Top Factors that Affect the Price of a Used Vehicle

When looking to purchase or lease a used vehicle, the listed value is calculated based on a few different key factors. Learning a little bit about car values and what would increase or decrease the cost can help you become a better informed buyer or lessee and select a model that is right for your needs.

In addition to the make and model, determining the cost of a used vehicle is based on two primary factors: the year and mileage. The older the vehicle and the higher the mileage, the less the used vehicle is worth. With these details in hand, the base value of the used car can be easily calculated, using online calculators that determine the fair market price.

Once the base rate is calculated, a few other factors are taken into consideration: vehicle history, ownership history, vehicle condition and maintenance schedule, along with add-ons which might add value, such as a leather interior or sunroof. Popular models and colours can also affect the end price of a used vehicle, as those which are in higher demand will be able to capture a better price.

If you’re still looking for more information about used car leasing or used vehicle prices, click here to learn the one tip that will save you lots of money on the car lot.