and staying out of accidents!
Are you curious about how much your used car is worth? Get a free quote to sell your car today, from my team at Big Bucks Auto™. We are a reputable used car buyer; the largest used car buying service in the New York Metro / Tri-State area. With Big Bucks Auto™, you’ll be able to get fast cash for your car, without the hassles of selling privately.
Thinking about selling your car? Read our How to Get Fast Cash for Cars article for some useful tips.
