Most of the assets we own tend to hold on their resale value as time goes on, but it would seem that the only asset that loses value as soon as purchase it is a car.
Most people won’t pay the same price on a car, even if we’ve had it for a month. People believe that the biggest expense of owning a car is fueling it.
Whenever it’s time to ditch the old car, we strongly advise that you maximize the resale value first in order to get the most of it.
But how do you do that? In this article, we are going to focus on a few tips that will allow you to maximize the resale value of your car.
1. Proper Maintenance
Keeping most of the car’s resale value is solely down to proper maintenance. A car is an extension of our lives, much like other stuff such as smartphones. So it’s very important that we keep it in top condition from day one. No one will give you a good price if your phone has a cracked screen. The case is the same for your car. No one will pay the price you ask if there is something wrong with your car. That’s why you should take it for a maintenance check before you even think about taking it to the dealership.
2. Get an Overall Price Check
It’s important that we understand the value of our car before we advertise it. This can be done quite simply. There are online price services, such as pricemycar.com.au, that allows users to compare car prices and find out the actual value of their vehicles. It is a concept that is not new, but rather an innovative one. What was once a routine run to the dealership, is now a simple Google search. An Aussie startup, pricemycar allows users to get a general view of their car’s price, and even compare it with others.
3. Mind the Mileage
It’s a general rule of thumb that the more miles you put into your car, the less money you’ll get at the end. Mingling with the car mileage is punishable by law, and you can get into a lot of trouble. So that’s why you need the mind the mileage. You can’t get the same price of your car if you’ve passed 50,000 miles. If we take into consideration that the average mileage per year goes up to 13,500, asking for the same amount is close to impossible.
4. Make Sure to Clean it
Keeping the car clean will increase the overall appeal of the vehicle. More people will be more inclined to buying your car, and for the price, you ask if you keep it crystal clear. Cleaning it in and out will keep it aesthetically and cosmetically pleasing for those looking to buy it.
5. Fix The Dents
Dents and dings look bad for your car, and it decreases the chances of someone paying your asking price. Dents and dings are easy to fix, and they don’t cost a lot of money. So make sure to fix those in order to get the best possible resale value for your car.