If you’ve owned your car for a while, it can be tempting to make the odd tweak or modification for resale or to fall back in love with your car. But how do you increase a car’s value, and what are the best ways to increase the value of your car?
We’ll take you through small tweaks and larger car detailing ideas, as well as car technology and innovation systems to put your car in prime position!
Common Reasons for Car Depreciation: What Causes It?
The age, model, make, and mileage of your car can’t be changed. These are some factors that could depreciate your car’s value (lost cash value over time). However, numerous used cars and 90’s classics are gaining value and exceeding the original purchase cost!
Appreciation In Value: Why Some Cars Avoid Depreciation.
It’s inevitable that certain cars will withhold or exceed their original purchase price once they’re up for resale. Luxury vehicles, reliable cars, and models packed with advanced technology and innovation help to reduce depreciation rates.
However, if you’re thinking about reselling your vehicle and are curious about how to add value to your car, there are things that you can do to draw in buyers.
Here are some of the best ways to increase the value of your car:
Know your market.
Do your research and know what customers desire before thinking about reselling or trading in your car. If you know which makes, models, and features are highly requested, then you can upgrade your vehicle in line with its appearance and market demand.
What Affects Car Value the Most?
Numerous things affect car value the most, specifically an inconsistent reporting history or lack of full-service documentation. As well as this, the car’s condition is what customers care about greatly. They want a well-maintained, safe to drive car that looks good on the road.
What Affects the Trade in Value of a Car?
Other factors such as high mileage and the age of the car do have an impact on trade in value. But this can’t be changed. All you can do is keep an eye out on market trends and see when your car’s value drops and rises. Have your eye on what makes and models customers are searching and add value to your car through the correct and legal modifications. Don’t ignore the impending MOT as this helps buyers feel secure in their purchase. Plus, it shows that your vehicle is well-maintained.
Maintain a Full-Service History.
Potential buyers want to understand the full picture of the vehicle they’re investing in. Present a fully updated logbook to show the car’s maintenance history, so buyers know there’s no unexpected damages or faults they’re going to have to fix.
It shows that you care for your vehicle and that it’s in good shape. If it’s obvious you haven’t looked after your vehicle or there’s maintenance gaps, this only puts buyers off or they’ll ask for a hefty discount. That goes for the rest of the paperwork too. Have everything in order in case of any questions or necessary details needed. The correct paperwork could increase your car’s value by 20%, so it’s a no brainer!
Repair Cosmetic Damage.
Fix any scrapes, dents, or scratches to appeal to buyers looking for that new car feel. Reasonable shoppers will understand that used cars may have subtle imperfections, but a quick buff and polish will stand in your favour.
It’s a simple, relatively cheap way to maintain the resale value of your car and present it in the best condition to buyers. Clean up your vehicle for greater marketability, even if minor blemishes don’t depreciate your car as much as larger damages.
Don’t neglect the interior either. A quick dust, vac, and clean makes all the difference in re-sale pictures and for those who want a quick test drive. This is especially important if you’ve got children, pets, or your interior has been exposed to smoke.
Clean, Polish, and Paint Your Car’s Exterior.
If you restore your vehicle to near its original condition, you could see a 10-20% rise in the vehicle’s resale value.
Car detailing shows you care about the aesthetic and visual appeal, which gives confidence to customers.
Waxing, polishing, and respraying (with the exact body paint) helps protect the finish, get rid of dirt, and add a new lease of life into your vehicle. All these car detailing tips replace a dull, worn finish with a higher-end glossier feel. Just make sure any detailing matches or is in-line with the original car’s description.
How to Add Value to Your Car.
Custom Car Modifications.
Implement the right changes to your car to improve performance and safety. Reflect on current and future market trends to increase your car’s value. Ensure that any modifications are high-quality, in line with the vehicle’s spec, and are approved, irreversible, and don’t feel out of place. Cheap or unnecessary modifications can cause your car to depreciate.
Window Tinting.
A great modification for privacy and to prevent sun damage. It looks great and serves a purpose. Plus, it’s a subtle and popular add on.
Car Audio Upgrades.
Ditch low-value, basic audio systems with Motorguard. Choose a Subwoofer, speaker, or amplifier for an upgraded, more enjoyable driving experience. Don’t jump in and choose the first sound system you come across, as this can diminish your car’s value. However, the right system can enhance your audio and navigation experience.
How Do You Increase a Car’s Value?
Upgrade your car’s internal security and display for seamless driving.
Vehicle Security Upgrades.
Prevent vehicle theft with tracking technology. As much as this doesn’t stop theft altogether, it can put people off attempting to take your vehicle. Prioritising vehicle security is one of the easiest and best ways to increase the value of your car, especially if you’re selling in the colder months (often peak season for vehicle theft).
Vehicle immobilisers operate by starting your car using a code or being within a certain distance. The immobiliser stops unwanted people from starting and driving away with your vehicle.
Both vehicle security upgrades are highly desirable to protect your car and deter criminals from attempting to approach your vehicle.
Navigation Upgrades.
Upgrading your car’s navigation system has many benefits. Not only are you creating a calm driving experience, but you’re also helping people save time on the road, remain safely connected, and feel entertained, all while reducing the vehicle’s level of wear and tear.
By finding the quickest routes with a seamless navigation system, you’re saving on mileage, cosmetic damage, and reduced tyre grip.
Recharge the Aircon.
There’s nothing more frustrating than intermittent aircon or waiting a while for it to kick in. By recharging your aircon, you’re creating the perfect, clean environment with the ideal temperature. Recharging your aircon is one of the ways to increase fuel efficiency as your system isn’t working overtime to cool the car down.
Replace Your Tyres.
If you’ve done over 20,000 miles in your car or you’ve used your runaround for 10+ years, it’s time for a tyre upgrade. If your tyres look like they’ve been put through the works, are visibly fraying, worn and dirty, or look a bit deflated, be prepared for a discount request.
If your car tyres have a decent and deep tread depth, then you can travel with ease in all weather conditions with safety and comfort. This is enticing for customers who rely on their car for long trips!
Customers will always look at your tyres as a first impression of the state of your car. If your tyres are showing signs of cracked rubber, this could be a safety hazard and will tell customers that they’ll need to be replaced urgently, putting off a potential sale or depreciating the value. Cracked rubber could cause a blowout, and if excess water seeps into the tyre seal, it can affect your ability to control the car.Find ways to increase a car’s value with Motorguard. From tracking to sound systems, vehicle security, and more. Contact us if you’d like advice on the best products to install in your vehicle to add value and create a desirable driving experience!