Avoid these four things if you want to keep your car's resale value.

When you drive a car out of a dealership, 11% of its value is lost due to depreciation. For the next five years, you will lose between 15% and 25% per year, assuming you drive 10,000 to 15,000 miles per year. After 5 years, your car will be worth approximately 35% of what you paid for it at the dealership, depending on the brand and model of your vehicle.

Its worth will gradually deteriorate over time. Aside from the mileage factor, the condition of a vehicle can also affect its value thus, taking good care of your car is essential, as even the smallest discrepancy can result in a lower valuation. Speak to a trained technician next time your car is in for a scheduled car service in Reading.

To avoid this, we strongly recommend that you to avoid the four practises listed below, as they may have an impact on the resale value of your vehicle:

You've misplaced your car documents - When you finally sell your car, buyers will usually look into your ownership history. In order to do so, they will require supporting documents such as your service booklet, registration documents, official receipt, and other necessary papers. This is why it is critical to keep track of your vehicle's documentation in order to properly present its history and roadworthiness after the initial ownership period. The more accurate the records, the better your chances of convincing the buyer and closing the deal. If you have misplaced any documents but remember which garage you had work done on your vehicle, simply search online for full car service near me and request the garage for duplicate receipts.

Cosmetic damage - As previously stated, maintaining your vehicle is essential. Given that the overall exterior and interior appearance may have an impact on its resale value. Paint should be meticulously cared for, washed on a regular basis, and waxed at least once a month, or better yet, invest in a paint protection film with a ceramic coating. If your car has scratches or other damage, it is best to have it repaired to keep its good looks. You must maintain a clean environment inside your car's cabin, just as you must maintain a clean environment outside. Everything, from the dashboard to the carpet, and especially the seats, must be cleaned on a regular basis. Remember that minor blemishes, scratches, and dents can have a negative impact on the sale of your vehicle. As a result, it is best to have it repaired or, better yet, avoid it entirely.

Putting off regular car maintenance - Everyone must adhere to their vehicle's maintenance schedule in order to keep it in working order. Nowadays, new cars come with a service booklet that records your previous oil changes and other periodic maintenance services from your trusted dealer or car service near me. Some buyers will look through these booklets to see if your car has been properly maintained over the years. Aside from retaining its market value, you are also protecting your car from future problems. Regular maintenance should allow you to immediately address any minor repairs that are required, avoiding the occurrence of larger problems later on.

Modifying your car - Finally, while modifying your car can be a fun activity, it can also have an impact on its resale value. Because not everyone enjoys aftermarket accessories, you should refrain from over-personalising your vehicle, as this may result in a decrease in its value. Keep stock parts on hand, stick to bolt-on modifications, and avoid fabrication or accessories that may be too invasive. By doing so, you can easily restore your car to stock condition and even include the parts as a bonus if the buyer is willing.

Frequently Asked Questions (FAQ’S)

What factors influence the value of a car?

Maintaining your vehicle on a regular basis, making repairs, upgrading features, having the proper documentation, and having it appraised by a professional can all help increase the value of your vehicle when you sell it.

Is it true that modifying a car reduces its value?

The short answer is that they do, and mostly negatively. Modifications, depending on the car but especially the buyer, can significantly reduce resale value because, simply put, cars are built to spec for a reason.

What factors influence a car's resale value?

In summary, the main factors influencing the price of a used vehicle are mileage and condition. Options, location, and colour are also important considerations. ... “Even a low-mileage vehicle can sustain more than its fair share of wear and tear, lowering its value.