Buying a car is quite a significant investment and will set you back a five-figure sum, so when you plan to sell it or trade it in a few years later, you’ll want to get the highest possible amount for it. Obviously, you’re going to make a loss on it due to depreciation, but that still shouldn’t stop you from fetching a good-value deal when you part ways with it. Here are some tips on how to increase your car’s resale value.
Prospective Buyers
The first thing a prospective buyer will check is the condition of the car. Are they offered a sleek, smooth machine or a clapped-out wagon, which looks every bit its age? It’s worth taking the car to a mechanic to have it serviced and get any major work done, but if it’s already in good condition, you’d probably be able to do most of the basic checks yourself. These include making sure that all the controls like lights and wipers work, and that all the fluids are topped up. You must improve the car’s overall condition to increase your car’s resale value.
Documentation will Increase Your Car’s Resale Value
A dealer or private buyer will also want the key documentation related to the vehicle, such as its registration certificate and service report. It is advisable to submit your last insurance policy, too, plus warranties for parts such as batteries and tires.
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Bargain with the Customer
If all that is in order, your chances of getting a good deal are strong. You can strengthen then even more by executing the sale smartly and assessing consumer behavior. If your car possesses popular features such as a diesel engine, parking sensors or leather seats, emphasize these when declaring it for sale. When it comes to negotiating a price, ask for a higher amount than the initial offer because you invested enough money to increase your car’s resale value. However, be reasonable with your valuation or the prospective buyer will get frustrated and cancel the deal.
The people at Woodstock Motors put together this useful infographic guide to getting the best value on selling or trading in your car – check it out below!
