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What Car? Valuations data partners: Autotrader
What factors affect a car’s value?
The most important factors that affect the value of a car are age, mileage and condition. Generally speaking the older the car and the higher the mileage, the less it will be worth.
Condition is an important factor, too. Whether you’re selling a car privately, to a dealer or part-exchanging it, the more pristine the car is, the more someone is likely to pay for it. So depending on the value of your car, and the cost of any necessary repairs, it may be worth getting some of the imperfections fixed to ensure you get the best price.
A service history can be hugely valuable, especially if you can show your car has been serviced by a main dealer using original parts. Here, the more history you have, the more your car can be worth, because it shows a potential purchaser it has been cared for.
Some colours are more desirable than others. Silver and greys are perennial favourites, but while some buyers might be willing to pay more for an unusual colour, you might find that dealers will pay less because it could make the car harder for them to sell on.
The amount of equipment your car has can also influence its value. But remember that while some buyers may dig deeper to get a car with a few extra bells and whistles, others won’t.
What factors can decrease a car’s value?
Condition is key, because few people want an old banger. Quite simply, the better your car looks and the more regularly it’s been maintained, the more it will be worth. There are some quick and easy ways of improving the value and saleability of your car: give it a wash and a thorough vacuum. If the value of the car warrants it, get it serviced, and if the time remaining on your MOT is short, get it tested.
Again, if it makes financial sense to do so, address some of the wear and tear items – the dents and scratches or worn tyres that are inevitable as a car gets older – and if you can get any broken parts fixed easily and cheaply, it can be worth doing so.
Little or no service history will put some buyers off, so gather all the paperwork you have for the buyer to see.
The number of previous owners can have a negative impact, too, although there’s little you can do about it, other than seeking comfort in the fact that you probably paid less for the car in the first place.
Modifications can be more complex. Certain models – some sports cars, for example – can be more desirable and valuable with some aftermarket modifications. But big wheels, stickers and bodykits can reduce the value of some other types of models, so you may want to consider removing these extras before sale.
