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Owning a car is one of the most pleasurable moments in life. It’s even likely that you’ll have an inseparable connection with the vehicle, which you can hardly communicate in words. So strong is this connection that you’ll find it hard to overcome the agony of any scratch.
Amid this excitement is the harsh reality of depreciation. As much as depreciation is a scary word, it’s common knowledge that your vehicle will lose its initial value over time.
Car experts contend that once you drive a brand new car off the lot, it loses 11% of its value. After that, the car will continue to depreciate, especially during its first five years. By then, the vehicle will have lost more than half of its value.
If you don’t intend to drive your vehicle to the grave, probably you’re considering trading in or reselling your car later on. Therefore, you should keep on pampering your vehicle even when it’s past its expiration date.
At some point, you might decide to part ways with your vehicle. In this case, you should always keep in mind that any buyer will expect your vehicle to be in excellent condition. But before you actualize your decision, there are things you can do to increase your vehicle’s value.
Make it a Habit to Refurbish Your Car
When you’re selling a vehicle, it will probably be the first car for any prospective buyer. Therefore, the buyer expects that the vehicle is in mint condition.
Any slight mistake might depreciate the value of your vehicle. Before you put the vehicle up for sale, you’ll be better served if it’s properly serviced and any defects are accurately detected.
If the need arises to replace an accessory from your vehicle, you should always go for a new set. If need be, you should buy it here. As is often the case, any new buyer will get the vehicle checked before they pay up.
Always Keep Hold of the Car’s Documentation
It’s a no-brainer that you should always have the right documentation for your vehicle. This will not only shield you from any legal action, but it will also enable you to get a better price for your vehicle.
The registration document, insurance, certification of pollution under control, and the bank’s no-objection certificate are some of the documents you need to keep updated.
If your vehicle has comprehensive insurance, you’re more likely to enjoy a good resale value.
Maintain an Eye-Catching Look
Like any other product up for sale, the first impression is the best. While mechanical factors will go a long way in determining your vehicle’s resale value, so does its outward look.
Anytime your vehicle is free of any dents and scratches, it’s likely to attract the attention of any prospective buyer at the first instance.
Seek Expert Advice
In recent years, there has been a dynamic shift in the perception of used vehicles. After all, many fresh drivers prefer to buy a used vehicle.
To ensure that your vehicle can fetch as much as possible, you should seek the input of an expert who knows a thing or two about evaluating vehicles. Having assessed the vehicle, the expert will suggest the most appropriate price for your prized asset.
If you intend to get the most suitable price for your used vehicle, you cannot afford to run it down. Other than being well equipped, the state of your vehicle should be immaculate. This way, any prospective buyer will not feel cheated even after having used the automobile for several months.
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