Tips to Retain your Car Resale Value

Experts say that a car depreciates fastest within the first year of its purchase. Depending upon the model and variant, the drop in the resale value within the first 12 months of ownership can range anywhere between 15% and 40%. If you like replacing a car every year or two, the depreciation aspect might concern you. But don't worry since every problem, including car depreciation, has a solution. Check out the top 10 tried and tested tips for preserving your second-hand car resale value. 
 

10 Tips to Help you Preserve your Car's Resale Value

 

1. Polishing and Coating

   Many individuals do not put polishing their car on their priority list, and it's also one of the last tasks on their to-do list when it comes to car maintenance. However, polishing and waxing have a significant impact on your car's resale value. The car owners usually have three choices—Teflon coating, PPF, and anti-run coating. 

 

• Teflon coating is well-known for its non-sticky and temperature resistance properties. The great retention and long life feature of this coating protect your car from various types of tar, scratches, and corrosion. 

 

• The Paint Protection Film (PPF) coating comes with stain and fade resistant property. The coating is easy to remove and has a long lifespan.

 

• The Anti-Rust underbody coating saves your car exterior from the moisture and other factors that cause corrosion.

 

2. Well-kept Wheels

   If you want to maximise your second-hand car resale value, keep an eye on the condition of your wheels. Wheels are among those car components that bear the maximum brunt of being on the road. When you drive your car on bad roads, you run the risk of pitting, corrosion, and rust. Additionally, the tyres are at risk of losing threads, resulting in skids when driving.
    
   Therefore, to keep your wheels safe, rinse them at regular intervals. You may also use alloy cleaner to remove dirt and harmful particles from the wheel. 

 

3. Protect Exterior Plastic Trim

   The exterior plastic trim is one of the key factors that degrade your second-hand car resale value. As a result, your car's colour fades, and its lustre diminishes. Plastics are susceptible to moisture, oxidation, dust, heat, and sunlight, among other things. To save your car from plastic trim and to restore its value, avoid parking your car under direct sunlight or when it is raining outside. 
    

4. Maintain your Car's Interior

   If the interior of your car is messy and in poor condition, you would hardly get any money when you sell it. If the car you are willing to sell has torn seats, missing mats, broken infotainment screens, and so on, consider spending some money to have them replaced or repaired. Keep in mind that the car interior plays a key role in used car valuation. Any minor investment in repairs and replacement can help you retain the car resale value. 

 

5. Regular Servicing

   Whether you want to sell your car or keep driving it while seeking to enhance the mileage, service is essential. You shouldn't miss the service date at all. If you notice any vibrations or other problems with the engine, take it to a certified service centre right away.
    

Keep in mind that addressing minor mechanical faults immediately not only saves you money on repairs but also safeguards all major and minor components under the bonnet, enhancing the second-hand car resale value.
 
Also Read: Negotiate Better By Knowing These Top Factors That Influence Used Car Pricing
 

1. Lookout for Dents

   If you live in a densely populated city, saving your car from dents and scratches would be nearly impossible. However, these minor dents are the first thing that comes to the notice of the buyer who is purchasing the car on a used car loan. So, if you discover any scratch on the exterior body part, get them fixed right away.
    

7. Clean the Lights

   You must be wondering why we have included this point. But do you know that the majority of road mishaps that occur during nights are somehow related to the headlights? If there are countless scratches on the headlight, the appearance becomes blurry, making driving difficult.
    
   So, to get a higher car resale value, make sure the headlights are free from scratches and do not have dull brightness.

 

8. Batteries and Brakes

   Have you recently checked the resale value of your car and discovered that it is not worth even a few thousand rupees? Well, it's high time to get your car's batteries and brakes inspected. The brake pads wear out with use, which is the distance you have driven. Not only do brake pads need to be replaced, but the disc also has to be resurfaced over time.
    
   In addition to brakes, batteries also require replacement over time. Usually, the life of a car battery is between three and four years. Once the battery completes its life, you will start experiencing several disturbances with several components such as horn, head and taillights, and more. 
    

9. AC Servicing

   The car's air conditioner also plays a critical role in helping you get better second-hand car resale value. If there is a problem with the air conditioning, the cabin temperature can cause discomfort to the driver as well as passengers, making it difficult to use the car during summers or for long drives.
    
   Therefore, if you find a fault with the compressor, cooling coil, or condenser, fix it right away before looking for a buyer.

 

10. Avoid Aftermarket Alterations

    If you have high-end audio systems, spoilers, and other add-ons on your car and hope to sell it for a higher second-hand car resale value because of them, you will most likely be wasting your time looking for a good deal.
     

In addition to that, any modifications in the factory fitted equipment and architecture deteriorate the car’s mileage and lower its resale value. 
 
Also Read: Is Your Car Older Than 15 Years? Here’s What You Need to Know
 

Bottom Line

Regardless of the car model or variant you have, the car is bound to lose its value over time. You cannot save your car from the regular wear and tear. However, by following the above tips, you may help yourself retain the car resale value to some extent. Apart from the above pointers, you may want to consider adding zero depreciation coverage to your car insurance policy, which will assist you in coping with the depreciated value of the vehicle and its components.