Do you want to eventually sell your current ride for the most money possible? Of course you do! On one hand, you could totally restore it down to the bare metal and do a frame-up restoration — that is, if you had several months and $30,000 laying around. On the other hand, there are far cheaper and simpler ways to maintain your car’s value over the years. If you are looking to trade in your current vehicle, let’s examine a few ways you can preserve your vehicle’s trade-in value.
Records Prove Everything
The single greatest tip when selling a vehicle is to think like a buyer. What do you want to see when you buy a used car? You probably want maintenance records proving that the vehicle was well maintained. When you buy a water pump, you get a receipt. When the oil is changed, you get the invoice. Keep these records — all of them.
“It’s absolutely about service records,” said Richard Reina, Product Training Director at CARiD. “You want a car where there is some form of paper trail. Some record that the vehicle has had maintenance done to it.”
For a real-world example, let’s look at the Porsche 996. This beautiful sports car is known for expensive and sudden IMS bearing failure. If it was serviced with an upgraded part that is more reliable, and you can prove it, your 996 sells for a higher figure than the same car with no records. That unproven car could be mighty costly. Are you willing to take that risk? Other buyers are hesitant too, so keep your records.
Don’t go on “Pimp My Ride”
Automotive modifications can be great, as adding accessories or upgrades can make the vehicle truly yours. Upgrade the stereo for better aural quality, or swap out the wheels for a more attractive set. The problem comes from taking this thought too far though. A quality sound system is a bonus, but a $4,000 mega bass system can make the car less valuable to the average buyer. A very small section of the buying public wants accessories, so skip the fuzzy seat covers and Truck Nutz.
“Modifications that are seen as useful across the board stand a better chance of being accepted on a used vehicle,” said Reina. “A backup camera is a great example. Infotainment systems add value, or are value neutral, as are brakes that are larger and higher quality.”
In other words, it’s best to get a car with the options you want and leave modifications to a minimum. If you make it your dream car, resign yourself to the fact that it likely won’t be anyone else’s dream car.
Keep it clean
Scratched paint and faded clear coat can make a five-year old car look 20. On the other hand, a 20-year old car with immaculate paint and body will inspire confidence and appear only slightly dated. Consistently keeping a vehicle clean and waxed helps protect the vehicle from the elements and UV damage. A nearly perfect exterior and interior suggest it is mechanically sound too, which commands a higher value. A vehicle in perfect mechanical condition with an exterior that looks like its been put through the ringer will not sell for what it’s worth, as no one wants to be seen in that.
Timing is everything
No one wants your convertible sports car in January when there’s ice on the ground. You know what they do want? Your all-wheel drive crossover. Seasonal variations in car sales do exist. The best bet is to sell all-wheel drive and four-wheel drive vehicles just before winter, and sell a convertible or sports car in the spring.
Time to use that free Uber credit
Keeping the mileage low is not really an option unless you have other means of transportation. Everyone likes to purchase a lower mileage vehicle, as the perception is that a car with only 30,000 miles probably has 200,000 miles of trouble-free life left. A low mileage used vehicle is perceived as almost new, but at a dramatically lower price than a new vehicle. So ride your bike, or take public transportation one day a week. Do your best to keep miles off the odometer.
Discover your vehicle’s value
If you’re curious about your current vehicle’s value, and what factors directly effect it, check out our Cardian Angel vehicle valuation tool, which renders an accurate and completely personalized value for your vehicle in 2 minutes time! This lets you know exactly what you have in a potential trade-in, and how its future value might be affected.
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