Factors that determine the value of your car
When appraising your vehicle, these are the factors that will affect the value of your car.
- Age. Typically, the older the car, the lower the value.
- Make and Model. Certain brands and models hold their value more than others. For example, Honda Civics are well known for maintaining their value more than other similar vehicles.
- Trim. Referring to the exact specs on a vehicles engine, standard features, number of doors, colour, and other options, a vehicle's trim plays a large role.
- Options. Certain features of a car will either raise or lower it's value. For example, leather seats are more valuable than standard cloth seats, and power windows are more valuable than manual windows. Other options such as transmission type, navigation options, sunroofs, wheels and tires all factor into a car's overall value.
- Condition. Stains, rust spots, dents, if it has been improperly repaired will all lower the value of the car, but if a car has been well maintained and cared for, that will have a positive effect on the car's value.