The value of a car generally goes down approximately 65% after about 5 years of normal driving. Once you have decided to purchase a new or newer car it is tempting to quickly settle for the best offer you can get on your old car. Before hastily putting a "for sale" sign on the back window and placing an ad in the local newspaper, you should take advantage of a few simple and fairly inexpensive tips that will enable you to get several hundred dollars more than you otherwise would. There are other things that you should always be doing in preparation for the time when you will want to sell your car.
Washing and Detailing
Although this should be obvious, it is amazing how many people neglect to do it. Improving the appearance of a car both inside and out will greatly improve its perceived value. Your vehicle may be in superb mechanical condition, but if it doesn’t look clean and polished the car’s resale value might take a hit. It is well worth the investment of detailing and washing the car, regardless of whether you do it yourself or have a professional do it.
Limit Upgrades
Strangely enough, upgrades often decrease a cars resale value. For instance, adding a custom stereo system probably seems like a good idea, but modifications usually lower a car’s resale value. If you do upgrade your vehicle, you should keep the original parts so that it can be easily reverted to the original factory condition. Many experts suggest that you resist the urge to customize if you want to get top dollar when you sell the vehicle.
Keep your Car in the Garage
If you live in an area with harsh climate and severe weather, you should keep it in a garage. If you don't have a garage, consider using a car cover. This will make a huge difference in how your car looks.
Maintenance
One of most important and practical things you can do to maintain top resale value on it is to strictly adhere to the maintenance schedule including regular oil changes per the guidelines in the operator's manual. Be sure to document all of these things. A shrewd buyer will be as concerned with the mechanical condition of the vehicle as they are with the looks of the exterior.
Repair all Known Issues
Used car buyers love hearing that they’re buying a car with new parts. It instills trust when the seller is willing to spend money on repairs even though they won’t personally benefit from them. Whether it’s a new set of tires, seat covers, windshield wipers or spark plugs, these repairs give the impression that all known issues have been fixed and the car won't be in need of immediate service.
As simple as these things are, they will make a huge difference in being able to sell the car for the highest possible price. You can usually get more money for your car by selling it yourself rather than using it as a trade-in on your next car purchase. When you purchase your new car, be sure to choose one that holds its resell value well.
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