Cars are a necessity. Unfortunately, not many people are considerate about the maintenance, which affects the resale value of the car. The resale value is the price the vehicle will fetch when the owner decides to sell it. That said, if you are looking to increase the resale value of your car, here are some tips you need to know. You will also know why you should install paint protection film and other features to get a better price for your car.
Make And Model
The first factor affecting the resale value of your vehicle is the make and model. Some vehicles inherently have more value than others. This means that if you are planning to buy a vehicle, make, model and variant are some of the first aspects you need to look at.
Every manufacturer produces multiple variants of the same vehicle to target customers from different price segments. For instance, the base models are usually for those who do not want the extra features or accessories or do not have the budget for an upgraded variant.
Meanwhile, the limited edition and upper variants are targeted at those who are looking for fully loaded options. Of course, there is a huge difference in the prices and that too depends on the make, model, type, and variant.
In the future, if you intend to sell the car and want to negotiate a good price for it, you should look for the same vehicles and their prices. Compare the condition of your vehicle with those listed and set a price that not only attracts buyers but also gives you the flexibility to negotiate.
The condition of the vehicle has a huge role to play in determining the resale value of a vehicle. It is the only factor that is relevant regardless of the make, model, and type of the vehicle as it applies to all. So, if you are planning to buy or sell your vehicle, it needs to be in great shape for you to be in a strong position to negotiate.
Vehicles that are ignored tend to fetch a lower price. This is because the buyer already has multiple options in hand and will need to spend some money on fixing the vehicle as well. So, this does not leave you much space to negotiate.
To keep your vehicle appearing as new, you should invest in some car care products and perform regular maintenance. The exterior as well as the interior combined with the mechanical condition of the vehicle tells a lot about its care.
That said, even if the vehicle is a year old and has scratches, unusual sounds, or a faded interior, it will fetch a lower price than the same types in a better condition.
Age And Mileage
Mileage has a greater effect on depreciation than age does. Vehicles that have high mileage fetch a lower price than vehicles that are comparatively less driven. This is because as the vehicle is driven, the components and parts tend to become weaker.
So, if you have two vehicles at the same time, one with a lower mileage and the other with a higher mileage, buyers will most probably negotiate for the one with the lower mileage. However, that does not mean the vehicle with a higher mileage has not been looked after.
Even though some vehicles are driven thousands of miles but still run as well as the new ones. If the vehicle is in good condition and the seller can produce maintenance records, the vehicle might be able to fetch a price near the expected.
Vehicles come with all types of features related to safety, luxury, convenience, etc. As mentioned earlier, the difference between the base and higher models is based on the additional features, trims, etc. For example, a base model variant might not have climate control while the upgraded version comes with one.
These car features and accessories combined make a lot of difference in terms of resale value. If your vehicle comes with features and accessories that are not available in any other vehicle, you will be in a lot better position to negotiate a better price.
However, if the vehicle happens to be old, the resale value will be slightly less as the chances of the electronics breaking down are higher. On top of that, you should look for safety features as well which are vital for vehicles.
Although the price of such vehicles is high but is worth it especially if you have to frequently travel on highways and motorways.
Paint Protection Film Installation
Paint protection film or PPF is a clear plastic film that is applied to the exterior of a vehicle to keep its paint and body in pristine condition. It’s like putting your car in a cover to protect its paint from chips and scratches.
When potential buyers see vehicles with PPF on them or if you remove the PPF for showing the scratch-free paint of your car, they will likely consider it even for a higher price.
Car Window Tinting
Another similar investment you can make is auto window tinting Springfield. Many people like to tint their car windows and if your car glasses are already tinted, the buyers will know that they won’t have to install a tint film for a few years. Moreover, the tints will ensure the interior doesn’t fade too soon.
Vehicles regardless of the type, make and model need maintenance to keep them looking and running like new. Apart from the oil change, the exterior of the vehicle also needs attention to prevent rust and fading. However, the maintenance is different for every car.
Supercars need more attention and routine maintenance due to their high prices and performance factors. Meanwhile, regular sedans require less maintenance as they do not carry high-performance engines and are made to be as efficient as possible.
While selling your vehicle, the buyer will ask for the maintenance records. If the vehicle is mechanically well-maintained, you are likely to fetch a better price. But, if you were lazy with the maintenance, the buyer will most probably assume that it is a neglected vehicle that might fetch a lower price than expected.
Tires hold significant value in terms of safety and do not come cheap. If you live in a region that experiences extreme weather conditions mostly throughout the year, the tires need to be in good shape to help with traction. Considering the costs of the tires nowadays, it is important to keep them inflated as they can affect the fuel economy as well.
Furthermore, you should rotate the tires and also do wheel alignment to avoid unnecessary complications. Using worn tires can also affect the suspension of the vehicle. And, since tires are noticeable, buyers will take a close look to determine whether the vehicle was looked after.
Fix Minor Issues
Modern vehicles are equipped with electronic features. With time, vehicles can experience some minor electric and mechanical issues. As long as you are fixing them on the spot, you should not have a problem. However, if you ignore them, they might affect other components and decrease the resale value.
Therefore, before you decide to sell your vehicle, fix the small cosmetic, mechanical, and electronic issues to ensure the vehicle is in good running condition. Some buyers are very conscious of the minor factors and will negotiate accordingly.
Increasing the resale value of your vehicle is all about maintenance and the amount of time and effort you put in. It is easier to maintain a vehicle if you follow a proper maintenance schedule. This helps prevent things from breaking down. And to keep your vehicle looking new, get PPF installed from a protective car film shop Springfield.