Weighing Your Options: How Equipment Choices Affect a Car?s Resale Value
Say you’re in the market for a pickup truck. Let’s pretend that your tastes align with those of the masses, and you’ve decided on a Ford F-150. F-series trucks have topped the sales charts in the United States for 35 years, so you may assume that by selecting such a truck, you will have no problem with its resale value later, as opposed to more obscure vehicles that sell in small numbers and appeal to only a small segment of the market. You’d be partly right.
When it comes to resale value, mass appeal matters because it broadens the number of potential buyers. But if you’re shopping for a brand-new F-150, as soon as you start selecting options such as its engine, wheels, and cab size, you’re toying around with the way vehicle-valuation experts estimate its resale value before it is even driven away from the dealership. The truck’s value is not determined only by the options, either, but also by external factors such as where you live and what’s happening in the market. Welcome to the wonderful, nuanced world of vehicle valuation. Some things are obvious. Indeed, the most important attribute for resale value begins with the condition of the car or truck; maintaining it well and keeping records will pay off in the end.
Beyond that, the casserole of options that can be selected on a car or truck adds several layers to any particular vehicle’s value. It’s why valuation platforms such as Black Book list “adds&...
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