Here at Quest Motor Group, we’re often asked by customers what affects the value of their car and with the answer being multiple factors, it can often be a little confusing!
So, we sat down with our sales team and put together a list of the most common factors they take into consideration when valuing a vehicle.
We all know that wear and tear is likely when owning a car, but it’s important to try to minimise this as much as possible. If there are minor repairs that need doing, such as a replacement headlight, it’s often better to fix it yourself rather than value the car as it is. This is because, in many cases, repairing the car is often cheaper than the amount the valuation decreases if you decided not to fix it.
Our top tip for maintaining your vehicles condition is to clean it regularly, using good quality products and to fix small damages before you value it.
It’s important that your car is regularly serviced to ensure the car is kept healthy and you’re kept safe. What’s more, a full service history also benefits you in the car’s valuation as it proves what work has been carried out.
We recommend our Quest Motor Group Service Plan, helping you keep on top of your cars service history, benefitting you when you want to value your vehicle – simple, easy and beneficial!
As everyone knows, the lower the mileage, the more desirable the car is – therefore increasing its value. This is because higher mileage cars are more likely to incur more maintenance fees. So it’s important to be aware of this when the time comes to sell your car!
Number Of Owners
This factor often depends upon the model of the car. For example, it’s much more likely that a convertible will have had more owners than an average family car and dealers understand this. However, if your car is a newer model that has had several owners, this can lead to questions being asked. Dealers may question if there is an underlying issue with the car and may also inspect the car more closely upon valuation.
A car with fewer owners is more likely to be in better condition, have all keys and a full service history, increasing the likelihood of a higher valuation.
It’s a well-known fact that cars depreciate in value as the years go by. This is due to advancements in technology, efficiency, design, safety etc. Although, even if your car is an older model, as long as it’s been well looked after, it should still have plenty of life left in it.
Unfortunately, depreciation is something that affects us all, unless you’re the proud owner of a rare classic car!
In summary, although there’s not a lot you can do to influence the natural depreciation of your car, by keeping on top of the regular maintenance and ensuring It’s kept in good condition, you’re more likely to receive a better valuation.
Now wondering how much your car is worth? Why not use our online valuation tool to receive a free, no obligation valuation in minutes!