Top 5 Ways Car Prices are Affected by Vehicle History
Thinking of buying a good used car? Here’s another great group of vehicle suggestions from CarFax regarding judging the value of an used automobile you’re thinking about purchasing. If you’re looking to buy a used car, don’t let car prices confuse you. Learn how vehicle history affects the price of cars in the video above. How Vehicle History Affects Used Car Prices We all know that vehicle history can have a big impact on car prices.
When you’re out shopping for a used car you’ll probably be paying close attention to its vehicle history report. Here are the top five things you should be looking for and how they may impact the price.
#5: Don’t Get Rolled on a Rollback Inconsistent or rolled back odometers are still a big problem – even with cars that have digital odometers. Con men use high-tech equipment to make miles disappear in an attempt to rip off unsuspecting buyers. Beware if you check a car’s history and discover miles may be missing. A typical rollback may artificially inflate the value of the car by as much as four thousand dollars.
#4: Look for a Well Maintained Car When you set out on your used car search you’re probably going to want one that has been well cared for. Finding a well-maintained vehicle has never been easier. Thousands of service shops report things like oil changes and regular maintenance, which is included in a vehicle’s history. A vehicle that has a well-documented service history is worth a whole lot more.
#3: Don’t Get Sunk Water damage is the worst and could be a total deal breaker. We’ve all seen these cars in the news. Flood water invades a car’s mechanical and electrical systems and slowly rots them from the inside out. Even more worryingly, government tests show that airbag systems on these cars may not function properly. Unless you’re willing to take a really big chance, we’d strongly suggest you keep looking.
#2: Dents. Dings. And Other Damage. Not all accidents are created equal. In fact, millions of vehicles are involved in collisions each year. If you’re looking at two cars, you may pay slightly less for and get a good deal on one that’s been involved in an accident. Just make sure, as you would with any car, to get an inspection from a one our trained mechanic prior to purchase. You’ll want to want to make sure the car has been repaired to your satisfaction.
#1: One Owner A one-owner vehicle is the next best thing to buying new. If the previous owner has taken good care of the car, or if it is being sold as a certified pre-owned vehicle, it can be a really good deal. You’ll pay a little more than a car that has multiple owners in its past, but you may get added protection from the original warranties.
In Conclusion Whether you’re buying a car for yourself or your kids, seeing the vehicle’s history is a no brainer. You can see what’s happened in the car’s past and feel more confident about the price you pay. Today it’s even easier to find cars with the history you want. Just look online for a site that lets you search for well maintained, one-owner or no accident reported vehicles.
When the U.S. economy saw large declines in housing prices and a large increase in unemployment rates and gas prices, unsurprisingly the number of cars sales took a drastic hit, as well. The downturn was the worst seen in the auto industry since the times of the Great Depression. Car sales didn’t recover for over six years. Not a single month during that time rose above the amount sold in December 2007. As of March of this year, however, that streak has finally been broken.
In a feature column in the Wall Street Journal racing pioneer Denise McCluggage relates, “Of all the automobiles I’ve owned over my lifetime, I never imagined that for 20 years I would live with a car like the Suzuki Sidekick, or that I would love it so much.” Throughout the years McCluggage has owned an Alfa Romeo, a Porsche, a Jaguar, an MG, and a Ferrari.