Selling your second-hand car is a smart thing to do these days. Prices are high, and sellers like yourself have more power than ever. If there was ever a time to offload that Subaru BRZ, this is it. But how do you make the most of this seller’s market?
There are many ways of maximising your resale value, and no we’re not just talking about regularly servicing your car (while that’s obviously an important aspect).
Here are eight practical steps you can take right now to increase your car’s resale value. Let’s get started.
It all starts with the model
Maximising your car’s resale value all starts at the dealership when you make the decision to buy. Choosing a model that’s near the end of its lifecycle, or one that is about to be replaced by a much-improved model can put you back when it comes to negotiating with prospective buyers.
Choosing a car that is in good condition, in high demand, or with a novelty factor – the Subaru BRZ is a great example of this, can drastically improve your chances of getting more offers on your car.
Think about where you park
Where you park can dramatically impact your car’s resale value. Parking under a Lilly-Pilly tree, or close to a tree that sheds branches, leaves your car vulnerable to damage to the roof and exterior. It’s a good idea to store your car under cover away from harsh sunlight that could damage your car paint over time. This is also the best way to prevent dings, scratches, and gouges in your bodywork from cars parked nearby and vandalism.
If you have a garage, park in there, as this will mitigate against potential hail damage, not to mention keep it safe from break-ins or worse, theft. Ensure that your car is well protected from potential weather hazards and other environmental hazards that might impact the integrity of your vehicle.
Smoking in your car might give you the thrill while it’s yours, but finding an owner who is willing to match your best price for a car that is irreversibly smelling like cigarette smoke or any obvious attempts to cover it up will cost you at resale.
If re-selling your vehicle is a goal from the start, avoid smoking in your vehicle as much as possible. Getting the highest resale value for your car means considering both your needs and those of the future owner.
Invest in car mats
Ever spilled your coffee, or watched in dismay as a child in the back seat proceeds to throw their entire meal on the floor?
Whether it’s an accident, or simply unavoidable, it’s good to be prepared for life’s little incidents.
Floor mats are the most simple and often the most effective protection against stains on your interior. You can spill, stain, step and splash whatever you want and they’ll keep your floors and seats looking as fresh as possible.
Re-painting and modifications
Painting your car with chrome paint and adding a spoiler may satisfy your immediate desires, but your potential buyers might have other ideas – or at least for the price you’d want to sell it for, modifications like those may negatively impact your resell price.
Keep your car as intact as possible. If you’re modifying, be smart about it, and avoid procedures that may render the vehicle undesirable by a dealer, or a private buyer.
The number on the odometer is one of the most important factors buyers will consider when buying a brand-new car. The psychological barrier of 100,000 kilometres is a big one to watch out for.
If you’re running at 96,000 kilometres and hoping to sell, try not to go on any long road trips before you actually sell the car. Once you go over the 100,000 mark your asking price will be pushed down considerably. The same goes for the 50,000 mark and so on. Buyers are looking for cars with low kilometres, and seeing a relatively small number will help your cause.
Keep your logbook up to date
Buyers aren’t just on the lookout for a clean and smoke-free car, they’re also keenly interested in your service history.
Cars go through a lot in the first half of their lives and with no way of telling how a car has actually been driven, the service history doesn’t only show how well the car has been cared for, but also whether there were any major structural issues, significant damages that should be taken into consideration in the asking price.
Spending cash on regular maintenance may seem counterintuitive if your goal is to maximise your return, but maintaining an up-to-date service logbook is exactly how to increase car resale value in the long term.
Be cautious with dogs
If you’re a dog owner, you’ll know how easily dog hair, sand and all manner of sins spread to all corners of the house, car, and everywhere you allow them to inhabit.
If you’re wondering how to increase car resale value, minimising where and how often your dog travels in the car can go a long way in reducing the fallout. Perspex screens and dedicated dog zones can help maintain a clean car while minimising the impact of inevitable slobber and hair.
Re-selling your car? Speak to the experts
Thinking of re-selling your car but not sure how to start? Why not ask the experts for an estimate? Here at City Subaru Perth, our team is dedicated to ensuring owners get the best value for the trade-ins and the most fun from their new model. Whether you’re planning to sell privately or on the lookout for a trade-in, come test drive our wide range of both used cars and brand new cars, and don’t forget to inquire about our demo models in stock.