Old, Out! New, In! — Maximizing the Resale Value of your Car
It’s time to buy a new car. Wait, what to do with the old one? You could keep it. Or, and frequently a better option, you can use it as a trade-in to make the cost of your new car lower. Chatham Parkway Lexus can help you with this and provide you with an appraisal. There are some things you can do on your own to maximize the re-sale value of your car. Here’s how:
ROUTINE MAINTENANCE
Most of the value of the car can be kept by being sure that maintenance has been done consistently since you’ve had the car. Proper maintenance helps you avoid repairs (which helps you keep costs down while you own the car) and helps you avoid issues that might have to be repaired after trading it in, making the value of the car be lower. Not only is routine maintenance smart for addressing minor issues, it can act as a preventative measure. So, follow the maintenance schedule given in the manual for the vehicle.
MILEAGE AWARENESS
You need to keep an eye on your mileage. More miles mean faster depreciation. Therefore, you should be aware of the average annual mileage for your car. If your car is above the average mileage, it will be worth less.
KEEP IT CLEAN
Not only should you keep your car clean for cleanliness purposes, but it helps improve the market value. Car cleaning needs to be done routinely, inside and out. The more aesthetically and cosmetically pleasing the vehicle, the higher the market value. Along the same lines, be sure your car is parked under a covered shelter so it’s not exposed to the elements. Over exposure to weather can lead to the paint being worn out, faded coloring or even engine disruptions. Scratches, dents, and dings can be unavoidable, however, if they’re minor enough they can be fixed easily and cheaply. Look into fixing scratches with paint, polishing out scuffs and repairing dents yourself.
KEEP YOUR PAPERWORK AND RECORDS
Note-taking isn’t just for school. You should make detailed notes regarding your repair and maintenance on the vehicle since you got it. You’ll also want to keep all warranties, finance contracts, stickers, manuals, and service records. This will help provide back-up documentation that may lead to higher trade-in valuation. Your paperwork should also be kept in order, ideally chronologically, so you can show it to the buyer or a dealer such as Chatham Parkway Lexus. By keeping all these records, you can answer questions and show through documentation that you took care of your vehicle.
PRACTICING SAFE DRIVING HABITS
You can’t control everything that happens to your car, but you can do your part by driving safely. Did you know how you drive has a significant impact on your vehicle’s condition? Aggression and excessive speed while driving will eventually lead to a negative impact on the chassis, brakes, tires, and engine. Not only that, but you are more at risk of being in an accident. Most buyers want vehicles that have never been involved in an accident, so the best course of action is to drive safely – for the sake of yourself and your car!
CHATHAM PARKWAY LEXUS
While you prepare to sell your car, why not begin to research it’s replacement? Browse the Chatham Parkway Lexus Virtual Showroom and find the Lexus for you. Apply for financing, appraise your trade, and get your dream car delivered, all without leaving your home. Contact Chatham Parkway Lexus today!