In today’s fast-moving world, our vehicle preferences and needs can change in the blink of an eye. That shiny, fast, fuel-efficient sedan that you purchased a few months ago will eventually be upstaged by a better model and you’ll find yourself wondering how much you could fetch for your current ride. To retain your car’s resale value, focus on these key points:
1 – Make a mainstream purchase
Cars are a great way to express your individuality. You can buy them in all sorts of colours, shapes and sizes; you can plaster stickers all over the bumper or install specialised parts to make your car louder or faster.
However, when it comes to re-homing your vehicle, the more standard your car is, the better. Consider this list of Australia’s five best-selling vehicle makes in 2015: Toyota, Mazda, Holden, Mitsubishi and Nissan topped the list as the most popular vehicle manufacturers. What do all these companies have in common?
They produce reliable and stylish vehicles that meet the demands of budget-conscious commuters. Every once in a while, a new model comes on the market that shakes things up for a couple of years, but you’ll be better off sticking with time-tested brands when it comes to your car purchase.
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2 – Avoid uncommon colors
Although you may think of your bright yellow SUV as the greatest thing to come off of the production line, others may be immediately turned off by the unusual colour. In order to get the most bang for your buck, it is smart to stick with basic colors, like black, white, silver and gold.
3 – Get an automatic vehicle
By buying a car with manual transmission, you are reducing your pool of prospective purchasers. Manual cars can be a pain to handle in stop-and-go traffic, and many modern drivers would need a thorough set of step-by-step instructions to operate a manual car. So, even if you have fun pretending to be a racecar driver with your manual vehicle, give some serious consideration to buying automatic.
4 – Be careful with upgrades
Don’t be enticed by the idea that a sunroof, heated seats or in-vehicle GPS will heighten your car’s resale value. If you compare similar vehicles at any car dealership to see if extras make a difference, you’ll find that cars with add-ons tend to be priced similarly to cars of the same model that have no bells or whistles. So if you opt to pay several thousands of dollars extra for leather seats, realise that you should base that decision on your own enjoyment and needs rather than the car’s resale value.
5 – Buy car mats
It might seem like a small detail, but keeping your car’s carpet clean is an excellent way to preserve its resale value. Car mats cost as little as $150, and they’ll shield the floor of your ride from spills, stains, pet hair and other forms of wear and tear. When your mats get ratty, simply invest in a new set to keep your interior fresh.
Another way to preserve your car’s resale value is to service it regularly to make sure it is reliable and well maintained for its next owner.
Although it takes a bit of effort to retain your car’s resale value, when it comes time to find a new home for your four-wheeled friend, you’ll be glad that you made a wise purchase in the first place. To learn more about this topic, download your free infographic ‘How to Maximise Your Car’s Resale Value’