Is my car in a good condition? Will it be able to fetch a very good price? Can I make profit from selling it? Questions often asked by people who are thinking of selling their cars. It is true that cars won’t fetch the same price as their original price. This is due to depreciation. Cars’ values drop when they are being used over time as some parts wear out, break, scratch or stop working. If you are a person thinking of selling your car and want to offset the value that has depreciated, then you can increase its resale value by the following methods:
- Bodywork and Paint
Like most cars, your car will probably get dents, dings and scratches. It is unavoidable to get minor blemishes to your paintwork by stone chips and scratches by tree branches or kids playing next to your car. However, most dents are easy to correct without spending too much money and it is easy to hide the scratches with paint and polish making your car lustrous and smooth. This will allow you to sell your car at a higher price.
- Inspect and Replace Tyres
Out of all the car’s components, the wheels take on the most beating. They usually sustain both cosmetic and functional issues that can bring your car’s total selling value down. Your car’s shiny look does not end with paint. It should also include the tyres. Have it inspected and if it’s in good shape, clean it and if not, replace it.
- Keep it Clean
Silly as it may sound it has been found that cars that had been professionally cleaned could sell for more than those that hadn’t. Many buyers will let first impressions highly influence their judgement and read filth on a car as a sign of a car that hasn’t been cared for. If the car is filthy, it will conjure up images of reckless driving and an inattentive owner. Therefore a clean appearance is important to increase the resale value.
- Economic Conditions
It is crucial that you make sure to sell your car at a time where cars are in high demand or in less supply. People’s desperation will drive up the bargain price. Or if the government has recently increased taxes on cars leading to higher prices, people’s attention will shift to less pricey used cars allowing you to have the upper hand in the negotiation.
- Maintenance and Paperwork
It is necessary hat you take your car to a mechanic very often to check the condition your car is in. This will help you keep your car in tip-top condition but your buyer needs to see that you have done this. Therefore, each time you have the car serviced or have some part replaced, file the receipt in a folder because documentation helps you augment the selling price of your car. It will show how you have cared for the car and will gain your buyer’s trust.