For dealing in used cars, irrespective of your standpoint whether you are a buyer or a seller, it is important to come to terms with the nitty- gritty of used cars. One of the leading back envelope calculations in respect of used cars relate to the prospect of evaluation. Neither will buyers choose to break their bank nor will sellers break their back while dealing in used cars. So it is important to know the optimum price limit along with factors deciding the value of a used car.
You may be one of the owners willing to part with your used car, or you may also be a professional dealer facilitating the transactions of used cars. But in both the cases it is of paramount significance that you get down to brass tacks in order to come up with a suitable price tag. The market usability of the pertinent brand, its generic conditions & maneuvering facilities are some of the fundamental yardsticks influencing the price of a used car.
Mechanical features and their role in the pricing of used cars
The mechanical facets of a used four wheeler including the issues of mileage, age, fuel economy, service record, track record and condition of its electrically or electronically maneuvered units will have an overall bearing on the price of a used car. Moreover, its stability, usability matching its claimed age and expectancy of mileage are there to influence its selling price as well. Pertinent conditions of transmission, cooling facilities other than that of its engine, chassis and tires are equally influential in deciding the price of a used car. Used cars are always sold at depreciated value but if any of its electrical or electronic components are non functional, it does adversely affect the price limit.
Experience - another yardstick of measurement in respect of a used car
Some of the professional dealers transacting the sale, resale and purchase of used cars are experienced enough to gauge and understand the value of a particular used model. This set of professionals cash in on their prolonged exposure to the automotive market to comprehend and determine the feasible price of a used car.
There is a price guide to determine the value of used cars
The mentioned guide has different parameters for determining the price of used cars. One such interesting parameters relates to the relevance of the buying source. While dealers facilitating the sale of used cars will go by the parameters of mileage, fuel efficiency and the overall conditions while determining the price of used cars; an individual seller is likely to have the same sold at a reduced price. There is a hind side to it as well. Dealers by way of the markup price may be better oriented towards earning profit. But dealers usually add to the value of used cars by way of planned investment in repair and overhauling. So, precious bits of innovation and value additions are there to be counted upon as well; while deciding the price/value of used cars. In fact, quite a few automobile companies are guided by the aforementioned factors in respect of pricing the used cars for sale.
Popularity of the model to be sold
Desirability of the used car model together with its contextual popularity is going to influence its ultimate evaluation. Obviously a model out of tune with the current statements of the auto market will not yield a profitable bargain as much as those which are in use.
Some of the rare and sought after car models can make for a profitable bargain
In spite, of being out of tune with the generic market trends certain models of cars are more sought after than others. Some of these rare models are perfectly appealing to connoisseurs with their fad for cars of different varieties. So bearing in mind these specialized buyers- rarity of models, their stylish specifications not only adds to the desirability of such unique types; but are also taken into view with regard to their price specifications.
Stock profiling /market research as to the relative relevance of respective used car models
In course of selling used cars, the prospect of similarity is also called into being. Market research is carried out to judge the price viability of others of the same kind. Likewise by means of stock profiling efforts are made to find out how many similar models have been sold. The researched input is ultimately used to determine the price of the used cars.
Importance of location & installation of specialized feature- factors of price determination
Topography of a particular place accounts for the popularity of a certain model over others of different kinds. This in turn has its ramification on the pricing of a given car model. Hilly place with its orientation towards all wheel drive, SUVs and all terrain vehicles will obviously attract better resale value for these rather than their sleek and suave counterparts.