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I have had my current car for 9 years at the end of the year. It’s got fairly high mileage on it so will be on the lookout for another in the near future. But what’s got me thinking is how much mine is worth?
When it comes to selling your car, it’s important to consider its resale value. Many factors can affect the resale value, but if you are informed and prepared, you should be able to get top dollar for your vehicle.
8 Things That Affect Your Car’s Resale Value
- Parts and Accessories
Is your car kitted out with all the latest equipment? Custom rims, high-end stereos, and all sorts of other accessories may end up costing you. Future buyers will be concerned with the high upkeep and the warranty coverage, if there is any. It’s a good idea to steer clear of fancy add-ons, especially those that alter safety equipment and power.
- Mechanical Condition
Before you request cash for cars online quote, determine if your car is in great running condition. You can do this by ensuring it is served regularly and that you have records of all services, maintenance, and repairs.
The type of car you have has an impact of its resale value. Some cars are known for depreciating at a rapid pace, but cars like Toyota, Subaru, Honda, and Hyundai rank tops for their higher resale values.
- Exterior Condition
Damage to the exterior of the car, no matter how small, impacts the value of your car. If you want to sell your car, aim to have it professionally repaired, washed, and consider getting a paint correction or detail job done to help increase the car’s value.
- Interior Condition
If the inside of your car is well-kept and clean, people are more likely to be interested. But, if there is a nasty smell, or it looks like you have basically been living in the car, you’re going to have a hard time getting the price you want for it. Make use of a professional service to clean up and detail the interior and get a set of new floor mats to really sweeten the deal.
- Paint Colour
Selling a car is not that different to selling a house. The condition is crucial to the overall value. If your car is painted in a rather eccentric colour, you risk a slow or even no sale. Stick to classic colours like black, white, or silver.
- Seasonal Demand and Drive trains
The average used car buyer tends to prefer automatic transmissions, but other markets do indeed prefer manual cars. Believe it or not, seasons can affect the value of used cars – wait until the right time to sell yours.
Naturally, fewer miles equal higher resale values. Your car may be in top condition, but it may not get the price you want if it has over 200,000 miles on it.
Sell My Car is one of the fast and convenient ways to sell your car. We aim to give our customers maximum value on their used car which means you save valuable time trying to sell the car privately.
Have you had any problems reselling your car? As always I love to read your thoughts.
If you liked this, you may like my previous post on why having a carport is an advantage.
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