How to Improve the Resale Value of Used Cars
Do you have a used car to sell and want the best resale value for it? Unsure about the dos and don’ts of how to get the best resale value for your used car? If the answer is yes, we share several tips to improve the resale value of used cars.
People sell their used cars to upgrade either to a new car or simply get a better one. Other reasons to buy a new car include: to fit your growing family or a need for a more fuel efficient ride. You’ve made a booking for that brand new car, so the next obvious step is to sell your used car. You’d certainly want the best resale or offer price for your used car, right?
This article goes through the best tips to improve the resale value of used cars.
- Make sure your car is well maintained
- Fix your car up
- Clean your car regularly
- Your car’s body colour plays a part in the resale value
- Don’t modify your car too excessively
While this might seem like an obvious piece of advice, it still needs to be said. This is because simply maintaining your car can mean a lot when it comes time to sell. A well-maintained car has a longer life span (unless it’s been in a major accident or was poorly assembled). In addition to maintaining your car, do keep a record of its regular service as proof for potential buyers. If you service your car with a distributor, you’ll often be given a pretty record book that’ll be updated by the dealer. However, if you’ve chosen to service at an outside mechanic, be sure to file and date the service receipts.
2. Fix it, fast
If your car has an issue, fix it instantly. Minor dents and dings that you don’t think much of can severely dent and compromise your resale value, even if the damage is just cosmetic. Don’t forget under the bonnet, small marks or imperfections can get worse and start to rust when exposed to the elements. As you wait to fix it, it’s possible the damage will get worse and will cost more to repair.
3. Clean your car regularly
Keeping your car tidy can do wonders for your resale value. A little extra TLC (tender loving care) every now and again like a wax or polish, cushion cleaning, etc. will have your car looking newer to net a better price.
Regular cleaning can be worth your while, money wise. For instance, vacuuming the interiors will help prolong the lifespan of your car’s air conditioning. Also, careful cleaning under the bonnet can eliminate the potential of trapped dust and dirt clogging your system.
4. Consider the mileage
A car with more mileage might fetch a lower resale value and expectedly so. This is because; a car with high mileage could indicate more wear and tear when compared to a barely driven car with low mileage. By keeping an eye on the odometer and distances covered, you can limit unnecessary trips. For instance, avoid making excessive rounds to find the closest parking spot; it will add to your mileage over the years. Also, if you are someone who often lends your car to friends or family, you might want to reconsider doing so and save the kms to keep the resale value high.
5. Choose the right colour
Believe it or not, your car’s body colour actually plays a part in the resale value. Not everyone will be as keen of driving a car with a pink, bright orange, shimmery lime green or two-tone paint job. The colour of your car reflects your car’s resale value, plus you can’t go wrong with anything that is factory recommended or specified. According to most automotive paint suppliers, some hues are less popular than others and these tend to differ with regions. In Asia and around the globe for that matter, white is a top seller along with black, grey and silver. For some reason, colours like maroon and green have poor resale values. As you think about car colours, it might also be a good idea to skip racing stripes and leopard prints.
6. Modify sparingly
Car modification is definitely not a necessity, but to the young and frivolous, it seems like a requirement. The reason is they feel like maximizing their cars’ fanciness by modifying the exhaust pipes to make it blare as loudly as possible or affixing extended spoilers and racing wings to give it a sporty look. Think again, as this could negatively affect the resale price. Bear in mind that not everyone appreciates major modifications, unless you find a buyer that also into the ‘mods’ thingy. However, there are good ‘mods’ too that may increase resale value of a used car such as; upgrading security features, installing tinting as well as adding quality speakers and modern tech like reverse camera and infotainment systems.
So those are some of the ways to improve the resale value of used cars. You can learn more about selling your car if you are looking to sell your car or book an inspection today! You can also buy a new car!
This article is the republished version of the original.