A car is a very essential part of each and every person’s life. This is because it has become a necessity. People are not able to live without a car because communication and transport are very essential if the person is to travel from one place to another, especially for work. As a car becomes a necessity, people are always trying to upgrade their car and try to get a new car. Getting a new car is easy, but disposing of the old car for a good price to make the down payment of a new car is more difficult. So each person who is trying to sell an old car is always trying to assess and find out how much is my car worth.
There are various factors that determine how much the car is worth. The first thing that determines the worth of the car is the age of the car. The number of years that have crossed since the purchase of a car is very important factor that determines the cars worth. The older the car, the lower the price, unless the car is a vintage car. As a car gets older, the repairs in the car increases and the worth of the car become less. Each year the worth of the car decreases by approximately 10% at least in the first few years after the purchase of the car.
Another important factor that determines the cars worth is the mileage that the car offers. The lower the mileage, the lesser is the car worth. This is because of the increased expenditure in the maintenance of the car that will occur to the individual who buys the car. The number of accidents that the car has been involved in will also decrease the worth of the car. This is because when the car has been involved in any accident, then the car may have a lot of dents and also the person may have to pay a larger tax for the car. This can make the car worth decrease a lot.
Even the paint of a car determines the worth of a car. Cars that have pains that can show even small scratches on it will decrease the worth of the car. On the other hand, a light colored car that has paint that may not really show the scratches too much will have more value. These are some of the important factors that determine what the car is worth.