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What Factors Figure into the Value of Your Used Car?

Are you in the market for a used car or thinking about selling yours? How do you determine its value? It’s not just as simple as checking Kelley Blue Book. There are several factors that play a role in the value of your used car. Let’s review what factors figure into the value of your used car:

Mileage –

The more miles a car has, the less it is typically worth. However, some used cars with high mileage may be in better condition and hold their value better if they have been well maintained. Keep service records to show regular maintenance, especially if your car has higher than average mileage.

Location –

The used car market can vary greatly by location. Demand for certain makes and models as well as overall supply and demand can affect used car values in different regions. For example, sports cars and convertibles sell better and for higher prices in warm climates and coastal areas.

Condition –

Obviously, a used car in good condition will fetch a higher price than one that needs repairs or has visible damage. Dents, scratches, dings can be repaired before you trade or sell your car and doing so can improve the price a dealership or individual is willing to pay for your used car. Also, headlight restoration can clear and brighten headlights, making a car look newer, which can also impact the value your car fetches.

Exterior color –

Believe it or not, the color of your used car can also impact its value. Neutral colors like black, white, gray, and silver tend to hold their value better while bolder colors like red or yellow may not be as popular with used car buyers.

Options and add-ons –

Certain features and upgrades can increase the value of your used car. Think panoramic moon roof, all-wheel drive, leather seats, or a premium sound system. Be careful though before making aftermarket “improvements” or updates. Personalization, rear spoilers, oversized wheels and aftermarket installed stereo speakers rarely improve value and can actually decrease it.

What if you want to sell your used car but it has some dents, dings, or scratches? That’s where Colors on Parade comes in! Our mobile paint touch up services can help restore the exterior of your used car and potentially increase its value before you sell it. So don’t wait – contact us today to schedule an appointment!