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martes, septiembre 19, 2023
HomeSports-CarsHow to increase your car’s resale value

How to increase your car’s resale value

If you’re planning to resell your car in the near future, there are certain things you can do now to increase its resale value on the used-car market.

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Whether you’re planning to keep your car for three years or a decade, it pays to consider its potential resale value down the line.

However, without the ability to see the future, what can you do to safeguard or increase your car’s resale value when it comes time to part ways?

RELATED: The cars with the best resale value in Australia
RELATED: The best value cars in Australia for 2023

Typically, the data suggests used-car buyers prefer to buy a blank slate, rather than a car that’s been heavily personalised. This can put limits on modifications, paint colours and even the car keys you use.

As part of our exclusive Best Value Cars investigation, Drive sourced resale data from AutoGrab, an Australian automotive intelligence firm capturing used-car price data from marketplaces including CarSales, Facebook Marketplace, Autotrader and Gumtree.

To find out the factors that tend to dictate high and low used-car prices, we tapped Mitch Thompson, Product Manager at AutoGrab, to share his insights based on the company’s used-car price data.

1. Stick to basic colours

“Basic colours such as silver, white and black tend to have faster days to sell, less price drops and a higher final sale,” Mr Thompson tells Drive.

Meanwhile, he adds: “Individual colours such as bright yellows, greens and reds that statistically have longer average days to sell, more price drops and lower the final sale price”.

2. Choose your modifications carefully

‘Modification’ isn’t always a bad word – it just depends on what kind of modification you’re adding and the quality of the work.

“In-demand modifications for all vehicle types can vary, but we see four-wheel-drive cars with snorkels, lift kits and bullbars always fetch a premium compared to their non-modified counterparts,” Mr Thompson says.

“One large attraction in the used car market is an aftermarket head unit that has the ability to use Apple CarPlay and Android Auto, as this modification brings your vehicle into line with modern amenities.”

3. DIY jobs are usually a bad idea

“Lacklustre and out-of-the-ordinary modifications can lead to a bad first impression,” Mr Thompson says.

“These modifications – such as body kits, the use of low-quality parts, mismatching tyres and engine modifications – increase the risk of future devaluations from unsatisfactory installations, work to get the vehicle back to its original condition and ongoing maintenance issues, which can lead to longer days to sell and a lower overall valuation.”

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4. Keep everything that came with your car

Holding onto your car’s original keys and relevant accessories – including service logbooks and manuals – can also preserve its resale value.

“Small details all help, such as holding onto all keys that the vehicle was delivered with, making sure all services have taken place at the manufacturer’s service centres, holding onto all documentation, and longevity maintenance pieces such as paint-protection films,” Mr Thompson says.

5. Opt for genuine accessories wherever possible

“Fitting your car with genuine manufacturer aftermarket parts such as tub liners, tow packs and roof-racks instead of non-genuine parts will increase the marketability of your vehicle,” Mr Thompson says.

The post How to increase your car’s resale value appeared first on Drive.

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