Six ways to increase the resale value of your vehicle

After years and thousands of miles of driving your car, you might be now thinking of replacing your current ride with a new one. To mitigate the costs of buying a new vehicle, you might be considering reselling your current unit.

But of course, you would want to squeeze more value from the sale. Thus, you would want to keep the resale value of your car as high as possible.

Here are some tips by which you could make your car as valuable as possible by the time you resell it.

1. Purchase a vehicle with high resale values

Purchase a vehicle with high resale values. There are surveys and studies that actually measure a car’s resale values based on its reliability, make and model. Take time to research on which models are likely to retain high resale values. The resources are there, you just need to take time and do some extra research.

2. Schedule regular washes and waxes for your vehicle

Schedule regular washes and waxes for your vehicle. You don’t really need to wash your vehicle everyday; a simple wipe of the exterior would suffice. However, that doesn’t mean you don’t have to wash your car.

Washing gets rids of dirty matters – dust, mud, bird droppings and others -- that could eat away the exterior paint. Waxing, meanwhile, doesn’t only make your vehicle looks good, but it also adds a layer of protection. A shiny car without dents is easy to sell.

3. Make sure that the interior is also clean

Cleaning isn’t exclusive to the exterior. The interior also needs some cleaning every now and then. Dirt, dust, spills and greases could damage the interior of the car including its seats, doors, steering wheel, dashboard and center console.

Get rid of them immediately with car wipes or towels. You might also want to vacuum your seats and floors. Remember, a good interior also contributes to the resale value.

4. Find a good storage place

Protect your vehicle from the elements like the sun and salty air. A covered garage is always advisable, but if you don’t have one, a car cover would suffice.

Do proper maintenance

Making sure that your car is in good working condition keeps you safe on your travels. Likewise, a car – even though it is old – would be easier to resell at a high proper if it is working well.

Thus, make sure that your vehicle undergoes regular tune-ups and check-ups, as well as servicing. Keep the receipts and record these events to show to a potential buyer that your car is indeed properly maintained.

6. Do some fixes before reselling

By the time you decided to resell your car, some issues may pop up. Fixing these would increase the resale value of your car. Yes, fixing them may cost money, but it is usually less than the amount that could be knocked off the price if you leave the matter alone.

For instance, fixing one thing might cost $200, but if you don’t fix it, the resale value of your car would drop by $500. By fixing the issue, you might earn more.