10 tips to boost your car’s resale value
12th Jun 2017 11:21 am
Here's how you can get the best resale price for your car
It's time to part with your car and you obviously want a good price for it. But whosoever is buying it would also want to pay as low as possible, right? So, what's the good way to make sure you get the best price for your car?
1 Regular maintenance
Regular servicing and maintenance keeps the car running well and enhances its performance and longevity. Remember to service your car only at authorised workshops and use original spare parts for repairs and replacements. Using original parts keeps your car closer to when new and this is a huge draw during a resale.
2 Maintain a service history and documents
A complete record of all the servicing bills and logs is helpful when selling – it is proof of the car's maintenance to the buyer. If your car was running well, this will show in the low servicing requirements and will help improve your car's resale value. If you haven't kept a record of previous services, just ask your authorised service centre for the same and file them.
3 Get an extended warranty or service pack
An extended warranty is a good idea to cover you for any unforeseen expenses. If it is still valid at the time of selling your car, it will add to the value and strengthen your bargaining power.
4 Keep the car clean
A dirty car will always look like it's in a bad mechanical shape. Get your car washed regularly and clean it from the inside too. You can have it professionally detailed at a reputed local outlet as well.
5 Keep the electricals working
Writing 'fully functional' in your car ad can raise your car's value by a good margin. Sure, a buyer can easily fix a fused bulb. But this will only lower the perceived value of your car and trigger a buyer's bargaining instincts. Spend a little time and money and make sure that all the electricals, right from something like a sunroof to a number plate bulb are working.
6 Avoid accessories
Aftermarket alloy wheels, spoilers and other modifications to the car might enhance its appeal in your eyes, but it is subjective to one's choices and during a resale, these accessories or even a different paint shade makes it harder to sell.
7 Avoid engine mods and performance tune-ups
These, like accessories, are a big no. First, they reduce your potential customer base and you will have to drop your price – no one pays more for performance mods since the worry is what damage they may have done to the car. So, if resale is on your mind, keep the car as close to the stock as possible.
8 Select a safe paint
Bright yellow or Bottle green paints may appeal to you, but look around – most people prefer the regular silver and white. So stick to colours that are popular and you will have a better chance of selling at a good value. Of course, if this is a sportscar, louder colours will work to your advantage.
9 Keep the car in good driving condition
Pay attention to how the car drives, keep the clutch and brakes in good shape and make sure they feel right when running. Pay attention to any small noises and rattles – they may be minor but can give the impression of a badly maintained car, thus lowering its resale value.
10 Keep it free of traffic tickets
Traffic regulators are a lot strict and technologically advanced these days. e-Challans are in force in many parts of India. A buyer can easily verify your car's registration number online to check if it has any outstanding challans, which if you do, can lower the car's value.
In the marketplace, a well-kept five-year-old car will fetch you more moolah than a car that's just three years old but lacks the sparkle. The idea is to keep attending to the needs of your car periodically. Remember, a stitch in time saves nine.