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Top Tips For Getting The Most Resale Value Out Of A Car

On Wednesday, May 18th, 2016

Cars are a big factor to consider economically. Not only are they one of the biggest ongoing costs of our lives. For a lot of us, they tend to be one of the most expensive assets we’ll ever get our hands on as well. Unlike other assets, cars start to depreciate immediately. There’s nothing you can do about it. It’s a fact of life. As soon as you buy a car and take it down the driveway, it begins to depreciate. However, you can influence the rate at which it depreciates. Below, we’re going to look at how, exactly, you do that.

Vintage Classic Car

The choice of car

The car that you’re looking to sell plays a big factor just by being whatever kind of car it is. When you’re buying a new car, you should be considering what kind of resale value it will have down the line. Some brands, like Toyota and Honda, are known for reliability. The longer a car can be expected to last, the better value it’s going to get. Same for the notoriety of how often it needs to be taken to the garage. The less trips needed, the better. Other cars have resale value simply because of the marketability of it. Old muscle cars and 4x4s like Land Rovers fall into this category.

The maintenance

The fact that you keep the car running well is absolutely vital to its resale value. For one, it needs to be able to stand up to a test drive. Secondly, a lot of cars tend to come with records of how often they’re supposed to be serviced. If you’re lacking one of these or it isn’t up-to-date, expect that to immediately cut some of the value your car. Establishments like Currie Motors Used Toyota can help you look after the cars you get from there long in advance. When you get a car, consider getting it from a place that offers long-lasting service afterwards. These kinds of agreements tend to save you some money in the overall maintenance costs of a car.

The details

Taking care of your car isn’t all down to how well it runs, however. When people buy cars, the first thing that’s going to attract them is how it looks. If your car Is beaten up and covered in scratches, be surprised to find that it even gets a look, never mind good offers. Before you hang that for sale sign on the window, consider giving it a bit of a makeover. Before you spend too much money, consider how much value it’s likely to add. It’s usually worth it, but not always. What is always worth it, however, it the interior. Get rid of any smells and give it a very thorough clean. Unless you have to replace materials, all this is going to cost you is a bit of elbow grease.

Besides the car you buy, itself, keeping resale value in a car is all about how well you take care of it. The better condition it’s in, the more likely it is to get a good price.

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