The Value of a Used Car: Why Should You Care?
As an analogy, consider a plate of food, the moment the food on the plate has been eaten it will henceforth be referred to as a ‘dirty plate', same could be applicable to cars, at one time they were new and shiny, as they travel down through time, tear and wear, accidents and possibly improvement in technology may make the car old and outdated.
This however may not be the case for some cars, especially for some old cars, so what determines the value of an old car? There are cars whose value increases with an increase in time. These are known as classic cars or collectibles, just like ancient artifacts classic cars appreciate their value, one of the reasons being their scarcity and quality. So when considering car value, keep in mind that classic cars, though they may be old, may likely have a high valuation as to a modern car. But the question of what determines the value of an old car still remains, some old cars have a certain value due to the level of importance the owner attached to it, for example, a young man who lives in California said: “This car is quite precious to me, it is my grandfather's car and I will never sell it”. In this case, this owner attaches a high value to this car.
Detailed Vehicle History now provides support for used classic vehicles and modern cars providing vehicle history reports for both,vehicle history report is a powerful decision-making tool that is now helping millions around the world to make data-driven decisions during trade-ins, buying and selling of used cars. So why should you care? You may be buying or selling a used vehicle in the nearest future,
According to Ally Financial nearly 70 percent of Americans (69%) would be likely to consider a used vehicle for their next auto purchase, the report went further to say that 40% of those who currently owned a used vehicle were enticed by that particular make/model, while others (61%) felt it was less expensive going for a new car, while the business minded buyers claim they were able to get more car for their money (34%), the point is: more and more persons are developing interest in a used vehicle, and so can you, hence there is need to know if a vehicle really worth the price tag attached to it.
Joses Peter
