Unlike most other assets, vehicles almost always lose their value over time. Whilst there is a standard rate at which depreciation usually occurs. You can take steps to ensure you get the best possible price when reselling your car.
You can get an idea of how the value of cars fluctuates depending on their condition through Sell My Car Brisbane. When searching for a vehicle, cars with ‘average condition’ will be worth more than cars with ‘below average condition’ and less than cars with ‘above average condition’.
Do Your Research When Buying
Choosing a car that suits your lifestyle and needs is important. Still, it would help if you also considered the impacts of depreciation as some specific makes and models depreciate faster than others. Many online resources help you calculate the rate of your vehicle depreciation on your vehicle, including Canstar.
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Consider how long you want to keep the car and at what point you might want to sell it. You can use free car valuations brisbane to find out what older models of the vehicle you’re interested in are worth now and compare them to other models.
Your vehicle’s paint colour can also impact, with more popular colours often having a higher resale value. According to a survey of cars sold in the Asia Pacific by PPG Industries, the five most popular vehicle colours (white, silver, black, natural and red) retain on average 39% of their value over time.
Regular Servicing
Pay attention to the manual with your car, where manufacturers specify the intervals at which you should service your vehicle. Generally, the guideline is to service your car every six months or every 10,000kms, whichever comes first. You must follow these guidelines and have your vehicle serviced by a reputable mechanic at these points. You must also keep all logbooks and service history up to date, as cars sold without service history are worth far less than those with up-to-date, detailed service history.
Keep Your Car Undercover
Protecting your car from the effects of the weather can significantly impact your vehicle’s resale value. Damage caused by hail and other severe weather conditions can be one of the biggest causes of serious damage to your vehicle. Most dealers or private buyers will not buy a car with hail damage, which can be costly to fix.
Leaving your car in the sun for long periods can damage the interior and exterior. Keeping your car garaged or undercover will ensure that you don’t have to pay for the effects of the weather. It will also help to keep your car clean.
Keep Your Car Clean
When a buyer, either private or a dealer, is looking at buying your car. The level of cleanliness inside and outside the vehicle is the first factor that they’ll notice. Which may well inform their decision to buy your car.
It’s a good idea when looking to sell your car to have both the interior and exterior cleaning for inspections.
Always Fix Minor Scratches & Dents
While having a minor scratch or dent might not affect the appearance of your vehicle or the way your car drives, it is necessary to fix all damage so as not to impact the resale value of your car.
Not only can minor damage develop into far more significant damage, but it can also significantly impact the resale value of your vehicle. Often the cost of fixing minor damage will be less than what you would lose if you resold the car and didn’t fix it.
Modifications
There is an assumption that adding modifications to your car always adds value. However, this is not necessarily the case. Often, cars have the best resale value when they perfectly match the factory specifications of when the vehicle was originally sold.
Some modifications can increase resale value, such as touch screen navigation and entertainment systems and sunroofs; however, you will unlikely recoup the cost of installing these modifications entirely when reselling your car.
