Five tips to get the best resale value for your car

Resale value of cars: A vehicle’s value in a second-hand car market is determined by multiple aspects. The resale value of a car is the price, which the owner gets in the used car market when the car is for sale after using it for a period. The price of the vehicle is depreciated due to several factors like the age of the vehicle, kilometers piled on the odometre, and market demand of the particular variant. Cars value may be depreciated by around 20 per cent to 50 per cent over a period of time. Critically, as the number of ownerships for the vehicle increases, the car’s resale value decreases.

To improve the car's resale value in the market, consider maintaining it well. Here are the steps to get the best resale value for your car:

Routine Care:

The maintenance of the car should be done regularly and the service should be done regularly, such as oil changes and brake inspections, is important for a car. The service records can prove to buyers that the car has been well managed by the owner, and help to enhance the resale value.

Address Repairs Promptly:

All the necessary repairs to the car should be done timely. The record of it should be maintained. This will help in the longer life of the car and better value at the time of resale.

Maintain Kilometres on Odometre:

The car owner should try to restrict piling excessive kilometres on the odometer while selling the vehicle. Lower kilometres on the vehicle’s odometre typically summarise a higher resale value of the car and hence, influence getting a better price in the market.

Keep Records:

All of the car's records, including service records, registration certificates, insurance policies, and so on, should be kept in good condition. This helps to build the buyer's trust in the pre-owned vehicle.

Get a Fair Valuation:

Always carry market research about the value of the car to get a competitive price for your vehicle, before selling the car in the used car market.