Important Factors Affecting Used Car Prices

Used car prices are affected by a number of factors. When shopping for a secondhand car, you need to look past the car’s year of manufacture and model and consider its history, performance, and condition. If you don’t, you could end up with a car that looks great but isn’t useful for anything else.

Car History
The easiest and most reliable way to determine the appropriate value of a used car is by checking its history with the DMV. Ask for a VIN (vehicle identification number) history report for about $30; it will tell you if the car has been involved in any undesirable incident in the past. You’ll also find out if the car has undergone any serious repair of any sort.

Exterior Condition
Next, consider its exterior. Does any part of the car seem to have been repainted? Are the panels misaligned? Do its doors seem to suffer from an imperfect fit? Are there any rusty spots? How about trailer hinges? All these are indicators of a car with a fairly eventful history and if they’re present, you’re better off looking for another candidate.

Performance
Start with the engine and odometer. If you know your way with cars then it’s fairly easy to determine if something’s not right with either. Be particularly vigilant against odometer fraud: even electric odometers can be “modified” nowadays to display a deceptively lower mileage.

You’ll have a harder time determining problems with transmission and brakes. If possible, have a professional look into this for you. And since these guys are often paid by the hour, consider having them give the car an overall checkup. Better safe than sorry, right?

Price Range
A budget of $2,000 or lower could still get you a car, but you’re most likely to end up with a secondhand car that’s only capable of transporting you to and fro short distances. Anywhere farther than that means driving with a severe liability.

For a budget of $5,000 to $9,000, you could get a fairly old car but in good working condition. Take note that ‘could’ is in the operative because you need to be patient with your search: such cars as often snapped up as soon as they show up in the market.

Now, if you have a budget of $10,000 and up then it’s very possible to find a car that’s no more than 5 years old. Of course, don’t expect to end up with a luxury car. If you want something like that, you’ll need to save a little bit more.