How to Know the Purchase Value of Your Vehicle?

Knowing the value of your vehicle is particularly important when you want to sell it. Indeed, it prevents you from wasting time by offering a price that is too high or from not getting the most out of your transaction!

Discover the main criteria that affect the resale value of your vehicle and how to get the right price online or at your dealership.

Model Depreciation

We all know that the year of the vehicle has a significant impact on its resale value: the newer the vehicle, the less depreciation it will have suffered.

However, there are two things you should know: The first is that the greatest depreciation occurs in the early years, so there will be a greater difference in value between the same model in 2021 and 2020 than between 2014 and 2015 models.

The second thing to know is that depreciation varies depending on the brand and class of the car. A pickup truck will lose a smaller percentage of its value per year than an electric car, for example.

Is Nissan a good brand? Based on ALG data, Nissan models like the Maxima rank among the highest in residual value. So, in terms of resale value, Nissans are good cars.

Of course, the year and the model are not the only important factors that play on the residual value of a vehicle.

Other Criteria to Consider When Determining the Value of a Vehicle

Another factor that everyone thinks about is mileage. Indeed, the more a vehicle has been driven, the less it will be valued. On the other hand, it is important to know that the criteria that determine the value evolve over time. According to the recent remarks of the Guide de l’auto:

Some factors now have less influence on value. For example, high mileage is no longer viewed as negatively as it was in years past.

In fact, used vehicles are more valuable in today’s market because of the semiconductor shortages that affect new vehicles. So, it’s a great time to get a good price on your car!

Three other factors have a major importance in determining its value:

  • Its general condition
  • Its options and equipment
  • Its color

Of course, a well-maintained car will sell for a much higher price than a car that has missed recalls. If you’ve been rigorous, that’s good news for your wallet!

If your vehicle includes options like leather seats, a sunroof or a high-end audio system, these are also factors that will make it more valuable.

A slightly lesser-known criteria is color. Consumers tend to favor neutral colors like black, white, silver. Pink, green, orange or any other flashy color loses more value.

person looking at their phone to know their vehicle's purchase value in quebec region

Using Online Tools

If you want to sell your vehicle yourself, there are several online tools that allow you to calculate its value. To do this, however, you’ll need to consider all the important details, not just the name and year of your model.

Pay attention to the actual condition of your vehicle: does it have dents and scratches or untreated rust? Have you ever neglected maintenance? Be transparent with yourself - and with your potential buyers - to set the right price and make the sale easier.

Of course, you can also compare the price offered on different platforms for the model you own to get a clearer idea.

Sell My Car to the Dealer

If determining the value and then selling your vehicle yourself is sometimes tricky and time-consuming, finding a trusted dealer to buy your car may be your best option.

Nissan Charlevoix is a dealer you can trust: with our team, you’re sure to get the right price for your car! You don’t have a Nissan? No problem: we accept models of all brands to offer a wide variety of options to our customers.

In fact, you will be able to find your car yourself and trade it in from a wide range of vehicles. Whether you’re looking for a new Nissan or any other used model, find what you need at your dealership in La Malbaie, near Clermont. Our professionals are available to help you!

learn more about the purchase value of your vehicle nissan rogue seen from home on the street in charlevoix

Posted in , On Jun 20, 2022