Buying a used car is certainly a stressful task, but to make it significantly less stressful, we have prepared an overview of 10 things you should pay attention to when buying a used car for the first time.
When buying a used car, we have to pay attention to quite a few details, because each of them can affect the final satisfaction with the purchase. The price can be influenced by factors such as supply and demand, color and even the location of the car. If you have ever bought a used car, you are already well acquainted with the facts that we will touch on in this article, but if this is your ″first″ in the world of used cars, just read what you need to be aware of attentive.
1. Loss of value
Depreciation is a factor that every new car buyer faces. The moment a new car leaves the dealership, it will lose at least 10% of its value. After one year, this percentage already amounts to 20%, and after five years of use, the car will have on average only 40% of its purchase value.
2. Demand
The supply and demand curve plays a big role in the car market, just like in other markets. This is influenced by the popularity of a certain model or brand, and those cars that have interesting features for buyers, represent a limited series, are harder to find, are rare or otherwise stand out from the crowd of cars command a higher price.
3. Kilometers
This is probably the first question every used car buyer asks. The fact of how many kilometers the car has traveled definitely plays an important role in its price. Fewer kilometers driven naturally means less wear and tear on the car, which increases its value on the market. According to statistics, the car should not be driven more than 16,000 kilometers per year if we want to sell it further, at an acceptable price.
4. Condition
A car that is better preserved and visually attractive, both outside and inside, will be more interesting to the buyer. Cleanliness is also one of the factors that should not be neglected in this case. You could even say that the appearance of the car (maintenance, cleanliness) can be more important than the number written on the total mileage. In all probability, a well-maintained car with more mileage will sell sooner than a car with fewer miles, which is less well-maintained or even has some minor technical defect or visual defect.
5. Maintenance
Even more important than the appearance of the car is its maintenance. There are a lot of components on the car that need regular maintenance. Many materials in the car can wear out and it is important to replace them correctly and on time. Worn brake pads, oil leaks and exhaust system wear are just some of the things to look out for. The car's service history or proof of car maintenance can help with the sale.
6. Rust
No one wants the first task when buying a used car to be a difficult rust removal. In order to completely and permanently remove rust, it is only necessary to suppress it at its origin, for which in most cases we will need the help of a mechanic or the services of a tinsmith shop. The easiest way to prevent the formation of rust is to regularly clean the car, especially if we live in an area where the roads are often sprinkled with salt. It is important to take action at the first signs of corrosion, as this is the only way to prevent the spread of rust.
7. The color of the car
Believe it or not, the color of the paint can also affect the selling price of the car. In this case, we are not referring to the quality or preservation of the paint, but to the color of the car itself. It is known that some colors are more popular among people than others, and the rarity of the color, or the color that is typical for a certain car brand, can also add its own value. According to research, white is still the color that will be the most interesting from the sale of a used car.
8. Brand popularity
It's no secret that some car brands are more popular than others or are known to be more durable and reliable. Globally, Toyota cars are considered to be the most reliable and, as a result, retain their value the best. Cars that have a bad reputation among buyers will find it difficult to maintain their value despite the improvements made.
9. Discount
It happens that the seller offers a big discount when selling a new car, but this alone can affect the selling price of a used car. In this case, our car, if we bought it at a big discount, will be worth less when we only sell it. There are also known cases when the brand has reduced its prices on a global level, and with this the value of used cars of this brand has also decreased.
10. Location and weather effects
Even the position where we live or where we use the car can have an impact on its value. If we live in a region with predominantly wet and snowy winter conditions, a car with four-wheel drive will have more value than if the same car were sold in a city with a Mediterranean climate, where there is absolutely no need for four-wheel drive. You would have the opposite situation, for example, in the case of a sports convertible. Also, garaged cars will have more value than those that have been parked outdoors and exposed to the elements.
