A used vehicle might have a very high value. Many classic vehicles are worth much more on the used market than they were when new. Most vehicles, though, decrease in value over time. Whether you are shopping for a used vehicle or just wonder how much yours might be worth, the following factors will help you to understand how a car's value is determined.

Mileage and Mechanical Condition

Vehicles built these days mostly enjoy a long service life that often reaches 200,000 miles or more. The more miles on a vehicle, the less its value is due to the effects on the motor, chassis, and other mechanical components. Electrical components often fail over time, such as cruise control, power windows, and other items. Sensors also could fail, so mileage and mechanical condition weigh heavily on a vehicle's value.

Paint and Auto Body Condition

According to the National Automobile Dealers Association, paint condition is one of the top factors for determining a vehicle's value. A vehicle that has good paint, no dents or scratches, and looks relatively new always is worth more than a similar vehicle with a rough body, rust, and scratches. A good auto body shop can help to restore the body and paint, which can significantly increase a vehicle's value.

Interior Amenities and Condition

After assessing the auto body and paint condition, you need to look inside the vehicle to see how the interior is holding up. Leather seats that are in good condition always increase value. The same can be said of various amenities, including premium audio, technological support, and power windows and seats.

Vehicle Popularity

The more popular a particular make and model is, the higher its value will be on the used market. For example, a Ford Mustang that is in good shape would be worth more than a Ford Fiesta that is in a similar condition. Vehicle popularity always affects its value.

Assessing the combination of auto body condition, mechanical condition, and the interior's condition helps to determine whether a vehicle has any good service life left. When that vehicle is in good condition and a popular model that is in high demand on the used market, its value is greater than one that is not as popular or in as good a condition. If you need help restoring your vehicle, call Reilly's Auto Body.