How exactly do dealerships come up with their resale prices on used cars? It isn’t as simple as you may think. In fact, there are several factors that dealers must consider when determining prices for used cars. These include:
- Mileage: The greater the mileage, the more likely a car will require repairs sooner rather than later. A car’s resale price goes down if the mileage is high compared to the vehicle’s year.
- Model Year and Make: A particular make’s reliability will raise the vehicle’s resale price as a used car. In addition, newer cars bring in more money on the lot.
- Condition: Used cars in better condition will get a higher resale value. This not only includes the condition of the body but the inner workings as well.