How to keep your car’s resale value high

June 14, 2016

You didn’t buy your brand new car with the intention of selling it soon. You likely thought you had many happy miles together in your future. But the reality is you’re not going to drive that car for the rest of your life.

You will eventually have to resell it, something which most people do after about five years. In order to one day sell your car, you need to keep its resale value in mind.

Keep records of all maintenance

It’s important that you keep records of your car’s services and repairs. A prospective buyer will ask to see this in order to know you have regularly serviced the vehicle and kept it in good condition. If you do have proof of the car’s upkeep you will also be able to ask for a higher selling price.

Don’t wait too long to resell

There’s a fine line between selling your car too soon and losing money or waiting too long to sell your car and not receiving enough for the car. Many people think that a car which is just a few years old, which has been well maintained, would be a good purchase to make. But they wouldn’t be as happy to buy a car which was 20 years old and falling apart.

Keep your mileage to a minimum

Your mileage is one of the first factors a prospective buyer of a pre owned car will look at. If you know you’ll be selling within a few years, try to keep the distance you travel to a minimum. If possible, use public transport or a lift club to travel to work. Avoid long trips and drives over the weekend. Try to drive more efficiently, using the shortest possible distances. All of these tips will also help you to save money on fuel.

Avoid accidents at all costs

Not much affects a possible sale more than finding out the car was in a serious accident. Obviously you can’t plan to avoid accidents but you can be cautious, drive the speed limit and obey the rules of the road. These will do much to minimise your chances of being in an accident.

In addition, you should aim to always keep your car in the best possible condition. The AA recommends cleaning off bird droppings immediately, avoiding parking in the sun, protecting the upholstery from stains and cleaning the interior often. “Be vigilant and remember that looking after your car’s paintwork and interior is not only about driving pleasure but also about ensuring the best possible resale or trade in value,” the AA says.

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