What Decreases the Value of a Car?
By: Andreea Putinelu
Last updated: 28 August 2019
Cars are expensive purchases that should be made after doing some research, history of recall, reputation of the brand and dealer are also factor you should consider. And while if you are looking to resell it you can usually expect to get less than you paid for it initially, there are certain things that will decrease the value of your car exponentially more.
If you want to know what decreases the value of a car, then keep reading!
It is well known that a car with lower mileage is more valuable and will sell at a better price. It’s best to sell a car before you hit 30,000 miles as this is when you will have your first scheduled routine service. You might notice some car components starting to fail after the car reaches 60,000 to 70,000 miles, which can be considered to be the next mile stone before which it is best to sell your car (the last one being at the 100,000-mile mark.)
This is why you need to be weary of how much you drive your car and limit unnecessary journeys as much as possible.
Lack of maintenance
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You can easily tell whether a car has been cared for or neglected just by driving it once. If you are planning to sell it, you can be sure potential buyers will know if you took good care of it or not. They will be put off by a loud engine or any other issues the car might experience due to poor maintenance, so make sure you keep on top of it!
Buyers will also check for a service history report before purchasing your car, which can reveal a lot about how well you’ve looked after your motor.
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Similar to the previous point, a car that is unkept, dirty and/or smelly will put potentially buyers off purchasing it. You wouldn’t buy any product, whether it’s a chocolate bar or a vehicle, that is dirty and unpleasant to look at. So, make sure that before you take any pictures of your car and before showing it to any buyers you give it a good clean and open the doors to let some fresh air in. If you are a smoker then it’s good to properly deodorise the car before letting anyone in.
Dents and Scratches
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What your car exterior looks like is a very important factor if you would like to be able to sell it at a decent price. Any kinds of scratches, cracked windows, rust or dents will jump out, especially if a potential buyer is looking for them. Be careful to not get into any accidents that can damage your car, or if you do, try and fix these issues before trying to sell it.
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While you might like certain features, such as reupholstering your car seats in leopard print or adding a neon pink light around your licence plate, perhaps potential buyers won’t share your taste, and they might be put off by those aftermarket modifications. They can take a good sum of money off the value of your car so it’s best to let it as simple as possible if you want your car to sell fast and at a decent price.
Does repainting a car decrease the value? Depends on the colour you go for. Having a car in a more common colour also makes it more likely for people to buy it, as a strange colour might not be everyone’s tastes and could decrease the value of your car.
If you are curious about which modifications decrease the value of your car, we have a blog post dedicated to it!
If you are looking to increase the value of your car why not check out blog post on ‘How to increase the value of your car’?
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