The value of a car, just like a house is influenced by a dizzying number of factors. While it is of common knowledge, the basic factors that impact the price of a car, it is important to know the details before buying or selling a used car to avoid scams. You would be surprised how much even the most apparently insignificant factor can add a difference to the price of a car.
So, here’s a bunch of determinants crucial to the value of a car.
1. Body Exterior
No one likes to sit in a car that is not in its proper shape. The exterior of the car is the first thing a potential buyer looks at. This includes the color of the car, the headlights, as well as the sleek and slim body. Any blemish on the exterior would significantly reduce the value for the car, so, having a pristine exterior should be a top priority as it is one of the most vital requirements of the buyer.
The manufacturer undoubtedly plays a massive role in the price value of a car. Looking at Toyota, a company known for making sturdy automotive vehicles, the price value for the car will automatically jump higher despite another variant with the same spec-sheet. The difference in cost is mostly overlooked by how well the company provides aftercare services and its long history of operations in the region.
3. Engine and Transmission
This should not come as a surprise. The engine and transmission are regarded as the soul of the car. Any slight issue with the engine or the car’s transmission would plummet the value. Even if they are in pristine condition, one should keep in mind that the value of the car would still fall if it has a lot of mileage on it. For example, if the car with impeccable upkeep, has registered over 100000 kilometers, the price value will fall. Research has shown that vehicles with approximately 30000 to 40000 registered kilometers get a better value.
The suspension of the car is not only responsible for road handling, but also the smoothness and quality of the cars’ drive. An easier way to understand is that the suspension of a car is what the kneecaps to human beings are. If there is wear and tear on either of them, walking or driving becomes a painful process. Hence if the suspension of the car is not regularly maintained, not only will the price value of the car fall, but driving it might put the driver and others on the road, at risk.
The thing about tyres is that they immediately show how worn out or pristine they are. Be that as it may, good tyres from companies such as Dunlop can be expensive. Hence, tyres that have travelled long distances bring down the value of a car. A worn-out tyre is a matter of serious concern as its longevity becomes unpredictable, it might burst without a warning and cause a serious accident. So, to get a good value, the tyres should be in mint condition, no tear, no pivoting and no stitches.
OLX Pakistan as an online classifieds’ marketplace is providing access to affordable devices to a large population of this country, and playing its role in the digitization of the country.
For more information visit OLX to find a wide range of automobiles and choose the one that best suits your preferences and budget. With thousands of ads posted daily, OLX is the smarter choice.