Your car is something that is probably very important to you. It’s something that can get you from one place to another, give you a sense of independence and can often be an extension of your personality. However, it is also a significant financial investment which means that when you come to sell it, you will want to get as much money as possible for it.
There are a number of factors that can affect the value of your car, including how you care for your car and how long you hold on to it, so in this article Mudd-E take a look at the things that you can do to maximise the value of your vehicle.
Age
Unless you are dealing with a vintage model, cars will depreciate with age. It is estimated that two identical cars with the same mileage can vary in value by 2% just because one is a year older than the other. This means that you can lose a substantial amount of the value of your car the longer that you hold on to it, so this should be factored into your plans.
Service history
When selling a car, one of the first things any garage or potential buyer will look at is the service history of the vehicle. This is a big indicator in how well it has been looked after and can show that an expert eye has been cast over it on a regular basis.
A full-service history can show that the car has been cared for and can also allow a buyer to see what work has been done on it, so that they know what bills they might have to face themselves. It is thought that a full-service history can impact the value of a car by as much as 7%, and full dealer service can be valued at even more, so it is worth making sure that you have a comprehensive record of your services.
Modifications
Many people now have modifications done to their cars, and it can have an impact o the value, but not always for the better. Some modifications are a matter of taste, so a vinyl wrap, lowered suspension or large rear wing will narrow the number of people that might be interested in it, which can then affect the value.
Most buyers prefer unmodified vehicles as it can give the impression that the engine has not been treated well or it will be difficult to ensure, so either avoid making modifications or remove them before you put it up for sale.
External condition
If there is any damage to the bodywork of your car, it can impact the value, so it may be worthwhile getting dents and bumps fixed. Buyers will expect a certain amount of wear and tear on a used vehicle, but bigger issues can be a lot more off putting. You should ensure that damage is put right, and larger scratches and scuffs are polished or resprayed.
You should also take the time to check everything is working, as it only takes a broken bulb in a brake light to make a buyer think that the car has not been taken care of.
Internal condition
The inside of a car is something that is often overlooked, but we spend more time looking at the inside than the outside, so it also needs attention.
Make sure that you use things like seat covers and boot liners to protect the upholstery of your car. This will help to avoid stains, scratches and other types of damage, and maintain the value of your vehicle. You should also look at putting new car mats into your vehicle, as it can help to give the impression of being new and fresh.
Mileage
The number of miles that your car has travelled during its lifetime is likely to have a big impact on what it is worth. High-mileage cars tend to have experienced more wear, and so the upkeep on them can get expensive. This puts buyers off, and estimates show that every 10,000 miles on the clock can knock 5% off the value of your car.
Colour
You might think that the colour of your car is one thing that won’t make a difference to its value, but you would be wrong. Whilst there are a number of colours that are considered to be standard, there are a few that are less common. Some of these are extremely sought-after and can send the value rocketing, however, others are not as popular and can actually cause the value of the car to plummet, so make sure that you choose wisely.
Make and model
The make of your car will always impact how much it is worth, as some are considered to be prestige, sport or luxury brands that people are generally prepared to pay more for. A lot of buyers will also pay attention to the model, as some are very popular, and more unusual versions of a certain model are likely to be worth a lot more money.
Overall condition
When you come to sell your car, you will want to show it in its best light in order to achieve its maximum value. The first way to achieve this is through a deep clean on both the outside and the inside, not forgetting under the bonnet as well.
This will help to show it off and get rid of any unpleasant odours that might be lurking. You should also check your fluid levels and tyre condition and deal with any issues that this creates so that the car is running smoothly on the day.
Your vehicle has the potential to be worth a lot of money, but much of this will depend on how you look after it and how you present it. Sometimes, it can be worth spending some money on the vehicle as well as investing your time, to help it achieve its maximum value when you decide to sell it.
