What Can Affect the Resale Price of a Used Car?

If you’ve been considering selling your used car in Ireland, it’s a fair assumption to make, that the first consideration you’ve had is about the value of your car and how much money you could possibly sell the vehicle for.

There so many factors affecting market value of cars in Ireland currently, that will have a bearing on how much cash you could potentially receive for selling a car.

Have you ever asked yourself the question, ‘what affects the value of my used car? Well typically, the age, mileage and condition will play the biggest part in any resale value. But there are several other factors that you should pay attention to as well to ensure the best possible returns. Elements such as brand and model type, service history and specifications.

Read on through this straight forward guide that we have put together to help you benefit the most from the process of selling. Used Car Buyer is on hand to help you maximise the value of your car, giving you sound advice on what can factors affect the value and ultimately how to prepare the vehicle for sale.

Factors Affecting Resale Value Of Cars in Ireland

Vehicle Make & Model

We all know that the brand of vehicle is one of the biggest factors in determining the value of your car. With the wealth of car manufacturers from budget through to premium brands, there is undoubtedly price differences that will have a bearing on the residual value of the vehicle.

Add to that cases where specific model variants are extremely popular or for example vintage models that are rare can also affect resale values when you are trying to sell. In some cases the value of older, sought after used cars can actually increase.

Car Age

The value of your car is likely to be higher the newer it is. Older used cars will depreciate in price at a faster rate, typically in combination with higher mileages and deterioration in internal and external condition and usage.

There are situations where old cars may hold a higher value, especially if they are classed as a premium brand, vintage model or have been kept in good running order and condition, with low mileage.

Current Mileage

Usually cars with higher mileage will have a reduced value on the basis that they have been used more and likely to experience wear and tear that could be costly to repair for any future owner.
Lower than average mileage cars will retain their residual value and be more attractive to potential buyers.
The leading car market value guides detail expected mileage levels for different aged vehicles, enabling you to get a good idea of whether your car is either high, low or average.

General Bodywork & Interior Condition

It is natural to assume that cars that are in better working order and in good general condition, both externally and internally will fetch a higher price when you trying to sell. Minor scuffs or windscreen chips can be easily and quickly rectified to ensure you maximise the value left in the car.
A car that is looking tired or uncared for will not attract buyers, so take the time and effort to make the vehicle look as good as possible if you want to achieve a higher selling price.

Service History

Having a full service history will demonstrate to any future buyer that a used car has been maintained and regularly serviced to the multi-point standards set by the manufacturers.
It also demonstrates that service works such as cam belt changes, brake replacements, oil and lubricant changes have been carried out and the vehicle is in good running order and thus enhancing the value over any similar vehicle that hasn’t undergone a regular inspection and service.
A lack of servicing shows a lack of care which could affect resale values.

Vehicle Specifications

Used Cars that have excellent specification levels are more attractive to buyers than base model designs. Whether it be bigger engines, air conditioning, cruise control or driver and passenger safety upgrades, a vehicle with a higher specification and add-ons will be worth more as these extras can increase both performance and comfort level.
However, if you do own a base model, don’t despair, if you have kept the vehicle in good condition, have it serviced regularly and it has low or average mileage, the values will still be better.

Market Conditions

Be careful with your timing when choosing to sell your used car and limit the risk associated. Make sure you are aware of the external factors that may affect the value of a vehicle. Supply issues, regulatory changes including fuel types, vehicle taxation and local market conditions in Ireland.
It was widely reported that issues over the supply of some electronic component parts used in new cars causing extended delivery delays. In turn, this stimulated the used cars market and subsequently created situation where selling prices were higher than usual.

Conclusion

Everyone knows that selling your car can be a stressful situation that can leave you feeling hassled and potentially disappointed if you don’t achieve the outcome that you were hoping for.

If you have asked yourself the question ‘what influences the price of my car in Ireland?’, this guide should give you a good heads up of what factors can affect resale value. No doubt you will want to sell your car for the highest amount possible. So, give plenty of consideration to these points and carry out your research fully and you should be in a good position to negotiate the best price possible.

If you are looking to sell your car for cash and you have considered all of the above factors but you’re still not sure how much your car might be worth right now, why not request a quote now.