How To Increase The Resale Value Of A Used Car

We always want more from a car that we buy. “Value For Money” is the coined term that we keep going back to during the buying process. But when you sell your car, you are faced with depreciation. Harsh reality: your car loses its value the instant you drive it from the showroom. Here is a list of things that you can do to increase the resale value of your car.

Valuate The Right Price For Your Car

A new car in the showroom comes with a price tag. Your used car does not. It is completely up to you to figure out what your car is worth. If you price yourself too high, buyers will simply move on to the next option. If you price yourself too less, buyers will come swarming, but you will lose out on money. Consider the age, condition and the current selling price of your car in the showroom to arrive at a nominal price. If you are not sure, you can approach certified dealers such as Gaadi Bazaar to help you valuate the price of your car. You can also use online valuation tools to arrive at a value close to the actual.

Document Your Documents

Well maintained documentation will increase the resale value of your car. Furnish all documents regarding your car to the buyer. This gives the buyer a guarantee that he/she is buying a genuine car. Before you post your car for sale, ensure you have all documents such as registration certificate, updated insurance policy and pollution certificate. Also keep warranty documents of battery, tyres or any other accessories handy and safe.

Maintain The Car’s Service History

Ensure you ALWAYS service your car at the manufacturer authorised service centres. Authorised service centres have all service records documented and use only genuine parts. When you want to put your car for sale, you can get a copy of all the service records. This will help you negotiate the price of the car and will increase the resale value of the car.

Clean Your Car

It’s not just you who needs a clean-up before taking a photo. Your car does too! Looks do matter as they can grab the attention of potential buyers. Clean the exteriors and the interiors thoroughly. Blacken the tires, polish the paint and vacuum the seats. If you really want to step it up, take your car for a professional clean-up to give your car a brand-new look. And yes, use professional cameras to take clear pictures of the car if you are posting it online.

Advertise All Features & Accessories

Got a new infotainment system to rev-up your car driving experience? Did you upgrade your HID or halogen lights to LEDs? Did you gift your car a sound system? Aftermarket tech and in-built features of the car are worth some extra money as well. Some buyers give much importance to these features during a used car sale. Make sure all add-ons are working fine before showcasing them.

Service Your Car

A general service will include top-up of engine oil, transmission oil, and brake fluids. These are some of the major components that a potential buyer would check during the pre-car inspection before the test drive. You can also request to correct any noises or vibrations due to door hinge screws or other minor issues, making the ride silent and comfortable with no buzzing sounds.

Owner’s Manual

Your car’s owner’s manual has information regarding the exact model and make of your car. It also includes other car specific information such as chassis number, VIN number (vehicle identification number), frame number and tire configuration and rating, which you may not get readily elsewhere. Buyers generally tend to verify these numbers against the numbers printed in your car for authentication.

Spare Wheel, Spare Key & Tool Kit

You expect these to come along with your car when you drive it first time from the showroom. Just the sheer presence of the tool kit and spare wheel in your car gave you both satisfaction and a worry-free drive. When you provide these to the buyer, you provide them the same satisfaction that you once felt. Ensure the spare wheel is in working condition. Else we suggest you replace it. Providing the buyer with the spare key shows how much you care for your car and how safe you have been maintaining it. Extra money for extra care!

This list is a reminder of how you should maintain your car and about the things you should safeguard. Surely, it is not something difficult to do. Adhering to this list could help you to increase the resale value of your car by 5 to 10%.

GaadiBazaar, an initiative by Chola, is a trusted online platform that helps you buy and sell used vehicles at the best price in an easy, hassle-free manner. It is the perfect platform for customers looking to buy/sell used passenger and commercial vehicles. All vehicles on GaadiBazaar are 100% Verified & Certified.

Leave a Reply

Your email address will not be published.