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Factors affecting car value

Factors affecting car value

First a real statement of the obvious, the condition of the car both inside and out has a great effect on its resale value. First impressions count, so even an hour or so given over to a clean and a tidy-up will make a difference to the value that you'll be able to get when you're into the negotiating phase of the sales process.

Any damage or dirty areas, large or small, is going to give the buyer an opportunity to start to haggle the price downwards. And just think again about those great looking stickers that remind you of the family holiday in the West Country. Great looking to you, but perhaps not to a potential new owner. Best remove them - little things are important.

Preparing Your Car

Inside, a clean, well-kept interior is important. Get stains, dog hairs, unpleasant smells and so forth removed. New mats are relatively cheap and look great. Outside, touch up any small dents or areas where the paint is missing. Give the bodywork a thorough clean and polish, or think about T-Cutting the paint finish. If you can't manage a thorough clean-up yourself, a few pounds spent on a professional valet will repay you many-fold when you come to shake on the deal.

A full-service history is a powerful incentive to buy a car - it signals a responsible owner. Regardless of whether you have that or not, make sure that the engine and moving parts are serviced and running well, no unusual noises or a loose feel to the drive.

Top Tip: Aim to keep your car's service history fully up to date - a regular, annual service indicates the car has been well looked after

When it comes to thinking about the resale value of your vehicle, there are some things that can only be covered when you actually buy the car in the first place.

Choose the Right Brand

For example, the choice of the brand of your car. The manufacturer's badge adorning the front of your used or nearly new vehicle does have a real impact on the resale value. And that can be without any reference to the condition of the car.

Some vehicles have a real reputation for a sky-diving depreciation as soon as you leave the showroom. Honda, Subaru, Hyundai, and Toyota however keep their value for longer in the everyday mass-market and marks such as Lexus, Mercedes, and Audi are known to have higher resale values in the luxury brands.

Paint colour shouldn't be crucial to the value of your car, as long as it is good condition it will command a good price. Well, sorry, but that just isn't true. Avoid garish colours and unusual paint jobs in the first place, or the resale value of your vehicle will be hit. Believe it or not, black is the most popular colour, and the classics such as silver, blue and green will keep the value higher.

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 cheaper. Again, just have that in mind when you buying your vehicle in the first place.

Keep it Simple

As with unusual colours, aftermarket accessories and performance enhancing kits can also have a negative effect on your car.

Finally, give some thought to when you actually put your car on the market. The length remaining on the car's MOT for example with have an effect - twelve months is far better than two months. And even the time of year will have an influence, convertibles sell better in summer, 4x4s in the winter.

Top Tip: The value of a car can differ depending upon the time of year. Convertibles can command higher prices in summer and 4X4s in winter

There are many things to consider when it comes to getting the best price when you're selling your car. But don't worry. Prepare your car the best you can, have the price that you want in your mind and get to it!

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