Are you looking to buy a new car but need to get rid of the old one first? Unlike other investments which appreciate over time, cars depreciate in value, right from the moment they exit the showroom. But there are ways which can help you preserve your car’s value by keeping it in good condition, so you don’t have to haggle with the buyer when it’s time to sell.
Buy a car that retains its value
Cars are considered more valuable when they are manufactured by a reliable brand and are known for being safe. Japanese manufactured cars such as Toyota, Nissan, Lexus and Honda tend to fetch a higher value when on sale. This is also a matter of perception as nowadays there are no bad cars, however, prior research can help you invest in the right model to get most out of it when selling it.
Drive safely and avoid getting into an accident
If a car has been in an accident, it can dramatically lower the car’s value at the time of sale. This is something which is unavoidable but can be prevented by following laws laid down by RTA and driving safely. If you are making post-accident repairs, make sure to only use original parts and keep the receipt as it can be provided as proof.
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Keep your car clean
No one likes a dirty car and when a car looks polished it naturally attracts more buyers who are ready to pay the asking price. In order to achieve this, get your car waxed and polished every 4 – 6 months so the paint stays protected and gets a glossy finish. Keep the interiors clean by vacuuming the inside and avoid smoking inside the car.
Get all the paperwork in order
Keep your service record up to date along with detailed service records and receipts of any recent repairs made. If your car is still under a bank loan, the ownership will remain in the bank’s name until you settle the outstanding balance. Take this into consideration as loan settlement can take a few days and you may lose a potential buyer if paperwork isn’t ready.
Check the tyres
Make sure your car tyres are in good condition at the time of sale. If they are not in the best shape, potential buyers can use this as an excuse to lower the asking price. If the tyres are worn out and haven’t been changed for a long time, consider getting new ones and if there is a minor damage get them repaired. Don’t overlook this, as it can bring down your car’s value.