Cars are like clothes in that eventually, it will be time to say goodbye. Getting rid of a pair of jeans is easy, but trading in or selling a car isn’t as big of a hassle as it could be, so long as you’re getting the right price for it. Check out these tips on how to increase your car’s resale value so that you get the best price for your car.
Track Its Life Span
Anyone interested in improving their car’s resale value must keep a log of its use, repairs, incidents or accidents, and mileage. All of these are important considerations that dealers and private auto traders keep in mind when purchasing preowned vehicles. Keep a log of these factors throughout your vehicle’s life so that whoever eventually buys the car has the information on hand.
Repair as Needed
To get the best resale value possible, you’ll likely need to make repairs as needed. This means reading over the owner’s manual to check ideal fluid levels, tire pressure, oil mileage, and more. If the exterior has any scratches, consider using a touch-up paint applicator to hide them. You might believe these investments are worthless if you’re about to ditch your car anyway, but the more repairs you make toward improving your vehicle, the greater resale value you’re likely to see.
Another way to increase your car’s resale value is to modify it. Car modifications are hot, desirable features for many auto enthusiasts. Whether it’s new tires, a new engine, cold air intake, a suspension lift, or a new audio system, consider improving the car’s interior or exterior with modifications. Even new technology such as Bluetooth-compatible systems will raise the resale value more than nothing at all.
Know Its Worth
Having an appraisal done for the car isn’t a bad idea, either. This is an important step in actively ensuring that dealers or private buyers don’t lowball you during the trade-in or buying process. Any final price is likely to be lower than the original MSRP (manufacturer’s suggested retail price), but having an auto appraiser look over the car beforehand will give you a better idea of its value before you go into the trade. The appraiser will analyze the condition, age, maintenance, and modifications of the car before giving you their estimated price.