With the growth in technology, cars at present are more dependable than ever before and hence buying a used car is becoming a sensible move, not really considered a luxury anymore and buying a car is not a rare or a bad idea at all. Cars which are five to six years old have a decent resale value and their prices are far lower when compared to that of a new car. Over the years, even car ownership expenses have reduced or dropped considerably.
Your used car need to knows
Keeping all the good news aside, there are some risks when you buy a used car. Sometimes, these bruises are hard to miss and by the end of it, you end up paying few thousands more than you actually should. Used cars tend to face crossroads in their life that act as milestones which affect the vehicle’s value. The price you get for your car is entirely dependent on how desirable your car is and also what the car, the brand, make and model. An important factor to note is whether the car model you possess is sought after or just another one of those vehicles out there.
The selling of your vehicle should be handled in a manner such that the offer is as appealing and tempting as possible. This denotes that minor fix ups, stains on the seat, burned out taillights and that layer of dirt need to be taken care of as you don’t want the dealer to be under the impression that you did not take care of the car in a proper manner. Any dignified dealer would not sell a vehicle which is full of dents, scratches, dirt and stains. Few rupees spent now will repay itself during the time of sale.
In general, the value of most assets as they age appreciates. Cars unfortunately do not fall under this category and their value depreciates by 20% immediately after they are driven out of the showroom. It is possible to improve the resale value of your car in the long run by keeping it in good condition and by allotting expenditures prudently.
Listed below are some ways to help you keep your car in top order and retain its value for when you want to sell it.
• Fancy equipment like stereo systems, navigation etc. are trimmings which car owners install based on their preference. But all this will not necessarily retrieve costs at the time of resale and hence it prudent to be cautious while installing pricey music systems. But additional accessories such as iPod connectors not only protect the dashboard but also preserve the value of the car.
• Regular maintenance and check-ups are advised by all cars manufacturers.This includes checking oil levels and using better grade oil. Another important factor is tyre pressure which, if not looked into can affect the performance of the tyre and safety. Mileage can improve significantly with properly inflated tires. Performance can also be affected by air filters which need to be changed at some point as also other required oils and fluids too.
• These instructions are carried out depending on factors like driving conditions etc.
• If all the above points are looked into closely then it can definitely increase the lifespan of your vehicle.
1. Keeping receipts and a record of all the maintenance done will help the dealer know that the car has been maintained well and at regular intervals. This will ensure a better price.
2. An important factor in determining the value of your car is the mileage output at its age. If the mileage is on the lower end then the depreciation value grows at a slower rate.
3. Cleaning your car periodically will not only add to the value of the car at the time of sale but also make a lasting impression of a well-kept vehicle. Keeping the car clean in its interiors is also essential.
4. Avoid stains due to eating and drinking inside the car.
5. The surface of the car trim, paint and mouldings can fade and become dull due to extreme exposure, temperatures like excessive sunlight or extreme cold. Hence, it’s imperative to park your car in a shaded area to protect the vehicle as much as possible. Ultimately, a nice looking car without faded paint and dents increases the appeal and the value of the car.
6. In order to avoid problems, small or big problems whether cosmetic or even mechanical should be taken care of without delay.
7. Extreme wear and tear can be dodged by driving smoothly and carefully and not resorting to the start and stop driving.
Also Read 10 Tips To Clean Your Car
What’s it all about
Everyone is looking to make the most out of their investments and your car is only second in line to your house. By staying on top of maintenance and cosmetic issue, you can not only get your car to last longer but also get a good value at the time of resale. Resale value includes a combination of the car’s age, mileage, general condition, equipment levels, popularity and supply. Certain factors lead to depreciation over time but some elements can be taken into consideration at the time of purchase. With some simple steps, it’s possible to increase the value of your car and make the most in terms of money offered when it’s time to sell. Protect it now and reap benefits in the future!
For a good used car valuation guide, information, updates and news from the world of automobiles, visit IBB and learn a thing or two you didn’t know or was not aware of and also update and stay abreast of the latest vehicle launches.