5 Ways To Increase The Resale Value Of Your Car
It’s a well-known fact that new cars depreciate significantly from the moment that you drive them off the dealers’ forecourt, but there are still some things that you can do to help them retain as much of their value as possible. Here are five ways that you can help to retain and even to increase the value of your family car.
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- Keep a logbook
Potential buyers like nothing more than to be able to see that a car has been well cared for throughout its lifetime so it is always worth keeping a well-documented service history. Don’t throw away receipts from any maintenance or repair work that you have had done, instead, keep them all and add them to a binder or folder that you can then show to potential buyers in the future. This simple trick can add thousands onto the resale value of your vehicle.
- Store it inside
Sunlight, weather and even nature can cause significant damage to a vehicle over the years, causing paintwork to fade and rust to form. If you can, try to store your vehicle inside a garage or under a car-shelter, or, if this isn’t possible, then be sure to park it somewhere that is away from any overhead trees which can increase the chances of sap or bird droppings falling onto your car.
- Clean it regularly
It’s always beneficial to have a clean car when you are trying to sell it but cleaning your car regularly throughout the time that you own it can help to increase its eventual sale value too by helping to maintain its paintwork. Believe it or not, something as common as bird droppings can actually erode through paintwork leaving flaky patches on your car, so always tend to them quickly when you spot them.
- Repair your alloys
Your paintwork may be in great condition, but if your alloys are scratched, dented or cracked, then this can make it look like you have been driving recklessly and will drop the resale value of your car. The state of your alloys may not bother you, but when the time comes to sell your car you may want to book it in for an alloy repair service so that they look brand new for your future buyer.
- Keep your mileage down
Once a new car drives off the forecourt its value can depreciate by as much as 40%. The key to retaining as much value as possible on any new vehicle that you plan to sell is to keep the mileage down as much as possible. This doesn’t mean not driving your car but does mean thinking about selling it before it reaches big milestones like 25,000, 50,000 miles and 100,000 miles. The difference between 98,000 miles and 100,000 miles may not seem significant on paper, but psychologically it can cost your car thousands of pounds.
So there you have it – five simple things that you can do to increase the resale value of your car.
