How to Retain the Value of Your New Car and Keep the Resale Price High

Buying a new car is simpler than selling it. Most car owners somehow turn into car sellers at some point, especially when they need to trade in their old car for a new one. Also, a car owner may sell their car due to financial constraints, or just to get a better one.

Nevertheless, it is best to think like a car buyer rather than a car owner the moment you want to put your car up for sale.

But what do you do to ensure that your car value stays up and the resale value remains high?

In this article, we will discuss different practices that will ensure that your new car retains its value and its resale mark stays high.

Get Transferable Warranty

Similar to other financial investments, buying a car requires guaranteed assistance in case of technical problems. It will help you in the long-run to get your new car dealers Jackson offer a transferable warranty for your new car.

In essence, a transferable warranty means that you will be able to transfer the benefits of your new car’s warranty to the new owner once you sell it. Perks like transferable warranties attract more car buyers and resultantly gets you better resale offers for the car.

Manage Your Car’s Mileage

Buyers usually check the car’s odometer to verify the mileage the car has accumulated. Fundamentally, your cars mileage shows how much strain the engine has undergone. As such, the more miles your new car accumulates, the more its resale value reduces.

Thus, alternative transport methods such as public transport or car rentals will be a good option when you want to travel long distances.

Preserve Your Service Records

The easiest way to prove to a potential buyer that your car has been properly maintained is through service records. Keeping service records of your new car right from the beginning will give you some bargaining power when negotiating a resale price.

Most car buyers look for peace of mind, satisfaction, and assurance that the car they intend to invest in is well kept and in good running condition. Therefore, you will get a good offer if you are able to prove the car is properly maintained.

Conduct Thorough Research

Primarily, some cars appreciate higher than others. However, there is also a category of cars whose value depreciate as soon as you immediately leave the auto dealership. Hence, before buying a new car, it is best to look at its current resale value in the market. The best way to estimate the resale value of your car is by looking for a used version of the same model.

Market demands also play a crucial role in determining your car’s resale value. For example, low-consumption vehicles were in high demand when online cab services became popular. Since getting a new car was almost impossible due to sudden price hikes, used versions of similar models were in high demand. Therefore, the cars’ resale values were significantly high, with most cars selling at prices close to the initial buying price.

Some vintage car models, on the other hand, are investment vessels used by many people to store and multiply their money. Basically, buying a new model of a vintage car will get you substantial returns after some time.

Refrain from Making Custom Modifications

Most car buyers look for original aspects in a car; paint, rims, and engine. Although custom paints, rims, and other add-ons like nitro-boosts may look ‘cool’, they may reduce your new car’s resale value drastically.

Not unless you intend to sell your new and modified car to another modified cars enthusiast, it is best to avoid making modifications on your new car (especially the paintjob). However, if you have made modifications, ensure to remove them and restore your car’s originality before selling it.

Conclusion

It is the dream of every car owner to recoup as much cash from a used car as possible. However, cars depreciate drastically, and one will need to go out of their ways to align the cars specifications to fit most buyers.