Concerned about car's resale value: How to get the best value for Your Car

Tips for best resale value: A car’s value in a pre-owned market is decided by multiple factors. The resale value of a car is the price, which the owner gets in the pre-owned car market when the car is for sale after using it for a period. This price is depreciated due to several reasons like the vehicle’s age, kilometers clocked, and market demand. Cars may lose their value by around 20 per cent to 50 per cent over a period of time. Critically, as the number of ownerships increases, the car’s resale value decreases.

To maximise the car's resale value, consider maintaining it well. Here are the steps to get the best resale value for your car:

Routine Care: 

The car should be maintained regularly and serviced, such as oil changes and brake inspections, is important for a car. The documents of these service records can prove to potential buyers that the car has been well cared for by the owner, and help to improve the resale value of the car. 

Address Repairs Promptly:

All the necessary repairs of the vehicle should be done timely and the record of it should be maintained. This will help in the longer life of the vehicle and better value at the time of resale.

Preserve kilometres: 

The vehicle owner should try to limit piling excessive kilometres on the vehicle by using an alternative mode of transportation when possible. Lower kilometres on the vehicle generally translate to a higher resale value of the car. This results in getting a better price in the market.

Keep Records: 

All the records of the car should be kept intact and well-maintained, including service records, registration certificates, insurance policies, and more. This helps in enhancing the trust of the potential buyer of the pre-owned vehicle.

Get a Fair Valuation: 

Before selling the car in the market, always carry a market research about the value of the car to get a competitive price for your vehicle.