How to determine the true value of a used vehicle
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Jan 01, 2017  |  Vote 0    0

How to determine the true value of a used vehicle

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Etobicoke Guardian

The experts at Morton Motors in Etobicoke want to share some information on determining the value of a used vehicle before you make a purchase.

This way, whether you are considering purchasing from a private seller or a dealership, you will be completely satisfied with your purchase and, more important, avoid buying a lemon that will drain your wallet with constant, costly repairs.

Determining a vehicle’s current cash value is dependent on several factors, including age, mileage, the vehicle’s overall condition and any optional equipment.

If you are considering buying a used vehicle from a private seller, you will have to know exactly what you are looking for under the hood and on the body of the vehicle to determine if it is in optimal working order. Otherwise, you’ll want to bring someone with you who does know.

While you may be able to purchase a used vehicle for less money from a private seller, if you find a reputable, accredited dealership, you may spend a bit more on the purchase price but will save in the long run. A good dealership like Morton Motors will not sell you a lemon and risk getting a reputation for dishonest business practices.

Another important step in finding a used vehicle’s true value is finding out its book value. Check out online used car pricing guides to find out the vehicle’s retail value, and then factor in things such as age and mileage. Most websites will give you an adjusted price based on these factors.

If you are interested in a particular make and model, these websites can also help you to price match. Knowing what price others are selling the vehicle for can help you when you are negotiating the price at a dealership.  

For any used vehicle, make sure to look into its history reports. There are various services to do so — including AutoCheck®, Carfax® and Carproof® — that will shed light on the history of any vehicle. Using the VIN number, these sites will disclose the vehicle’s accident history, damage the seller may not be disclosing, if the engine was refurbished, and any odometer rollbacks.

Most important, there are several automotive guide websites such as VMR that provide information about the vehicle you are interested in, and if it has had any safety recalls from the manufacturer.

If your want a quality used vehicle from people who put customer satisfaction and service first, call Morton Motors at 416-234-0061, or visit them at 39 Chauncey Avenue today! You can also visit their Facebook page for the latest news.

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