Like all good things in life, the cars we drive and love and care for must eventually come to an end. The thing about realising it may be time for a new car is that we tend to convince ourselves of an unrealistic resale price before we even do our research. In our minds, a well looked after vehicle should be worth somewhere in the region of what we paid for it, with perhaps minor adjustments for depreciation. The reality is stark. No matter how well looked after your car may be, its value is set by the market, not by your opinion on what it should be worth.
One thing worth noting is that if your car has been damaged in a crash, the resale value will most likely be affected. This means that instead of focusing on ways to pump up the resale value, you should perhaps instead focus on compensation for your loss. For more details, and for answers to questions like ‘should you get a lawyer after a car crash that wasn’t your fault’ always speak to a lawyer.
Now, if your car has outlived its effectiveness, and if you’re looking to upgrade, you may need to know how to get the resale value you deserve, because although the market sets the price, your vehicle must meet certain standards to fall within market expectations and achieve the standard valuation.
Presentation is a critical factor
Sometimes, the way the things we buy look won’t matter to us as long as we get the performance we seek. Take washing machines, for example, and toothbrushes. As long as they work and as long as we feel like we’re getting our money’s worth, appearance matters very little. However, when it comes to cars, appearance and performance are almost 50-50 in terms of what we desire. It must work well, of course, but if it doesn’t look presentable, we’re not interested.
A car is an extension of the driver’s personality. If you are trying to sell your car, you must take this into account. Fix any paintwork scrapes, shampoo and vacuum any relevant materials inside the car, and even go as far as to replace any worn looking tyres. Remember, if you wouldn’t buy it at the asking price, neither will anybody else.
Have it looked over by a garage
A professional car garage will be able to give you an honest evaluation of the car’s current performance levels. This means that you can present the car to prospective buyers, safe in the knowledge that your asking price reflects the current state of the vehicle. Keep any receipts, as these can be invaluable proof to buyers of the car’s credentials.
Alternatively, should the news come back from the garage that the car could use a little work, you may wish to consider cutting your losses and selling the car for spare parts. People become attached to their cars and hate to see them chopped up, but sometimes this is the only way of clawing back some of your investment.
