Calculate Your Car Ownership And Resale Value Before Buying

author image Thursday 31 July 2014, 17:30 PM Auto Guides

If you are planning to buy a used car in the near future, then you should pay attention to a few points without any failure. Ownership and car resale value play a vital role at the time of trading old cars; therefore, it's necessary for you to understand these concepts to experience a fair trade-

Calculate your car ownership and resale value before buying a used car
Calculate your car ownership and resale value before buying a used car

It's always recommended to take into consideration various tips that are prescribed in car buying guide. You can get this guide from any dealer or any of your friend or relative if he has a good knowledge of purchase and sale transactions of car. Whenever you decide to buy a car, and then make sure you do a fair car valuation. At the time of valuation of the car, take into consideration car ownership costs also which is nothing but the daily cost of car. For example, if a car runs 100 Km per day within the city, then on the basis of petrol or diesel or CNG, it’s per 100 Km cost varies, so does the ownership cost.

Other than ownership cost, you should also pay attention to the frequency with which the car required service and how much money does the current owner of the car spend on maintenance on a monthly basis. There are many cars that require a lot higher running cost than others i.e. petrol versions and diesel versions. All of these factors affect resale value of cars, for example, the lesser running cost, the more car resale value and visa viz.

One more thing which impacts car valuation is but the history of accidents of car. The higher is the number of times it has indulged in accidents, the lesser will be the car resale value. The main reason behind this inverse relationship is due to increased insurance premiums and maintenance cost. Normally the insurance premiums of such cars which have a history in regard with accidents are higher than the normal cars because probability of occurring the same thing in the future of these cars is higher than the normal cars.

When you decide to buy a used car, check the regular servicing cost of the car. Maintenance cost of a car adds a lot of pressure on the owner; therefore, it's always recommended to keep it in mind at the time of buying an old car.  Maintenance cost and car valuation both are inversely proportional to each other.

Due to increased use of social media, you can refer several sites which provide useful information about resale value of cars. The information that you get on these sites can help you a lot at the time of any such used car purchase transaction. Apart from these websites, there are endless number of consultants and car dealers available in the market, hence you can take their services to experience a fair trade. Although you have to pay a little more than the actual resale value of cars if you take services of any professional, but you don't have to make any effort from your side because everything is taken care by the respective dealer or consultant. So keep these points in mind at the time of purchase transaction to have a nice experience.

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