The popularity of your make and model of car, whether a prestigious up market brand or a basic but well loved economical runner, can make a considerable difference to its market value when you try to sell the car either privately or to a dealer.
Several conflicting forces come into play when you want to sell a car and judging if you are going to obtain the price you believe the vehicle is worth. While it inevitably comes down to a particular car’s mileage, year of manufacture, condition and history, the individual make, desirability and market availability must also be considered.
There can’t be too many people who don’t know that German manufactured models, such as Mercedes and BMW, have for years occupied the top spots as the status marques to be seen driving. Surveys consistently show that the BMW 3 Series is still the UK’s most desirable make and model, followed by the Volkswagen Golf as an ever-popular choice. Other well-known brands that are most commonly traded include the Audi A4, Ford Focus, the newest Vauxhall Astras and Nissan.
What this means for you if you are selling a car is that it may very well be that a high mileage BMW can command a good resale price but crucial factors such as year of manufacture, exact model, condition, special features and current market trends in your region all play their part.
In slightly less than ten years the percentage of diesel cars entering the used car market has increased from around 15 per cent to 35 per cent of all cars sold while petrol cars have decreased to around 65 per cent of all used cars sold.
Today, factors such as carbon emission legislation and green technology are rapidly changing the auto industry which of course have an impact upon the used car sector. Greater use of direct injection technology, downsized engines and turbo-charging has resulted in far more efficient petrol engines and can have an influence on demand by used car buyers.