If you ever decide to sell your car, you will naturally want to secure the highest possible price. However, certain bad habits can significantly lower your car’s resale value, making it difficult to get the amount you desire when selling or trading it in.
Ernest North, co-founder of Naked Insurance, shares insights on how car owners can preserve their vehicle’s value. Below are five common habits that can hurt your car’s resale value.
1. Skipping Regular Maintenance and Servicing
One of the biggest mistakes car owners make is neglecting regular servicing and maintenance. While it might seem like an unnecessary expense, ignoring routine service appointments can lead to minor issues escalating into costly repairs.
A well-maintained car with a complete service history attracts higher offers from buyers, as it assures them of the vehicle’s reliability. North advises using authorised dealerships and RMI-approved workshops for maintenance to boost buyer confidence.
Additionally, skipping services can void your warranty, leaving you unprotected against significant mechanical failures. Insurance claims may also be affected if an accident is linked to negligence, such as brake failure due to poor upkeep. Regular servicing ensures that all critical components, including the engine, brakes, and suspension, remain in top condition, reducing the likelihood of breakdowns.
2. Ignoring Minor Dents and Scratches
Many car owners underestimate the impact of small dents and scratches, often choosing to leave them unattended. However, these minor imperfections can lead to rust and corrosion over time, diminishing the vehicle’s value and making it less appealing to buyers.
Even minor damage can create the impression that the owner has not taken proper care of the car. North suggests fixing dents and scratches promptly, even if the cost seems inconvenient. If you have car insurance, assess whether claiming for repairs is worthwhile, especially if another insured driver caused the damage.
Cosmetic issues, such as faded paint or cracked headlights, can also make your car look older than it actually is. Investing in professional touch-ups and detailing can significantly enhance your vehicle’s aesthetic appeal and increase its resale value.
3. Losing Essential Documentation
Keeping track of your car’s paperwork is crucial when it comes to resale. Missing service records, repair invoices, or the vehicle’s handbook can make potential buyers hesitant, as they may doubt the car’s maintenance history.
Proper documentation reassures buyers that the car has been well looked after and that there are no hidden issues. Always store these important papers in a safe place to maintain your car’s value and credibility in the eyes of prospective buyers.
A vehicle with a full-service history and complete documentation generally sells faster and at a better price than one with missing paperwork. Buyers prefer transparency and are willing to pay more for a car that has been consistently maintained.
4. Installing Aftermarket Modifications
While modifying your car to suit personal tastes might seem appealing, aftermarket changes can deter potential buyers. Many modifications, particularly those that alter the vehicle’s performance or aesthetics, reduce its marketability and resale value.
If you choose to modify your vehicle, keep the original parts so you can restore it to factory condition when it’s time to sell. Many buyers prefer stock models because they are seen as more reliable and easier to insure.
Aftermarket exhaust systems, spoilers, oversized rims, and performance enhancements may make a car look sportier, but they often decrease its value. Many buyers see such modifications as signs of aggressive driving or increased wear and tear. Furthermore, some insurers may charge higher premiums for modified vehicles, making them less desirable in the used car market.
5. Neglecting General Care and Protection
Failing to take care of your car’s exterior and interior can have long-term consequences on its resale value. Issues like sun damage, rust, faded interiors, and hail dents can make your car look neglected and less appealing to buyers.
To preserve its condition, regularly clean your car and avoid prolonged exposure to harsh weather conditions. If you don’t have covered parking, investing in a high-quality car cover can provide extra protection.
Interior cleanliness also plays a major role in resale value. Stained seats, torn upholstery, and lingering odors from smoking or pets can drive potential buyers away. Regular vacuuming, upholstery cleaning, and using air fresheners can keep the interior in top condition.Maintaining your car’s resale value isn’t complicated—it simply requires consistent care, regular servicing, and a bit of foresight. By avoiding these common mistakes, you’ll not only enjoy a reliable vehicle while you own it but also secure the best possible price when it’s time to sell.
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Taking small steps, such as servicing your car on schedule, keeping it clean, avoiding unnecessary modifications, and keeping all relevant documents, can make a huge difference in how much you receive when you finally decide to sell. A well-cared-for car is easier to sell, attracts more buyers, and ensures you get the best return on your investment.
