Buying an used car can make people get in to situations either by getting the value they pay or paid less amount and getting cheated. Knowing the right cost of an used car is a difficult thing to estimate. Many factors have to be considered before making the final value. In this article few factors which are to be considered while for determining the rate of an used car are mentioned.

Frequency of its repair:

  • Any damage to the car reduces its value and people expect to pay higher cost for the vehicle which has never been damaged than in selecting the car which has been repaired over and over.
  • Damage knocks out the things inside the vehicle which either may alter the chassis shape where it cannot be brought back to the normal position again.
  • Hence the number of times car has been damaged and repaired makes an important factors while estimating the cost of used cars.

Exterior and interior condition of the car:

  • The condition of the car both under the hood and over the hood plays an important role while estimating the price.
  • Exterior paint, seats condition, working condition of the engine all make an important things to be considered.
  • Also ensure that the spare parts of the used car are available in the market or not before buying it.
  • Cars with better condition fetch more prices than the one which is not in a proper condition.
  • In order to get more prices the vehicle should no have minimal dents and scratches.

Mileage of the vehicle:

    • It plays a major and important deciding factor while estimating the used car’s value.
    • If the car has been driven more in a short time it shows that its been in to greater extent of wear and tear and obviously leads to lower price.
    • Used cars which have not been driven for more distance will have higher price.
    • By using odometer or on board diagnostic scanner II one can check the actual mileage of the car.

Modifications and extras:

  • Few vehicles have modifications done after market which either may have the positive or negative impact on the vehicle’s cost.
  • Vehicles which are modified or upgraded require special evaluation for making the right value.

Following are three steps for pricing an used car:
1. Gathering information about the car

  • Year, make, model and trim level.
  • Current mileage
  • Condition of your car
  • Maintenance and repairs completed since you’ve owned the car

2. Research Local Used Car Values

  • Research used car prices for similar cars in your area.

3. Determine Your car’s Price

By looking at the above information one can easily make out what factors have to considered while pricing an used car.