How to buy a used car without losing a lot of money
If you want to buy a used car, you must also determine your needs and budget, and calculate how not to lose much when you need to resell it.
Don't rush into paying for a car that is too new or beautiful, because you will regret it later because you didn't use it for its original purpose.
3 most accurate criteria for pricing used cars
Used car pricing is often considered through 3 criteria:
Car life cycle
The model year of a car shows what year it was made, how much it cost, and how much wear and tear it has. The price of a car will decrease over time, starting with the year it was made.
For example, a new 2018 Vios costs 500 million VND, after 3 years of use, its value is only 350 million VND (the depreciated value is 70% of the purchase value, meaning: 70% * 500 million = 350 million).
Vehicle quality
When buying a used car, people often consider factors such as: mileage, year of manufacture, make and model, exterior and interior appearance, engine and transmission, spare parts and maintenance, papers and license plates, price and negotiation. These factors will affect the "quality" of the used car that people want to buy.
For example, a used car with low mileage, recent year of manufacture, reputable brand and model, nice and clean appearance, good engine and transmission, full spare parts and maintenance, valid papers and license plate, reasonable price and negotiable can be considered to have high "car quality".
On the contrary, a used car with high mileage, old year of manufacture, poor quality brand and model, bad and dirty appearance, engine and transmission problems, missing parts and maintenance, unclear papers and license plate, high price and difficult to negotiate can be considered to have low “car quality”.
Car liquidity
Liquidity is understood as the popularity of a certain car model on the market, ensuring the ability to buy and resell, and usually used cars with high liquidity will not lose too much value when resold.
Buying a used car with high liquidity will cost more, but it also means that when you sell it, you won't be forced to sell it for too much.
On the contrary, a car model with low liquidity or not popular in the market will be sold at a cheap price but will be difficult to sell and when resold, the price will drop a lot.
Some factors affecting the price of used cars
Besides the car brand, model, registration time, mileage, and condition, the following factors also affect the resale price.
Vehicle color: Depending on demand and market trends, some colors will be easy to resell such as black, silver, white. Prominent colors such as red, yellow, blue, although difficult to resell, are also easy to get a good price if you find the right buyer.
Additional features on the car: If your car is equipped with more valuable features that will support the future owner better than other original cars, the price can be increased. Additional features can be calculated as dash cam, rear camera, leather seats, car lights, sound system...
Maintenance, timely maintenance, full service invoice: Vehicles that have been maintained, inspected and damaged parts replaced before resale will have more value.
