One of the most troubling thoughts for any car owner, even immediately after purchasing it at the dealership, is the likely price it will fetch in the market when they resell it. This thought is what determines the care given to a car, among other factors, and eventually, it is time to get rid of it. Every seller is looking for a price that reflects the full value of his or her car. However, setting a price is quite challenging. It is a blend of intuition and research. The right price will get you the full value you are looking for while the wrong price can make you last in the market waiting for a buyer.
We can borrow a leaf from top car resellers Kelly Blue Book, Edmunds and others to determine the factors they consider when determining the value of a pre-owned Mercedes-Benz. These factors include:
A vehicle’s brand could have a significant impact on its resale value, regardless of the condition or the quality of the car. Some cars are known to quickly reduce their value as soon as they leave the dealership, particularly luxury cars. Being a luxury brand that is meant to show style and class, buyers will rarely go for a pre-owned car, and this reduces its resale value greatly.
Performance Parts and Aftermarket Accessories
The accessories that you put in your car such as high-end stereos, supercharger kits, custom rims and other after sales accessories could cost you dearly. Car buyers are concerned about the upkeep costs, the warranty coverage of the accessories or lack of it. Car resellers advise car owners to avoid add-ons, particularly those that adjust safety equipment and the powertrain.
It is obvious that any damage on the exterior of your Mercedes-Benz, however slight, should have a negative effect on the resale value. If you are planning on putting your Mercedes-Benz on the market, it would be good if you got the car professionally washed, had it repainted and repaired all dents or dings, to raise the value of the car. Resellers also suggest removing all bumper stickers.
This is an obvious factor, though worth mentioning. People are likely to take an interest in the car if its interior is clean and well kept. However, untidiness or an unpleasant odor will put off buyers. You could get professional cleaning services and advice on what to add to spike the price of your Mercedes-Benz. For example, a set of new rubber floor mats will sweeten the deal.
Resellers will want to determine whether your car is in great running shape by looking at your servicing and maintenance records. Many of them insist that you leave the car with them, at least for a day, so that they can test the car themselves. Having complete and authentic car maintenance records is proof that the car is well cared for, and this increases its value.
The fewer the miles your Mercedes-Benz has covered, the higher its resale value. Your car could be in perfect condition concerning other factors, but if your mileage is more than 200K miles, the value of the car is bound to go down. Proof of accurate mileage is a selling point. It can be provided using repair bills or old receipts that have mileage figures on them.
Paint Color- Adding to the influence of the interior and exterior conditions of the car, the paint color also matters. For a luxury vehicle, you risk not selling if there are eccentric colors on the car’s body, especially those that require extra costs for upkeep. Stick to the typical Mercedes-Benz colors.
In case the reseller is not able to get you the price you intended, an auction is the best place to find a market for your Mercedes-Benz, especially if it is a classic make.
Although the factors of valuation provided by the car resellers also matter, car auctions such as the Mecum auctions provide additional information on how to determine the value of your car such as:
• For a Mercedes-Benz, a rare and limited production model will fetch a good price. Other factors that will determine its desirability include the model, engine, year, and color combination.
• Having the original components and historical documents is also likely to increase the value of an classic Mercedes-Benz.
• Features such as power steering, air conditioning, power brakes and power windows are also additions that will impress buyers.
• Restored vs. unrestored: an unrestored car is worth more than a restored car when both are in the same condition. It is hard to find a completely unrestored car, and so what matters is the quality of the restoration. High quality restorations will increase the value of a car.
To get the full value of your Mercedes-Benz, the factors listed above will help you to come up with a rough value of how much your car will fetch in the pre-owned car market.