Old Wine in a New Bottle: How to Maximise a Car’s Resale Value

by Central Point Mot Centre Welcome to Central Point MOT Centre, Coventry

According to statista, almost 57% of all cars on the British streets are second-hand models. More people are buying used cars simply because they are essentially value-for-money. Buying a used car not only saves consumers money, but a well-maintained car with the appropriate servicing history drives better than an average new car.

On the other side of the spectrum are the used-cars sellers. They can get an astounding price for their years-old car. However, consumer awareness is at an all-time high, and if you do not take care of certain aspects of your car’s maintenance, its value depreciates drastically.

What Makes a Car’s Value Depreciate?

Mileage: The biggest thorn in your car’s resale value is the number of miles it has run. The lesser that value is, the more money your car will fetch. If you have made up your mind that you are going to sell it after a few years, avoid taking it on long trips.

Also, there is a huge psychological difference between, say, 98,000 miles and 100,000 miles. If you are approaching such round figures, try to keep the mileage below it.

Extra Features: Alloy rims, rear bumpers, additional vinyl- these may make your car look uber-cool but take a severe hit on the vehicle’s resale value.

Brand & Desirability: Some high-end luxury brands like Mercedes, Bentley, Audi etc. depreciate less than a Honda or a Fiat, for example. However, the depreciation rate evens out for nearly every car once they have hit the 3-year mark.

Tips for Improving Resale Value

Depreciation is a real threat that every used-car seller has to encounter. The cost of a car can easily swing by up to £2,000 depending on how it looks and its condition. Here are a few tips for improving the resale value of a vehicle.

Maintain the Servicing Schedule

Simply put, your car must be in a condition to pass its MOT Test Centre Coventry or any other city at any given point in time. If it’s fit to pass the test, it’s fit for resale. Regular servicing ensures that all the components of your car are working perfectly, which dramatically impacts its resale value.

Keep the Entire Maintenance Log

Regular servicing will not amount to much if you do not have a comprehensive record for the same. Keep a log of every service done to your car to assure prospective buyers of its service history.

Keep It Clean Inside and Out

Apart from the service log, the other thing that a potential buyer will notice first is the appearance of the car. If it’s spick and span, the value of the vehicle increases automatically. If possible, go for a new paint job.

Pay Attention to the Wheels and Tyres

With the increasing awareness, most car buyers now pay attention to the condition of tyres and the wheel. It’s especially true for SUVs where the tyre profile is larger than usual. So, check the status of your regular or 4x4 Tyres in Coventry. Apply a tyre shiner and clean your wheels manually before meeting with prospective buyers.

If you want a comprehensive servicing of your vehicle before putting it up for sale, visit reputable garages such as Central Point MOT.