How Age and Mileage Impacts The Price Of Used Cars For Sale

Shopping for used cars for sale in and around Newark, NJ, can be a very challenging experience for many individuals. One of the biggest issues around purchasing used cars is determining a fair price.

Thanks to easy access to a variety of apps, car buyers in and around Newark, NJ, can quickly and easily get information on the typical asking price for a specific make and model of vehicle. This is helpful to get a general overview of what similar vehicles on the market are sold for in your location.

There are several critical factors used in determining a fair price for used cars for sale in Newark, NJ. As a vehicle buyer, understanding how these two factors impact pricing is important when buying from a dealership or purchasing from a private owner. As a general rule, dealerships offer the most competitive pricing as well as financing options, something not available from private sales.

Miles on the Car

Different types of driving are harder on vehicles than others. For example, city driving has lots of stops and starts, while highway driving tends to be longer and without the need for braking and accelerating.

However, when purchasing used cars for sale, it is impossible to determine the type of driving. To address this issue, the higher the mileage the lower the selling price is a good rule to keep in mind.

Age of the Vehicle

Older vehicles, even with low mileage, are less valuable than newer models. They have older features and options and tend to lack the driver-assist, safety, and technology that is standard in new models.

In addition, vehicles that are older tend to have more mechanical problems and a shorter life cycle, reducing their overall value.