Easy Upgrades to Increase the Resell Value of your Car
While a car is a depreciating asset, there are steps that you can take to maximize its value when attempting to sell or trade it in. In some cases, taking these steps can help you get more from a vehicle title or any other type of loan that uses your vehicle as collateral. Let’s take a look at some easy upgrades that can make your car worth more on the open market.
Organize Your Maintenance Records
When a buyer comes to take a look at your car, he or she is going to want to know that it was properly cared for. A great way to do that is to have the vehicle’s maintenance records handy. At a minimum, you should have a receipt from the car’s most recent inspection that shows that a mechanic has deemed it to be in good condition. You will also want to show that you have a clear title to the vehicle.
Clean the Interior
Cleaning your car is one of the easy upgrades you should not avoid. Buyers are not going to be attracted to vehicles that look like they were used as a trash can. Therefore, you should get rid of any food, napkins or any other garbage that doesn’t belong inside of a vehicle. You should also dust, polish and vacuum the interior to get rid of dust or other imperfections.
Clean The Exterior
The easiest of easy upgrades is the exterior. The exterior of the car should be washed and waxed prior to being put up for sale. If possible, remove any dents, dings or other signs of damage as they can provide a buyer an excuse to ask for a lower price. It is also a good idea to look into getting rid of any rust that may be on the vehicle. Scrubbing the tires can also help to create the impression that your vehicle has been well cared for.
Make Necessary Repairs
If the vehicle will need new brakes in the next 1,000 miles or so, you should replace them before listing it for sale. The same is true if it will need new tires, a fluid flush or any other maintenance that a new owner will want to avoid. Generally speaking, buyers are willing to pay for for a car that is road worthy from the second it is purchased. In the event that you want to take a loan against your car, you can usually get more money from a car that doesn’t need a lot of work.
Get a Second Set of Keys
When you buy a car at a dealer, you typically get two sets of keys to the vehicle. Therefore, it is customary to provide the person who buys your vehicle a second set of keys as well. This can also come in handy if you are looking to increase a vehicle’s trade value.
It is in your best interest to do whatever you can to maximize the value of your vehicle. The more that you get from a buyer or when trading it at a dealership, the less that you have to pay for your next vehicle. It could also result in more money in your bank account, which can provide you with financial flexibility both now and in the future.