Factors Affecting Resale Value Of A Car - 10 Things You Should Know!

In recent times following the after-effects of COVD-19, given the fact that more people are preferring to commute and travel in their own car rather than taking the public transport route, sales of the used cars is gradually rising across the globe. However, there are certain aspects which need to be kept in mind while trading a used car. So, what are these factors affecting resale value of a car? Read on to find it out.

1. Accidental History The resale value of the car deteriorates sharply if the car has a history of an accident  the more is the magnitude of the accident occurred, the lesser is the resale value of the car.

2. Brand In the Indian context, this factor matters a lot. The more popular brands in all kinds of areas, whether urban or rural, such as Maruti Suzuki, Hyundai and Mahindra do fetch higher resale values in comparison to the brands which have lower volumes, like Volkswagen, Renault and Fiat, as the formers gain an advantage in the form of ease of servicing with more touchpoints and lower cost of spare parts and maintenance.

Read Also: Can Regular Car Service Improve Mileage? Know More!

3. Cleanliness The condition of the car, especially on the inside, is the first thing the next buyer seeks when you ought to sell your car to him/her. A neatly kept and clean cabin on the inside gives a first strong impression to the onlookers of your car.

4. Manufacturing Year No matter how new your car might look from the outside, the manufacturing date mentioned on your cars registration certificate also plays a major role in the resale value of your car. The older the date, the lower will be the value of your car.

5. Engine and fuel option An engine with lesser mileage on the odometer ensures that the vehicle hasnt been used extensively, thus giving a slight impression that more car has been given to the car. Also, given the current trends in India, petrol-powered cars fetch more resale value in small car segment as compared to the diesel one, and the same is vice versa in case of bigger cars and luxury vehicles.
6. Condition of the Components and Parts All the mechanical and electrical components, such as those related to the engine and gearbox, tyres, wheels, battery and electrical systems should be in proper condition. Doing so will avoid any kind of repair and maintenance costs, on the basis of which you can demand a higher resale value.

Read Also: White Smoke Coming From Car Exhaust? Check All Reasons Here!

7. Condition of the Body Panels The body panels of the car, such as bumpers, fenders, bonnet, doors, boot lid and dashboard, should be free of any kind of scratches and dents, and should be fixed properly without any kind of rattling. This makes sure that the car hasnt been abused much by you.

8. Body colour You might have gone for the paint option of bright red to look different on the road, however, the next buyer might not think the same. The resale value is higher of those cars which are painted in more sober colours like white, silver and grey, as compared to the vibrant ones like red, yellow and orange, as the former ones are easy to maintain and have better shine in the long run.

9. Proper Service Record If your car has an irregular service record in the past, and you have skipped the scheduled dates or kilometres limit of the service, there are strong chances that it will reduce the resale value of your car. This creates an impression that you have not maintained your car properly.
10. Fuel Efficiency Most of the used car buyers have an economy as a topmost priority, which is why they prefer cars which deliver more kilometres to a litre of fuel. The cars with better fuel efficiencies command a higher resale value than the performance-oriented ones preferred by enthusiasts.

Read Also: Authorized Service Center Vs Local Garage - Where Should You Get Your Car Serviced?

What are your thoughts about the factors affecting resale value of a car? Do let us know in the comments box. You can also join our 91Wheels Auto Enthusiast Telegram group (click via mobile to join) to be a part of interesting automotive discussions. Further, subscribe to our YouTube channel for more such amazing motoring updates.