If you’re looking to trade in your current vehicle, it’s important to get an estimate of what it’s worth before you take it to a dealer. Knowing the value of your used car can help you avoid dealer scams and get the most out of your investment. Here are five factors to take into consideration when self-valuing your used vehicle.

5 Metrics That Influence Your Car’s Value

1. Age

The older your car is, the less it will be worth when you trade it in. A vehicle starts depreciating the second you drive it off the lot and continues to lose value every year. Unfortunately, only classic cars increase in value with age.

2. Mileage

The more mileage your car has, the less someone will be willing to pay for it. A vehicle with high mileage is more likely to experience mechanical problems or break down completely. Keep in mind that “high mileage” is a relative term, and cars have different rates of mileage depreciation. You should always check what the average total is for your vehicle’s make, model, and year.

3. Condition​​​​​​

The internal and external conditions of your vehicle influence its trade-in value too. Minor dents and scratches are unavoidable with age, but each one reduces the value of your car. Regularly washing your car and repairing minor paint or body damages can help it fetch a higher trade-in price.

4. Accident History

If your vehicle has been in an accident, it will be worth significantly less when you trade it in, even if you have fully repaired it. Buyers are much more hesitant to purchase a car with an accident history because secondary problems can arise from the accident in the future. Even a minor fender bender can cause alignment issues years later.

5. Area Market Value

Cars have more or less value depending on their supply and demand in the area. If your car’s make and model is popular in your area, chances are it will be worth more. However, if it’s not in demand, you may have trouble getting the price you think it’s worth. 

If you’re looking for a reliable car dealership that offers a wide selection of new and pre-owned vehicles, visit KIA Country of Savannah. Their expert team has been “doing business the right way” in the Savannah, GA, area since 1953. They also have an online trade-in tab for estimating the value of your used vehicle. Visit their website or call (912) 335-4176 for more information.