5 Surprising Things That Affect Your Car’s Resale Value and How to Boost It

Car’s Resale Value

Ever wonder what happens to the shiny new car you drive off the lot? Well, brace yourself: Melbourne cars lose an average of 15% of their value yearly! That’s like your cash melting away with each passing mile. But before you get disappointed, you can still boost your car’s resale value by knowing important factors. 

There are factors beyond mileage and model that affect a car’s value and make or break its worth. In this blog, we discuss the secrets you don’t know about your car’s resale value.

Factors That Surprisingly Affect a Car’s Resale Value

Remember the thrill of buying a brand new car? That shiny paint, the smell of leather, and the promise of countless adventures. But let’s face it. Cars lose value quickly. But before you start worrying about your car’s depreciation value, there’s good news. You can actually boost your car’s value.

When selling your old car in the market, there are a few factors you should know about the resale value of vehicles. Let’s explore those factors:

  • Service History

One of the most powerful factors in a car’s resale value is its service history. Imagine browsing used cars. You find car beauty, but the service history is full of DIY adventures. It’s a total red flag, right? 

A complete service history tells a story of proper care and attention, like a car’s health report. Buyers know they’re getting a reliable vehicle, less prone to expensive repairs. 

Regular maintenance with OEM parts is like putting money in the resale value bank. Each oil change, tyre rotation, and filter replacement add a deposit, making your car more valuable down the road. 

Even we buy cars with a documented history of care for a much higher price than otherwise. So, prioritize those checkups, stick to OEM parts, and keep those service records handy!

  • Fuel Efficiency

With petrol prices reaching new heights, it’s no surprise that fuel efficient cars are in more demand in Melbourne. Forget traditional vehicles, as informed buyers are hunting for cars with good fuel efficiency. 

Think hybrids and electric vehicles (EVs) leading the market. These eco conscious vehicles not only save you money at the pump but also fetch higher dollars when sold. Studies show that used hybrids can retain up to 60% of their original value, while EVs can hold steady at an impressive 50%.

We also keep a finger on the latest trends and offer competitive cash for cars Geelong for all types of vehicles even if they’re not fuel efficient.

  • Unexpected Features

You might think your car’s value relies only on mileage and model. Think again! Certain factors can be real game changers in the resale value. 

Sunroofs attract buyers, heated seats warm their hearts, and advanced driver assistance systems like lane change warnings are proof of safety and security. These features make your car stand out and potentially fetch a higher price.

  • Hidden Damage

That tiny scratch on the bumper and the barely there dent in the door may seem like minor issues, but such hidden damage can be a major resale issue. Think of it like a rogue gremlin in your car, silently chipping away at its worth.

Even minor accidents or unrepaired dings can send buyers away, picturing hidden structural issues or costly repairs. Remember, first impressions matter. A car with visible damage screams caution.

But there is good news. You can boost your car’s resale value with professional repairs. Don’t underestimate the power of a fresh coat of paint or a dent expertly smoothed out. You’re giving your car a facelift to attract more potential buyers. 

A few strategically placed touch ups can make a world of difference in private buyers’ eyes. However, if your car is totally damaged, we are a scrap car buyer that will remove it without needing you to get any repairs.

  • Mismatched Tyres

Picture this. You’re browsing used cars and like one. But wait. It has mismatched tyres. A vehicle with mismatched tread, size, or brand means neglect and potential safety hazards. Buyers will think of bumpy rides and uneven wear.

Mismatched tyres can indeed impact handling, performance, and even fuel efficiency. And in the resale game, these whispers of trouble can lower the price tag. 

So, before you put your car on the market, make sure all four tyres are aligned. It instils confidence in buyers. 

Tips to Boost Your Car’s Resale Value

Here are a few quick tips to boost any used car’s value:

  • Regular maintenance with OEM parts shows buyers you care for your car.
  • Research online tools and unwanted car removal companies to understand your car’s value.
  • Hybrids and EVs get you top dollars, while fuel inefficient cars gather dust.
  • A few extra features can make your car attractive to potential buyers.
  • Fix the hidden damage like scratches and tyre issues before selling.
  • Give your vehicle a thorough cleaning and detailing from the inside out.
  • Strike a balance between attracting buyers and maximizing profit.
  • Capture your car’s beauty with high quality, well lit photos for online listings.
  • Disclose any issues upfront to build trust with potential car buyers.
  • Be prepared to discuss your price, but don’t undervalue your car.

Conclusion

Understanding the factors that boost your car’s resale value is important for maximizing your profit. From service history to hidden damage, every detail plays an important role. You can turn your car into cash with smart choices and a touch of Cash For Cars Melbourne magic. For a free quote, call us on 0466 449 933.

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