Tips to Enhance the Resale Value of Your Car


Thread Starter #1

350Z

Core Team
Joined
Aug 10, 2009
Messages
18,428
Likes
6,205
Location
New Delhi
We treat our car like a baby right from the beginning of ownership, but after a few years, we find ourself standing in such a situation where the heart desires for something new and laden with features to meet the on-going trend as well as the increasing personal requirements. However, if parking space and the budget is a concern, there is not much one can do other than selling-off the existing car. Moreover, while selling, who does not wants to get most of the hard cash from his / her car? This is exactly where the role of re-sale value comes in. This concise yet practical guide by The Automotive India will help you setting that deal right and extracting most of the Vitamin-M while selling off your beloved ride. Disclaimer: Please note that the ‘selling’ and ‘re-sale value’ are entirely two different topics, and this thread focuses majorly on re-sale value only.

Brand Value Helps: We usually talk about the brand value, and especially if it comes to reselling the car. It matters. In India, the brands such as Honda, Toyota, and Mercedes are very respectable as well as desirable, resulting that their models hold a good value even after years, in comparison with others. Apart of it, some popular cars from other brands enjoy a great market value too.

Maintain it like New: This is one crucial aspect of selling a car. Nobody likes to buy a car, which is dirty, mismanaged, and gives a bad odour while sitting in. To some extent, the condition of the car directly or indirectly also reflects about the owner. I have personally met some people with such an attitude who totally stop caring about their car when it is the time to sell it off, but this is unfair. The more aesthetically pleasing you keep the car; the more confidence you get to ask for those additional bucks.

Service on Schedule:
The car is a machine, but it rather acts similar to a human. In simple words, as long as you keep it happy, in return, it will also keep you happy by giving fewer troubles. Always make sure to service your car punctually and at authorized service station, as recommended by the manufacturer. This would thereby give you an added advantage while selling it.

Modifications Sucks: If you think that, your car looks cool with the fat exhaust, weird graphics and more, then by doing this, you are mostly killing the chances of finding a good taker, unless the buyer is as much ‘enthusiastic’ as you, which is absolutely rare. However, some light accessories like a decent set of alloy wheels do the justice, but no bling-bling please! Also remember, in case you have a high-end entertainment system installed, it is better to take it off while selling since you can fetch a far better value for it separately, or simply add it in your next car and get it rollin’.

Care it Like a Baby: In addition to the second point regarding maintenance - Along with a good upkeep, make the car look desirable too. Just keep yourself in the situation of a buyer and think about the positives and negatives, for which you would consider worth paying extra or not. Sometimes, replacing the old tires or battery, could help attracting the buyer, hence, making them to consider shelling out for the asking price, without hesitantly.

Repair those Dents: In the daily chaotic traffic jams, it is next to impossible keeping those scratches and dents away, Agreed. However, before presenting the car in front of a potential buyer, you can always repair those major dents and scratches. Now tell yourself, would you prefer to buy a car, which already has many scratches a huge visible dent on the door or bonnet? I am sure, most you would certainly not.

History is Necessary: It really does not take too much to compile all the important documents of your car (Purchase Invoice, Each Service Bill, and Car Manual etc.) together in one single folder. This does not only help you to find them easily, but also creates a strong impression on buyer, and definitely, if you do already have this, you have the right to ask for a fair premium. Since, in spite of knowing this fact well, many car owners still do not properly maintain a record of their vehicle.

Rarity could be too Good or too Bad: There are a few rare cars in the market, which have a high demand, whereas on the other hand, some of them are stinking like anything. That is why it could be either a too good or a too bad news for you if the car you own is rare. Mitsubishi Cedia is one of the highly demanded car in pre-owned market but conversely, the cars like Ford Fusion and Opel Astra struggle to get new owners.

Dealers – The killers: Never mistake of selling your car to a dealer or exchanging it for another. Most of the times, dealers will always pay less for your car regardless of its actual condition. Finding a genuine buyer would take a little effort from your end, but at the end of the day, it would surely pay off. An instance - Assuming a Honda Accord M/T, done 40,000 Kms, in decent condition, which is April 2008 manufactured, would be acquired by an authorized dealer for approx. Rs.9,96,000, but if the very same car is sold to an individual buyer, the seller could easily fetch somewhere Rs.10,60,000, thus, making a total profit, or we better say preventing a total loss of Rs.64,000, which matters a lot. No?

Mileage Matters: Above all, this is a well-accepted fact that low-mileage cars always pull in more customers. If the car you have put up for sale is already in high demand in the market, and it has the bonus of low mileage too (Generally anything up to 30,000 Kms is considered good), then you are in a win-win situation, because you can quite easily finalize a suitable deal by asking for the reasonable price of your car, However, whoever reads this article, we request not to perform any unethical activity such as odometer tampering just to rob the buyer, because finally what you would end up taking more than the money is bad-wishes of person who has been cheated. And we, at The Automotive India believe that a deal is a no deal when either of the parties remains disappointed. :smile: That is why, rather than applying ill-techniques, try to avoid using the car for walkable distances and save up those numbers on odometer.

Cars sold in India with solid resale:

  • Maruti Swift
  • Honda City
  • Honda Civic
  • Toyota Corolla
  • Mercedes C-Class.
Cars sold in India with poor resale:
  • Ford Mondeo
  • Chevrolet Aveo
  • Hyundai Elantra
  • Hyundai Sonata
  • Mitsubishi Lancer Cedia

(C) 2010. The Automotive India. All rights reserved. This article can not be reproduced in any form without written permission of our authority.
 
Joined
Oct 23, 2009
Messages
9,165
Likes
329
Location
Chennai
Good and well compiled report 350Z! My cars fall in both the lists you have Verna for solid re-sale value and Safari for poor re-sale value![lol]
 
Joined
Sep 18, 2009
Messages
4,019
Likes
90
Location
Bokaro/Bangalore
Brilliant thread and very useful.

History is Necessary: It really does not take too much to compile all the important documents of your car (Purchase Invoice, Each Service Bill, and Car Manual etc.) together in one single folder. This does not only help you to find them easily, but also creates a strong impression on buyer, and definitely, if you do already have this, you have the right to ask for a fair premium. Since, in spite of knowing this fact well, many car owners still do not properly maintain a record of their vehicle.
Very important.
I feel to have comprehensive ownership report on forum, like TAI, would be another great thing to have. It will be one point information, owner can get.[cheers]
 
Joined
Aug 23, 2009
Messages
3,742
Likes
656
Location
London, UK
brilliant thread 350Z! you have pointed out all the main points. also atleast if someone doesnt keep their car clean, try to make it squeaky clean before putting up for sale. i have a friend who sold his 3 series and he sold it clean inside out and it increased the value by 70-80K!
 
Joined
Aug 22, 2009
Messages
2,977
Likes
26
Location
India
excellent thread..i know theres very huge margin if you sell your car to dealer or single person. what dealers does is they take your car for less and sell it for more obviously..i think we also need thread about what to do if you have rare car and its not selling :tongue:
 
Thread Starter #6

350Z

Core Team
Joined
Aug 10, 2009
Messages
18,428
Likes
6,205
Location
New Delhi
brilliant thread 350Z! you have pointed out all the main points. also atleast if someone doesnt keep their car clean, try to make it squeaky clean before putting up for sale. i have a friend who sold his 3 series and he sold it clean inside out and it increased the value by 70-80K!
Was it in India? If so, then there are a plenty of ways to sell off a car with solid brand image like a BMW or Mercedes. The cars with high actual price though depreciate much quicker, but in fact, some used car dealers sell them by keeping a significant margin, and interestingly, people still do purchase them at that very price. For Eg; I have seen a few Merc W210s (90's model) up for sale at over Rs.10+ Lakhs (!!).

Drive Safe,
350Z
 
Joined
Jun 10, 2010
Messages
104
Likes
5
Location
Maharashtra, India
O_O dam i don't keep my paper at all specially service paper . i don't even remember where did i kept my last service paper .
Hey Mastersquall,

While a file containing documents related to the maintenance and upkeep of your vehicle would be ideal; an excel sheet documenting the same would do just as fine. At the end of the day, such records not only fetch you better resale values but they also enable you to track down unusual happenings with your prized possession; thereby helping to strengthen the bond between you and your machine.

Take care [thumbsup]

P.s. Brilliant one yet again with this wonderful guide-list @ 350Z [clap]
 
Thread Starter #11

350Z

Core Team
Joined
Aug 10, 2009
Messages
18,428
Likes
6,205
Location
New Delhi
O_O dam i don't keep my paper at all specially service paper . i don't even remember where did i kept my last service paper .
I think that your Safari is up for sale, Hope this article helps.

Hey Mastersquall,

While a file containing documents related to the maintenance and upkeep of your vehicle would be ideal; an excel sheet documenting the same would do just as fine. At the end of the day, such records not only fetch you better resale values but they also enable you to track down unusual happenings with your prized possession; thereby helping to strengthen the bond between you and your machine.

Take care

P.s. Brilliant one yet again with this wonderful guide-list @ 350Z
True. If I remember correctly, J.Ravi created a similar spreadsheet for his Linea. Infact, I have also made a habit from some time now to maintain all the car related papers (Servicing, Accessory Installation Bills etc.) in a proper folder.

Drive Safe,
350Z
 
Joined
Apr 27, 2010
Messages
1,613
Likes
133
Location
MH 01 / MH 43
Hope this might Help:

Check the date of manufacturing and the date of regestration properly.

For eg: The car has a manufacturing date of Dec and the car is regestered in Jan; then there is chances of getting less prices during the resale. The person who is buying the car will consider the manufacturing date.
This has happened with us twice. Our P150 was manufactured on dec2005 and the bike was brought and regestered on jan2006; when we wanted to sell the bike; the bike was considered as a 2005 model because of its manufacturing date and we got less price because of this. So guy hope you got my point![roll]
 
Joined
Oct 23, 2009
Messages
9,165
Likes
329
Location
Chennai
Yes i get it , that is why most people don buy their vehicles in December and wait for sometime to get 2011 model , but i have no worries , only a small amount difference!
 
Joined
Feb 7, 2011
Messages
1,410
Likes
677
Location
payangadi
model changes of vehicles is usullay after march. i booked my car in february took it from the dealer on march 12 still i was given a model of the previous year. only after some time did i notice this thing and iam stuck with it. next time when buying a new car i shall follow the pdi guidance from this forum.
 
Joined
Sep 12, 2009
Messages
4,045
Likes
259
Location
Pondicherry
Good thread ,

over all the looks and audio system kinda things are checked by senseless buyer.
its senseless buyer everywhere.
also keep in mind , senseless buyer are sometimes hard bargainer!
some people checked my car

one checked my car's indicator , hehe he asked me to put all the indicartor , horns etc .
he then started to bargain , @ 2.30L including the audios . Holy crap!

i just said a big no and took the car home.

Also we face heavy loss when the car is recently serviced with lot of parts changed. Have seens people facing heavy loss.
If you are in a mood to sell the car just polish and sell them - the best way.

If you plan to retain the car , spend on it , have a trouble free ride. and sell years after them.
 
Top Bottom