At one point or the other, many car owners will consider reselling their cars; either to raise money for a new model or to solve emergency financial needs. Whatever the case, it is certain that you will want to get as much cash from the resale for as much as your car is worth. However, this is not always the case if you don’t know how to go about it in order to get great offers from potential buyers.
The truth is that getting a good deal from selling your car involves keeping your car’s value on the high side. Here are a few tips to get a better resale value from the sale of your car:
The value of most cars generally depreciates with time. However, proper maintenance is what stands between a car with appreciable value and a badly depreciated car. Keeping your car’s value on the high side for resale would mean maintaining that car from the first day of purchase. It means not allowing the easy fixes to compound to a large problem that eventually grinds the car to a halt.
It also means fixing a burned headlight or taillight before it leads to more issues. It means having the engine checked regularly to avoid mechanical problems that could make it lose value. The damage to a car’s value is the combination of the little dents and seemingly minor faults that you have overlooked over a period of time.
Invest in New Tyres
Car resale is like a subtle beauty contest. The outside look is the first thing that grabs the attention of the buyer, which makes the tyres very important. Therefore, you have to take a good look at the condition of your tyres.
Questions to ask at this point include: how often you have the tyres replaced since you purchased the car? What is the condition of the tread wear? Are the tires holding air?
Better still, consider investing in new tyres to boost the entire car’s appearance. It is no accident that one of the first things buyers notice is a worn-out set of tyres. While it will cost you less to replace these tyres and get a handsome payment in return, buyers see worn-out tires as an extra cost that should be avoided like a plague when buying a used car. Worn out tyres raise a major red flag.
Keep a Record of Repairs and Maintenance
Few things excite a prospective buyer as much as the knowledge that the car they are about to buy was properly taken care of. One great way to prove this is to provide the potential buyer with a document that shows the car’s history of maintenance and repairs.
Keep a record of all repairs and maintenance. This should include oil change, warranty and any other information that will help the buyer settle into the car easily.
These records go a long way in describing the ownership history of the car to the buyer and reduce questions around its maintenance history.
Keep the Car Thoroughly Clean
Are those interiors looking as enticing or even half as charming as the first day you acquired the car? If the answer is no, then there is a problem because you can this will not help the car’s resale value. One of the easiest ways to boost the value of your car is by giving the car a proper cleaning inside and outside.
Give your car an aesthetic facelift by cleaning it thoroughly. Shine the wheels, dust and clean out the stains. This is luckily one of the few measures that cost next to nothing in improving the market value of the car.
Buyers are usually quick to notice a dirty floor mat. You should clean them or buy new ones. Things like holes and stains only end up putting buyers off.
Clean the leather as well and vacuum the carpeting if need be. Your interiors should smell nice and make the buyer visually relaxed when he/she comes to inspect the car.
Wax and Polish the Car
Waxing and polishing top the list of things to do when grooming your car for resale. Those dents, scratches and dings are just like worn-out tires and inspire similar fears in a prospective buyer. Even the most careful drivers come out with scratches and dents at the end of the day. So, the dents are not your fault, but not fixing it before showing the car to a buyer is completely your fault.
Waxing and polishing can cover a multitude of automobile sins (especially dents and scratches). They keep your car’s paintwork in good condition and boost its resale value a great deal.
More Kilometers, Less Value
If you have any plans of making some serious money off that car of yours during resale, then you might just have to reconsider taking public transport instead of driving long-distance across states. Cars are believed to depreciate faster based on the kilometres you have put into the car. Experts have stated that a car’s average annual mileage is 21,726 kilometres and anything above this means less value for the car.
Final Thoughts on Car Resale Value
Driving safely is the ultimate game-changer in boosting the resale value of your car. It is unarguably true that a great driving habit reduces the incidence of dents, scratches and failed engine. Moreover, it prevents you from having an accident, which is the one thing that significantly diminishes the value of any car no matter the cost of purchase. At Cheki.com.ng, we will encourage you to practise safe driving habits to keep your car in a condition that can guarantee good value whenever you decide to put it up for sale.
By the way, if you are interested in getting a car loan in Nigeria, you can get started by applying for one from Cheki Finance. Get started here.