1. Mechanical Condition
An easy way to check mechanical condition will be to conduct a test drive. Checking some factors are easier than others when conducting a test drive eg does the vehicle pull to one side, are there any knocking noises when driving over bumps, how’s the braking? By finding these conditions, the value of the car will be lessened by the price of the replacement part plus the labour cost.
2. Exterior Condition
The exterior condition of a vehicle not only will affect the value but will also affect the saleability. The first observation of a car will be that of the exterior. This could include scuffed wheels (with an average price of £60 per wheel for restoration, with a suggestion of both wheel on the same side to be painted), other factors include scratches, dents, rust, bumps and scraped paintwork. If scratched paintwork is involved, for example, sometimes this requires the whole door to be replaced rather than a quick touching up, typically you could easily drop upwards of £100 on such a panel or door replacement. It could easily be another £100 to replace badges and trims. Visit sell my car site for a more in depth look.
3. Interior Condition
We see a wide range of interior conditions on a lot of different vehicles, some notable conditions are; a scratched dash (this cannot be repaired and will reflect in the final sale price), irreparably torn seat or floor fabrics (£75 a section being the typical reupholstering price). If the car is in need of a professional interior valet including shampooing seats thanks to eg dog smell, this could cost up to £50.
4. Mileage
Mileage plays a factor in the retail price of the vehicle, the higher the mileage the less value will be given to that vehicle.
5. Previous Owners
The resale price of the vehicle is affected by the number of previous owners- the desirability of the vehicle is lower the higher number of previous owners. Being more realistic with a lower vehicle price is the simplest way to deal with this issue.
6. Service History
When considering a high number of previous owners, service history can become a deciding factor; vehicle desirability is lessened with little to no service history. However, if a vehicle has been serviced 5 times, this might simply be the by-product of having 5 previous owners each servicing it when bought, thus making it look artificially well looked after.
7. MOT
{A vehicle with a short MOT will highly affect the ability of a vehicle to be sold and the value|The value and saleability of a vehicle will be highly affected by a short MOT|the ability of a vehicle to be sold at its full value will be high affected if it only has a short MOT). Taking into consideration the actual price of an MOT test first. There is always a fear the repair bill could quickly spiral from the basic £50 to £300+ for anything from eg failed brake discs or pads on any of the 4 tyres. To help sell your car and avoid suspicions we suggest sorting out the MOT so that the buyer knows the value for money they’re getting.
8. Specification
There are different models to consider when buying a vehicle; a vehicle with greater specs will hold its value for longer and will be greater as a long term investment.
9. Saleability
The Saleability of a vehicle is the ability for it to be easily sold. Factors can include engine size and transmission type (manual v automatic), fuel consumption and type, tax bracket, insurance group, can the vehicle qualify as Ultra Low Emission Zone. Although these factors may tick all boxes for one it may not for others, meaning the vehicle could be hard to sell unless it was offered for the right price.
10. Vehicle Colour
The colour of a vehicle can majorly affect the re-sale price of a vehicle, Certain coloured cars have much less of an appeal to the general public.
Conclusion
To understand how much your car is worth, a full vehicle appraisal will have to be undertaken. This may seem daunting but to a dealer, this is an everyday scenario, from an appraisal a true value of you car can be given. Click on over to this sell my car link if you are looking for an estimation. For greater clarity, we offer 3 different valuations pertaining to the various factors described above, and how they should be taken into consideration in affecting the price.
