5 Things that can Hurt your Car’s Resale Value

While unlikely that you’ll get back what you paid for your car, you can still get a decent chunk of change for a trade-in if you have a handle on it, and avoid some of the common problems linked to depreciation.

Here a few things that can negatively affect your car’s resale value:

No maintenance records

So you’ve taken good care of your vehicle over the years, it’ll still be tough to prove without the proper documentation. Without any service records, it’s impossible for a buyer to be certain that your car was properly maintained.  Even if there’s nothing wrong with it, this in itself can negatively affect the resale value.

Remember to always keep dealer invoices, receipts, and any other documentation to prove your maintenance history. You could find yourself losing out on hundreds of dollars if you don’t. If you don’t have the proper documentation, at least be honest up front. You could end up digging yourself a deeper hole if you lie about the condition of your vehicle.

Dents and scratches

This is an easy one – it’s tough to sell a car that looks beaten up. Before selling your vehicle, make sure any significant dents and/or scratches on your car are dealt with ahead of time. It may seem like nothing more than a cosmetic issue, but a well-informed buyer is likely aware that those types of problems can lead to damage to the body down the road. Simply put, the more scratches and dents your vehicle has, the less you’ll get for it.

Interior Issues

Having a dirty interior may not seem like a huge deal, but it can make a big difference in the eyes of a buyer. Even something like a foul odour can certainly be enough to turn off a prospective buyer.

Spend a few bucks and get your car detailed at a dealership. It may seem counterintuitive to spend more money on a car you plan to sell, but it can go a long way in ensuring you get the most for your vehicle.

You’ve driven it too much

Even if your car appears to be in great condition, you’ll have a hard time getting a good return for it if you’ve driven it for too long.  The further your car has traveled, the less you’ll get it. It’s as simple as that.

Modifications

Just because you like the customizations you’ve made to your vehicle doesn’t mean someone else will. Generally speaking, the more modifications you’ve made, the tougher it will be to sell. While leather seats or security features may be seen as a bonus, a lowered suspension or tinted windows likely won’t be welcomed by a prospective buyer.

Keep this in mind the next time you think about accessorizing your car.