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What Impacts my Car’s Value in Southern Ontario?

What Impacts my Car’s Value in Southern Ontario?

Knowing your car’s value should be top priority when deciding to sell your car.  Knowing the factors that impact value will help you determine what to expect in an offer.

 

Mileage

 

It seems like an obvious one, but mileage is the biggest thing that affects value in a vehicle.  Chances are that a car that has 100,000 Km on it won’t garner nearly as much attention as one from the same year with 30,000 Km.

 

The more miles on the car, the more wear and tear.  That’s just a simple fact of car ownership.  If your car does have high mileage but you’ve been maintaining it well, make sure you can show that to potential buyers.

 

Condition

 

This is more subjective than the cold hard fact of how many kilometers are on the vehicle.  If your car is reliable and has never been in an accident, but has a couple of paint scratches, you’d say that car is in great condition.  Any dents or equipment that doesn’t work will bring down the value, so make sure you take a good honest look at the state of your car before you commit to listing it.

 

Location

 

Some vehicles do well everywhere: mid-range family sedans for example.  If you’re trying to unload a convertible or a sports car, you may want to consider where you live before determining the price.  Here in Southern Ontario a convertible is out of commission for half the year because of weather.  On the other hand, you’d probably have no problem selling your SUV or four-wheel drive truck.

 

Options

 

There are some options that can add value when they are present, and some that take away value when they aren’t.  Features like air conditioning and power windows and door locks are so common now that if you’re car doesn’t have them, it can hurt your re-sale value.

 

A premium factory stereo system or leather interior will add to your car’s overall value.  However, too much customization or personalization can lower it.  Overly tinted windows, oversized wheels or spoilers won’t do anything for you in the used car sales market.

 

The most important factors in determining value are mileage and condition.  Use those as your benchmark and consider the rest after that.  Next step?  Book an appraisal with us to get a top-dollar offer from one of our helpful associates.

 

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