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uying a new car is a venture that many people out there today cannot afford to go into due to the financial implications that come with doing so. The alternative for people who are in desperate need of some wheels is purchasing a used car. The big question of how are used car values determined pops up at this stage. There are arguably quite a number of factors that go into the determination of the value of a used car. Let us look at a few.
Age
This refers to how long the vehicle has been in existence. The year of manufacturing is what to look at in this case. A vehicle may be old but this does not mean that it is not in good shape. There are so many old cars out there that still look and feel brand new. Older cars generally attract a lower price tag so be on the lookout for old cars that are still in good working condition.
Mileage
Now this is a very important factor to consider when determining the value of a used car. Mileage refers to the distance the subject vehicle has covered since it hit the road. The amount of wear and tear the vehicle has been subjected to can be reflected in the number of miles or kilometers it has covered over the years. Higher mileage counts make a vehicle cheaper and more likely to give a new owner some problems here and there. This is not always the case as some car owners do know how to take care of their vehicles throughout the years.
Make and model
The make and model of car are other factors that you can choose to consider when determining the value of a car. If want a specific model or make of a used car then you should definitely take a careful look into this.
Finally, the condition of a used car is an obvious factor to look at. And that is how you determine used car values in today's automobile market.
[Photo: flickr.com]
