How to get the best resale value for your car

When it comes time to trade in an old reliable jogger you've been driving for years in exchange for a nice, shiny new car, you'll want to get the best possible return on your investment. However, this refund cannot be made retroactively. You really need to start thinking about the possible resale value of your car before you buy it.

Buy a famous brand

First, you need a car with recognizable marketability. If you're looking for two identical cars from two different manufacturers, and one is cheaper than the other, it might be a good idea to compare the resale value of the two brands. If you save something now, you may lose everything and some more when it's time to get rid of the car.

Don't wait too long to sell

Almost everyone knows that mileage is an important factor in the market, so try not to keep your car for too long unless you plan on crashing into it. There are several exceptions to this rule. Look out for Toyota and Honda in used car ads. They still offer respectable prices even if they flaunt large odometer numbers. This is perhaps less true of their high-end brethren in the Acura and Lexus camps (although they're not bad either), because luxury cars are more expensive to repair.

Check under the hood

Then there is the mechanical state. A car that is serviced regularly and can demonstrate that it is technically sound during a test drive will take precedence over some decrepit old wreck. In the same vein, a detailed maintenance and repair report is a great way to prove the careful and regular attention the car has received in your possession.

Keep clean

Never underestimate the effect of appearance. The first thing that used car dealers do is fix them up. They steam clean the engine bay, shampoo the carpets, wash and polish the paintwork, clean the seats and controls, and deodorize the interior. Nobody wants to buy a dirty, beat-up old craft, so try to keep the car looking clean and shiny from the start. It's easier than the corrective things you'll need to do if it looks crappy in the end.

The interior is critical. Shabby and dirty upholstery, stained carpets, sticky controls - it's very repulsive. A well maintained car speaks for itself and suggests that the owner was a mature and responsible driver. The person you would like to do business with.

Don't personalize it

There are other considerations for resale on the public market. Choose a popular color. The purple car is not liked by many people. Avoid gaudy extras like blinds, sills and spoilers. Even aftermarket wheels can put off someone they offer a former boyracer owner to; a hooligan who liked to scrub the roads.

Finally, try to balance the deal you are looking for. Selling to a private person will most likely make more money than you get from the exchange. But the dealer may want to get the sale and may offer some options that will make the deal comparable. You will never know.

Bottom line: take care of your car and it will take care of you (and your money).