Here Are a Few Factors That Affect Your Car’s Worth

These Factors Determine Your Car’s Resale Value

Selling your car can be both simple and challenging at the same time. It is simple if you do not care about how much it will sell (even below the market price), in which case the faster it sells, the better.

However, it is challenging if you are trying to find a buyer who will buy your car for the bare minimum or even the average market price.

See also: Do These before Buying a More Than 10-Year-Old Car

There are a number of internal factors that influence the value of your car in addition to the market conditions on the outside. The introduction of a wide variety of new cars at affordable prices is one of the external causes.

Here are a few additional internal factors that are also relevant.

MileageWhen purchasing a used car, it is generally accepted that the model that has been used the most, or is well-worn, will be priced lower and vice versa.

The number shown on a car’s odometer can be used to determine how far it has been driven over the course of its lifetime. This, however, does not always represent the actual condition of the car—

some cars with high mileage are still in good shape because they receive routine and thorough maintenance. Low-mileage cars that have never been maintained, however, can be in worse condition.

Service historyIn some cases, a good service history can greatly increase the car’s resale value. Regular and thorough maintenance will go a long way towards maintaining the car’s condition, and vice versa.

However, there is a catch: the car should be regularly serviced in an authorized service center and all maintenance performed should be well documented in its maintenance record. When these requirements are met, you may be able to persuade your buyer to accept a higher price.

See also: Save Yourself from Future Problems, Check and Authenticate the Documentation of a Used Car When Buying One

Car’s conditionThe condition of your car also plays a significant role in the buyer’s assessment of its value. If your car has dull paint, scratches, or dents, it will sell for less than it should.

The price will be considerably lower if the engine has problems. Smoking exhaust, unusual noises, history of accidents, and flood damage also contribute to the car’s low price,

in addition to weak, loose, and noisy suspension and steering system and other types of damage to the system, which can cause the car to shake while driving. You need also take into account the car’s electrical systems, which are indicated by the lamps and audio system.

See also: Trading In Your Used Car? Leave It to the Professionals!

DocumentsEnsuring that all the car’s paperwork, such as vehicle registration certificate (STNK) and vehicle title (BPKB) is available and intact is not enough. You need to pay more attention to the former.

If the STNK is close to expiring, your car will be valued less. Why? Because your buyer will certainly argue that they should cover the cost of the impending renewal and the car’s taxes, they should deduct that expense from the price they will be required to pay.

The price will even decrease when the STNK has passed its expiration date. To further delay the expiration date, you must renew the STNK and pay any taxes due on the car.

As far as the car’s documents are concerned, confirm that your name is listed as the owner of the car. If it is someone else, the price may change because the buyer will have to deal with that person to have it changed to their name later.

Car’s makeWhen purchasing a used car, many consumers still base their decisions on the make of the car. However, some would argue that perception is the only factor at play. Nevertheless, it is well accepted that many consumers tend to like a brand more the more well-known it is.

Accordingly, it is a high-quality brand since many people trust it. Additionally, if your car is produced by a well-known brand, it usually has access to a wider network of service centers and numerous aftermarket services, providing your buyer with additional ease when they need to service the car. For that reason, the make of your car also affects its value.

See also: Looking for a Quality Used Car? Here’s How

If you want to sell your car fast, easy, and at a fair price, mobil88 is the place to go. The company, a subsidiary of Astra Group, has assisted numerous customers in Indonesia with their used car trade-ins and purchases for more than 30 years. 

Across the country, mobil88 has about 20 dealerships, which you can check out here: