What factors affect my car's value?
There are some resale factors which should be considered before you even buy a new car:
Unfortunately, some brands have a negative reputation for sky-diving depreciation as soon as you leave the showroom. However, Honda, Subaru, Hyundai, and Toyota
are just some of the brands that keep their value for longer in the everyday mass-market. Luxury brands such as Lexus, Mercedes, and Audi are
even often known to have higher resale values.
While paint shouldn't be a crucial factor when it comes to a vehicles value, it is. Garish colours and unusual paint jobs just simply aren't as popular and therefore
the resale value of your vehicle will take a hit. Alternatively, black, silver, grey and blue are popular colours and often retain their value better.
There are other factors to consider when you already own the car:
First and foremost, the condition of your car (both inside and outside) has a great effect on its resale value. Consider whether it is worth fixing up any issues in
order to command a higher price when selling.
There's not much you can do about the mileage, and although high mileage cars can still be well cared for and mechanically sound, they will go for a cheaper resale price.
A full-service history is a powerful incentive to buy a car as it signals a responsible owner. Regardless of whether you have that or not, make sure that the
engine and moving parts are serviced and in good working order. The length remaining on the car's MOT is also a factor - twelve months is far better than two months.
Aim to keep your car's service history fully up to date - a regular, annual service indicates the car has been well looked after
First impressions count, so make sure to give your car a good clean before any viewings with potential buyers. And even the time of year will have an influence,
for example convertibles sell better in summer, and 4x4s in the winter.
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