October 09, 2018
When you finally save the money to purchase that new vehicle you have been eyeing, you are ready to unload your current car. You probably have a vague idea of its resale value and may plan to use the money you get toward your new vehicle. Nevertheless, it’ll come as a surprise if a dealer or private buyer tell you the car holds little resale value.
Before you ever get to that point, learn a few ways to get the highest possible amount for your current car. You’ll be in the driver’s seat when it comes time to sell your car.Mileage Matters
A big factor in keeping your car’s resale value tipped toward the higher end of the scale is keeping the mileage as low as possible. If you live in a large urban area, then you may have to bite the bullet on the mileage. Any commute taking you across wall-to-wall traffic to and from your workplace is bound to pack miles on your current car. Look into the possibility of sharing your commute with coworkers who live nearby. This can substantially reduce wear and tear on your car and reduce your risk of a car accident. Generally putting more than 15,000 miles a year on your car is not good for resale value.Keep Your Car in Good Condition
Wear and tear that shows on your car’s exterior lower the resale value. Dings, dents and scratches do not add to your resale value. Consider getting those dings and scratches repaired, and a new paint job or a great wax job to make your car stand out and look almost new. If you can park in a garage, this can protect your car from harsh weather and damaging sunlight. Your car’s interior also makes a difference when selling your car. It’s important to keep your vehicle clean, from seats and carpet to making sure there are no offensive smells such as cigarette smoke smells permeating throughout the cabin.Popular Cars Pay the Bills
Consider your high school days when understanding why desirable cars bring more cash. If you were the star quarterback or the head cheerleader, then it is doubtful you had to reach for your own wallet or purse very often. Usually, less popular students would pick up the tab just so they could hang around the trendy crowd. The same theory holds true for your car. If you purchased a model that remains popular and in demand, then it makes sense that you can command a higher price when you sell it. Occasionally, you purchased the equivalent of the class nerd. When it turns out to be an extraordinarily successful car, others find it desirable and want to own it.Newer Cars Have Better Resale Offers
Unless you own a vintage restored automobile, older cars will not bring in a lot of cash when sold. It is a fact of life that newer cars are easier to maintain. If you sell your car to a dealer, you are likely to receive more money for a newer car that they can sell quickly. Car dealers are not storage facilities for older, rusting vehicles.
If your car is an old clunker, consider selling it in a private sale. Your junk may be someone else’s treasure. A young person who is just starting out may be grateful for an older vehicle if it’s reliable. Be a responsible seller and have a mechanic check your vehicle for any problems before listing it for sale.Document Maintenance Work
Keep your car well-maintained and keep all documentation of services such as oil changes or other things you did yourself. Less driving means lower maintenance costs. This is another good reason to find alternatives for a long commute.
If you live near reliable public transit, consider using it for your commute several days a week or more. Instead of arriving at work with clenched teeth and fists from a frustrating commute, take public transportation and leave negotiating the traffic problems to someone else.
You may contact us or you can come down to our dealership and have a conversation about your current car and potential resale value. Our friendly staff will be glad to look at your current car and give you a few pointers on specific ways to get the best resale value. We look forward to meeting you.
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