Top Tips to Maximize Your Resale Value

Cars that are regularly washed, polished, and vacuumed age better.

Take advantage of expert advice to get the best price for your car during the exchange.

The old saying goes that a new car starts losing money as soon as it leaves the showroom. But the truth is that your choice of car can cost you before you even turn the key.

Spend too much on options, go for a bright color, or buy a rental used model and chances are you'll lose out when it comes to a sale.

Smoking in it, leaving it under a fig tree, or being too lazy to maintain it can reduce the value.

But there are other cardinal sins when it comes to protecting the price of your car. Smoking in it, leaving it under a fig tree, or being too lazy to maintain it can reduce the cost of what will likely be your second-biggest purchase after a house.

Carsguide has put together a guide on how to take care of your car's value.

purchase

The choice you make at the dealership can greatly affect your vehicle's resale value. Choosing an obscure brand or model is not a good start. As a general rule, top-selling models also sell better as used cars. However, models bought in large quantities by rental operators can also reduce the cost of non-rental vehicles.

Buying a new car at the end of a model's life can also cost you dearly, especially if the next model is much improved. The relative cost of petrol or diesel, manual or automatic, varies from car to car, so do your homework and check out the prices on the used car market before making a decision.

logbook

The single most important way to protect the value of your car is to maintain it properly. A car without a logbook is a risk and will be judged accordingly.

“A detailed service history is extremely important. This gives the buyer a certain level of confidence that the car is being looked after,” says a Manheim Australia spokesperson.

One industry expert rates dealership serviced vehicles as generally more attractive than those serviced by independent workshops, even if they are qualified third party suppliers.

Protection

A garage is the best protection for your car, but any cover is helpful and will prevent premature aging of the paint, especially on plastic surfaces. Harsh sunlight can also ruin interiors by fading fabrics and drying out leather. Treating leather surfaces will help maintain their new look.

Just don't park it under a tree that runs sap or has large populations of birds - the litter is acidic and will ruin the paint if left there. The same applies to road dirt, tar and tire rubber.

Floor mats and car covers are a cheap form of stain insurance.

Cars that are washed, polished and vacuumed regularly age better according to one wholesaler, who says: «You can tell if they have been poorly looked after and then given a quick detail before sale.»

Floor mats and car covers are a cheap form of stain insurance, while leather or synthetic leather seat trims are also easy to clean for those with toddlers.

smoking

Just don't. "You would have to offer a pretty big discount on a car someone was smoking these days."

Smoke seeps into everything from headlining and seat fabric to filters in the heating and cooling system and is impossible to get rid of. A smoker may not choose it, but a non-smoker may.

Now few people smoke in the car, which means that your car will stand out even more if it smells of tobacco.

Warranty

If post-warranty anxiety isn't a real condition, it should be. It's only natural that people worry about buying an outdated used car, especially if they're buying it privately. So a car with a valid warranty is worth a lot more than one that is no longer under warranty. Previously, most warranties were limited to three years or 100,000 km, but newer brands now offer proper factory warranties for much longer, up to seven years in Kia's case.

The factory warranty costs the most, according to Glass, while the extended warranty provided by the dealership that sold the car also provides a convenience for buyers, though not as valued as the former.

Dents and scratches

Few cars get through life without the odd ding or scratch, but these imperfections can make a big difference when it comes time to sell.

"The look of the car gives the buyer an idea of ​​what's underneath the surface," says a spokesman for Manheim Australia. "A car that looks good is more likely to be looked after."

You have to weigh whether the cost of the repair can be recouped in the price of the car, but one car wholesaler told Carsguide that some customers trade $1500 worth of dented and scratched cars despite being fully insured. “Why they don’t use their insurance to fix it I don’t understand,” they say.

kilometers

This is quite obvious: the more mileage, the lower the price. However, there are other factors as well. A car with over 100,000 km on it looks less attractive than one back in the 90s.

Certain mileage points also mean major services, which can be expensive, but don’t assume you can offload your car just before a big one to save money.

“Many customers these days are going through a major service interval for, say, a timing belt and will have that in mind when they look at a vehicle,” says a Manheim Australia spokesperson.

Replacement price

When buying a new car, if you get a price from the dealer that sounds too good to be true, pause for a second before signing on the dotted line.

Sometimes a dealer may offer an unusually high price, but then simply add their margin to the price of a new car.

A better bet is to ask the dealer what the changeover price is, which means the price of the new car minus the price of the trade-in. This is the number that you can use to shop around for the best price.

Paint colors

You might think bright purple paint looks amazing, but not everyone does and it can be a selling problem.

Extreme colors, often referred to as hero colors on hot Falcons and Commodores, are a mixed bag. In some cases, the color of the hero is considered positive, especially for some high-spec models, as they are considered an iconic version of that model (think Vermillion Fire GT-HO Falcons). Brighter colors can quickly become obsolete, attracting fewer customers. Black can be tricky to keep clean, but experts say it won't hurt resale value. Metallic paint initially costs more, but in the used car market, it costs no more than a regular color.

The smell of a wet dog is unlikely to increase your chances of getting a good price.

Dogs

Dog hair has a habit of getting into every nook and cranny of a car, and the smell of a wet dog is unlikely to improve your chances of getting a good price. If you need to take your pet to the nearest park for a walk, make sure you isolate them, preferably with a perspex screen and a mat that keeps drool and hair out of the loading area. It's also safer for the dog and family on the go.

Available options

Just because you spent $3000 on a sunroof doesn't mean your next car buyer will. In fact, additional options rarely increase the value of the car.

«You are better off buying a higher grade of vehicle than choosing a lesser model and adding options,» says a Glass’s Guide spokesperson.

Something like large alloy wheels, if they are genuine, can add interest to your car. 

Leather seats can cost more among used cars if maintained, but are usually only a fraction of the cost of a showroom option.

Something like larger alloy wheels, as long as they are original, might help increase the interest in your car when it comes time to sell, but you are not necessarily likely to get back the money you spent on the items in the first place.

Be smart with modifications

Modifying your car is a good way to reduce its value. "If a car looks like it was being driven by a hung, it won't cost as much as a standard model," a spokesman for Glass said.

Customers will assume that the vehicle has been driven extensively and quickly if it has any performance modifications. Warning bells are set off by mechanical changes such as larger exhaust pipes and air intakes, but even non-genuine wheels can scare potential customers. The same goes for off-road accessories. If you need to make changes, keep the original part and reinstall it when it's time to sell.