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September 14, 2007, Newsletter Issue #107: Factors Affecting Used Car Pricing
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Tip of the Week
Before you shop, make sure you understand the many factors that affect used car pricing. A car with a lot of physical and mechanical wear and tear won't fetch as much as a car of the same make, model, and year that is in pristine condition. Cars with lower mileage for their age sell for more than those with higher mileage.
Other things that affect used car pricing include installed optional equipment and where you live. If you live in a metropolitan area with a high demand for a particular car, you could find a better deal by traveling outside of the market to find your car.
If you are in the market for a new car and plan to sell your old car, you may want to take the extra time to sell it privately. Used car trade-in values are considerably lower than what you will likely get selling the car privately.
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