Are you familiar with the factors that affect a vehicle’s trade-in value? While some may be largely apparent, there are a few that are unpredictable and could easily reduce your chances of breaking even. This is why professionals at Mint Auto Sales in Islip, NY, strongly encourage their clients to become acquainted with the components that may alter the amount they receive for their used car. Not only will this information help you to better understand the trade-in process, but it will also set realistic expectations prior to the appointment. Below are the top four factors that play a part in determining a used car’s trade-in value.
Top 4 Factors That Impact a Used Car’s Trade-In Value
The amount of miles that you’ve put on a car will directly influence how much you’re going to get for it. In most cases, used car dealers will pay more for a vehicle that’s under 100,000 miles because they have a good chance of selling it to an interested buyer. However, cars or trucks that are over 200,000 miles have a much lower probability of making big bucks for their owners.
Technology, materials, and manufacturing techniques have changed a lot over the years and can have a major say in how much your used car is worth. It might not matter as much as you think whether you kept up with the required maintenance or that the vehicle is in near-pristine condition. If it doesn’t meet the needs of prospective buyers, then a used car dealer might have a difficult time getting it off the lot and may offer a lower price than you were hoping for.
This is one of the most obvious factors that can influence the trade-in value of your used car. It includes visible signs, such as dents, stains, and tears, and it often comes down to your vehicle looking fantastic or like it hasn’t received any TLC in the last couple of years. In the end, if the car doesn’t look so great, you can’t expect to get much for it.
Sometimes all it takes is age to change how much your car is worth. This is called depreciation. It happens the moment a new car has been driven off the lot and can quickly cause the vehicle to be valued at much less than what it sold for when it was fresh off the production line.
If you’re looking to trade in your vehicle, don’t hesitate to connect with the experts at Mint Auto Sales. They specialize in all makes and models and have become known as one of the region’s most reliable used car dealer. Call (631) 277-0022 to set up an appointment or visit their website for more information.