Owning a car comes with a lot of costs and responsibilities. Unfortunately, the second you drive your car off the sales lot, your car begins to depreciate.
When it comes to reselling it at a later date, you’ll want to make sure you get as much money for it as possible. Here are some tips to help increase the resale value of your car.
Maintain a comprehensive service history
Although services are not legally required, they are useful in so many ways. Being able to identify issues before they become major helps to preserve the efficiency and safety of your car. Make sure that your services are scheduled with a reputable provider. If you need a new servicer, search for car servicing near me to find local businesses that can help you.
Keeping comprehensive records of these services demonstrates your diligent upkeep which helps to reassure potential buyers that your car is reliable.
Keep the vehicle clean and presentable
When selling anything, it should be presented in the best light possible and cars are no exception. Whilst you don’t need to get a professional valet done, give it a good wash and polish to make it nice and attractive.
Don’t ignore the interior either. Make sure the seats, mats and carpets are all clean as it is the sign of a looked-after vehicle.
Address minor repairs promptly
It is not unsurprising that cars often wind up with dents or scratches. Whilst these are minor issues, they can put buyers off. If you do notice any, or they are mentioned during a service, get these repaired as soon as possible. This way, buyers won’t be asking for a price reduction!
Faulty lights are also an issue that is fairly easy to fix. You can do it yourself, but make sure you know what you are doing. If you are going to book in for a repair, make sure you do so before potential buyers come for viewings. Presenting your car as fully working will help you achieve your asking price.
Ensure a valid MOT and roadworthiness
A valid MOT certificate is legally required for any car on the road as it confirms that the vehicle meets legal safety standards. Being able to provide this assures buyers that they aren’t buying a dud/
Having this certificate can also increase the resale value as you can prove that the car was roadworthy on the day of the examination. Some estimate this could be as much as £631 on average when compared with cars without a valid MOT or with one that is due to expire in less than three months.
Consider market trends and timing
Like any other market, the car market tends to fluctuate and have times when selling is a great idea and times when you should wait. Certain models and years of cars could appreciate due to higher demand whereas others will continue to depreciate.
Keeping an eye on these trends will allow you to capitalise on the market, potentially leading to a higher sale price.
