Top 5 Things That Decrease Used Car Value
If you are looking to sell your car then you want to get the most for your money, right? Well then don’t do anything to hurt your used car value. Here the top five things that will do the most damage.
Number 1: Lack of Maintenance and Maintenance Records
If you neglect your car, then it shows. Things like regular fluid, filter, and belt changes go a long way in how smoothly the engine runs. A noisy engine is sure to turn off any potential buyer. Also, keeping good records of service visits helps back up the fact that you took good care of the car. Written proof of tune-ups and inspections increase the value of any used vehicle.
Number 2: Aftermarket Modifications
Most people want to buy a car that looks like it came from the factory. You might like a huge spoiler and tinted windows, but many buyers will not even look at modified vehicles. In some areas these add-ons might even be illegal, further cutting down the chances of a sale. So even though you think the wheels are cool, think twice before installing them on your car. Some other mods to avoid:
- Lowering or underbody spoilers
- Special lights and running lights
- Unusual paint jobs
- Aftermarket engine upgrades (turbocharging, remapping, tuning, etc.)
Number 3: Mileage
It might seem obvious that cars with lower mileage sell better, but are you conscious about how you are using your car? Share rides with friends, walk, bike, or take public transit when you can. Over the years this adds up, and the lower odometer reading will attract car buyers.
Number 4: Dirty (And Smelly) Cars Sell Less
If you think that your potential buyer can see past the dirt, then think about this. When you go to the supermarket to buy food in a sealed package, would you choose the box that is clean or the one covered with dust? The same goes for cars. When you take photos or are going to show it, make sure the car is spotless – inside and out.
Also, deodorize your car as best as you can. Do your best not to smoke or let others smoke inside the vehicle. Smoke smell is notoriously hard to eliminate and will discourage buyers.
Number 5: Small Dents And Scratches
Even tiny imperfections can attract a lot of attention. Take the time to get small defects repaired, and you will see your car’s resale value go up. A crumpled bumper might cost you a few hundred dollars to fix, but you can figure that into your sale cost. Or, sell it for less. Either way you make the same amount of money, but you might not attract as many would-be buyers.
How To Increase Used Car Value
Basically, just follow the advice mentioned above. You can also entice car shoppers with extras like a certified pre-purchase car inspection. This means that a qualified inspector checked out your vehicle, and you can provide this report to potential buyers. This third party evaluation could go a long way in making a sale.
