What Factors Affect Used Vehicle Value

The first step to determining your used car's value is to assess what condition it is in and whether it has certain attractive resale attributes. The factors that influence the price of a used car include:

Vehicle Mileage and Age

The manufacturing year and total mileage of your car have a significant effect on its overall value; generally speaking, the older your vehicle and the further it has been driven, the lower value it has. A car with a high mileage necessitates a higher level of maintenance, and older vehicles can often be harder to repair due to the availability of parts.

Car Title 

Your car's title can be an invaluable piece of information when it comes to determining overall value. There are dozens of different car titles, all with different implications when it comes to worth and desirability. These include:

• Clean Title: Cars with a clean title will carry higher costs because they tend to be in the best condition. A clean title indicates the car has never been declared a total loss by an insurance organization. These cars tend to need less maintenance and have a longer usable remaining lifespan.
• Antique/Classic Title: The only title that may fetch a higher price than clean is an antique or classic title. These cars tend to be older (at least 20 years old) but may have historical value. Collectors will usually pay a higher price to take ownership of these vehicles, though maintenance can be difficult due to their age.
• Salvage Title: A car that has lost more than 75% of its original value due to wear-and-tear or damage will be given a salvage title. These titles harm a car's value significantly, and while the vehicle may be drivable, it will certainly be in a far less functional condition than clean title cars.
• Rebuilt Title: Sometimes referred to as a reconstructed title, rebuilt title cars have been repaired to meet certain driving criteria. After repairs are complete these vehicles are inspected and declared rebuilt by an insurance company, usually increasing their resale value by a notable amount.
• Water Damage Title: Vehicles that have experienced damage due to natural disasters like hurricanes or flooding will be given a special water damage title. Also known as a flood title, these indicate that a certain level of water damage has been inflicted on the car and it requires a large number of repairs.
• Odometer Rollback Title: Odometer rollback cars have been the victim of a scam known as odometer rollback, in which scammers will intentionally tamper with an odometer to change the mileage of the vehicle. This is done to artificially increase the resale value but once discovered will actually do the exact opposite. Cars with this title are very difficult to resale due to the difficulty associated with finding the true mileage.
   

Demand for that Vehicle

There are many components of a car that define its demand, namely its color, brand, make, and model. If your car is silver, white, or black, it's usually easier to sell for a high price. Vehicles from reputable brands also have higher resale value, with the specific make and model further informing your car's overall worth. If that make and model are in particularly high demand, you may even be able to sell the car for more than you purchased it for.

The Condition of the Car

Besides the age and mileage, the car's condition is the most important factor when it comes to its value. It can be classified into one of four categories:

• Poor Condition: The lowest tier of the condition chart, a car in poor working order usually suffers from a diverse array of issues. Expect a car in poor condition to have rust damage, mechanical issues, flooding, a bad title, or a complete inability to operate. These cars tend to have very little value, and aren't recommended for purchase. If you do buy a car in poor condition, you can usually count on spending much more to get it in proper working order.
• Fair Condition: While in slightly better shape than a poor car, vehicles in this condition still have their "fair" share of problems. Visual flaws are common, with damage to the interior upholstery and exterior paint being two frequent issues. One large distinction between a poor and fair car is the ability to repair issues with the internal mechanics. A "fair" car has to be possible to fix, while a "poor" car may only be good for scrap.
• Good Condition: For a car to qualify for the "good" category it needs to be in proper working order with no major internal issues. Any problems with the car's internal mechanics should be easy to fix, and the external damage should be cosmetic at most. The interior of the car should also be in above-average shape, with all instruments and electronics functioning correctly.
• Excellent Condition: The best condition a car can be in, vehicle's in the excellent "excellent" category should be in nearly, if not exactly, the same shape they were when they rolled off the lot. Maximum drivability, zero required repairs, and no interior or exterior damage are usually the requirements to have a car classified as "good".

Finding out the value of your car is usually done with research tools like GoodCar's residual value calculator, pricing guides, and vehicle history reports. Vehicle history reports are usually your best option due to their ability to provide all the information you need to determine your used car's value, like:

• Title Records
• Junk/Salvage Records
• Insurer "Total Loss" Records
• Pricing
• Sales History
• Problem Checks
• Auto Specs
• Location History
• NHTSA Crash Test Ratings
• NHTSA Recalls
• Awards and Accolades
• Manufacturer Information

If you are looking to purchase a car, try out GoodCar's lease calculator and GoodCar's loan calculator. These tools help you to determine what your monthly payments will be before you finalize your terms, giving you more power to negotiate the best deal possible.