A well-maintained vehicle has a better resale value, so in order to get good money on selling your car it should be an essential practice to take good care of it. Not only while selling but even while buying a new or a used car always keep the resale factor in your mind.
If you want to know what aspects of a car can alter its value then keep on reading this article. As per the auto repairs in Southlake, TX, following are the 9 main factors that can drastically affect the resale value of a car:
The brand of a car greatly influences its resale market value.
A branded car can get you a handsome amount even if you own an old model. Regardless of the condition of the car people get attracted to imported cars.
The value of branded cars depreciates at a slow rate as compared to the local cars. You can buy a brand new local car at the price of a decade old Benz.
2. Parts availability
The availability of the parts of your cars also determines its value.
If the accessibility to the auto parts of a car is difficult then people hesitate from buying that brand; a low demand is directly proportional to a low resale value.
As per auto repairs in Southlake, TX, a brand whose auto parts are not accessible locally, has a low resale value even if the car is in the mint condition. Similarly an average car can have a better resale value if the auto parts are available in the market.
A well-maintained car is always good for the business because it is a universal fact that no one likes to drive a wrecked car just a step away from being dumped in the junkyard.
The state of a car can be analyzed by determining these aspects:
- Exterior of the car
- Interior of the car
- Mechanical condition
A damaged exterior of a car will greatly depreciate the value, even more than a damaged interior. The expert auto repairs in Southlake, TX say that normally people inspect the exterior of the car more carefully because an exterior damage is common in a road accident.
On the other hand a well kept and clean interior also adds to the worth of an automobile. It is advised by the experts to protect the original seat covers by getting protective seat covers installed by an auto repair in Southlake, TX. Safeguarding the original accessories will drastically increase the resale value.
Poor mechanical condition of a car attracts junk man rather than a customer. A low performing engine can kill the worth of your vehicle despite of having a well-kept interior and exterior. The auto repairs in Southlake, TX highly recommend getting a car inspected by an experienced mechanic before purchasing it.
The color of your car greatly affects its resale value; an eccentric and odd colored car will have a higher depreciating rate. In simple words, the more common the color, the more resale value you will get.
According to a research conducted by iseecars, yellow color secured the least while golden color has the most depreciating value during the course of 3 years. This study further suggests that yellow is popular only with the sports cars.
5. Regional demand
Regional factors also come to play in deciding the resale value. It is possible that a car has different resale values in different areas.
Four-wheel drive jeeps are preferred in dessert and mountainous regions while a normal car will be nearly sale-proof in that region.
Mileage of a car is inversely related to its resale worth; it means the fewer the better.
You might get a very low offer despite the mint condition of your car if you have travelled a huge number of miles in it.
7. Automatic or manual transmission
A majority of people prefer an automatic transmission vehicle because of its added benefits. Therefore, a manual transmission car will have a low resale compared to automatic car.
So, if you want a car with high resale, just make sure it doesn’t have a shift paddle in it.
8. Powered and safety features
There are many features in a car that are expected to be powered like windows and locks, if your car lacks these features then prepare yourself for a low price offer.
Due to the increased rates of road accidents the demand of cars with safety features has gone up. Safety belts and air bags are not being discussed here. Technological features like blind-spot monitoring and automated emergency braking have become popular and if your car is equipped with it then you are going to get a handsome amount upon selling it.
Trim is basically a level which defines the options and features a car has. High trim value means a more expensive car, but in case of a used car, a high trim may not always increase the resale value.
A person buying a used car will always go for the cars with basic trim. Generally speaking, higher trim levels may not add a large amount of value unless they are made in less numbers.
Auto Repairs in Southlake, TX recommend doing a thorough research before selling and buying a used car. They also suggest that before making a purchase, get the car checked and fully inspected by a skilled mechanic.