5 Ways to Increase the Market Value of Your Car

If you are in the market to sell your old or second hand vehicle, it could be a daunting task. Whether you decide to sell it directly to a buyer or trade it in at a dealership.

You must prepare yourself as it could involve some unexpected problems. This can make it difficult for you to sell your vehicle for the best value. And, if you don’t do homework, you can end up getting a lower value.

Here you can check out some helpful tips to improve your car’s value and get maximum return:

  1. Do adequate research

When it comes to selling your vehicle the most important step is to fix a suitable asking price. And this cannot be done without carrying out adequate research about its current market value. So, before you head out to your local auto dealership make sure to do your homework. Otherwise, you will fail to get a price that you deserve for your vehicle.

Thankfully, today everyone can easily do a research about anything. You just need to go online and find out what price other sellers are asking for similar make and model. You must also pretend to think like a buyer so you can set an appropriate asking price.

While negotiating the price also consider the high-tech and advance features that your vehicle may have. For this keep in mind the existing condition of your vehicle.

Take your time in doing proper research to get the best dollar value as a return on your investment. This way you quickly sell it quickly whether you do it privately or with the help of a dealership.

  1. Take it for inspection

Of course, buyers look for vehicles that are perfectly running and well-kept. In order to ensure this they take vehicles for test-drive prior to taking a final decision. So, if you find any type of problems in your vehicle make sure to get it checked. Whether it is as minor as a dent or scratch, getting it fixed will improve the value of your car.

It is better to get it repaired and serviced before scheduling the meeting with your buyers. This will maximize your chances of getting the best price. Always take it to a certified mechanic so you can get it inspected thoroughly. Make sure to save a copy of receipt so you can show it to buyers.

If there is any kind of problem that can possibly occur in the future, don’t conceal it from the buyer. When you are honest and upfront with them they are more likely to pay a fair rate. The moment you sell the automobile you won’t be liable for any potential issues.

  1. Invest some money in detailing it

Although it may seem to be an expensive job but getting your vehicle detailed will increase its resale price. You can either do it independently or get help from a professional mechanic. After spending enough time and money in getting your automobile completely detailed. You can confidently expect to obtain a handsome stack of cash.

So, don’t hesitate to spend money on detailing the vehicle as you can recoup it in the form of higher price. Detailing and cleaning the vehicle will make a huge difference in increasing it’s worth. Most experts recommend to take care of maintaining the vehicle on regular basis. This is an easier way to keep it in an up-to-date condition.

  1. Save each bit of work

After you have got your vehicle inspects and detailed by a professional. Make sure to preserve all the receipts for showing to your potential buyers. It will serve as a reliable source that you kept the automobile in a tip-top condition. Make sure that every receipt must have the date when the repair or maintenance job was done.

Additionally, keep a record of all the insurance claims and any auto repairs that you have done so far. If you are transparent with your buyers it will not only increase your asking price but also infuse confidence in them.

  1. Be prepared for negotiation

When you have done enough research and have a good idea about the average market value of your automobile. It’s time to set a reasonable asking price for it. If you want to negotiate an ideal selling price, always leave room to negotiate. There is a rule of thumb that you should always set a realistic selling price.

Keeping it reasonable is the best way you can make your buyers pay higher for your automobile. You can compare your price to the sale price of sellers on popular auto classified websites like www.quickcarcash.com.au. Never fix a particular price, always leave a margin. If you sell automobile through a dealership, don’t aim to settle for the first price.

More Information

How does car valuation work in Australia?

| August 10, 2018 | John Smith

Articlelab Newsletter