How to improve the value of my car?
As a car owner, you are going to want to retain as much of the value of your vehicle as possible. After all, regardless of the make or model, buying a car is a considered purchase. While depreciation is something all car owners have to contend with, there are many other factors you have much more control over, that could determine if you’re able to get a decent amount for your car.
If you are looking to improve the value of your car, here are our top tips to guide you.
1. Watch the milage
If retaining the value of your car is your top priority, then be sure not to clock up too many miles on it. Think about when you are buying a car, and how you are put off when you see the car isn’t that old but has already done over 100,000 miles. It’s not that you won’t buy it at all, but you realise the price is too high and so you negotiate it down. The same could well happen to you if the miles are excessive, especially if it’s a newer car.
The solution could be to buy a cheap ‘runaround’ car such as a Ford Fiesta or a good old Vauxhall Corsa. If you do a lot of long-distance driving or even enjoy a good road trip, buying a second car is a really great option to consider. The more prestige your cars make and model is, the less mileage you want to be clocking up if the car’s sale value is the most important thing to you.
2. Carry out regular maintenance
Your car should be supplied with a maintenance schedule, and if your car has smart features it may even alert you when certain aspects need checking. When it comes to improving the value of your car, it pays not to ignore regular maintenance checks as these could lead to further problems that are more costly to fix.
If your car requires excessive maintenance, then consider whether you’d retain more value from trading it in. After all, if your car is worth £2,000 but requires £5,000 to get it up to standard, the overall value is unlikely to be recouped, so trading or scrapping your car would get you the best price.
3. Keep hold of your log book (V5C)
Buyers want assurance that the car they are buying has been properly serviced, which is why log books are so important. If you want to improve the value of your car, then buyers are going to want to see this, as not having one can raise questions about its condition. Having assurance about the work that’s been carried out on your car is more likely to raise its value, versus not having one.
If your cars log book is lost, it costs £25 to order a new one from the DVLA. This small expense will definitely be recouped when you try and sell your car, as buyers will be wary if one is not supplied, meaning you might not get a good price on your car.
4. Keep it clean
If your car is your pride and joy, then treat it that way by giving it a regular clean. Buyers will associate the care you put into your car with its value, so although it takes time it can really be worth your while.
As well as regular washing and cleaning, simple steps such as placing foot mats down can protect from stains. Avoiding smoking in your car as the smell can linger heavily in the fabric of the seats. It’s also a good idea not to let your dog run around in the car in case this creates smells or damage.
5. Watch where you park
Similar to how where you park your car can affect your car insurance, the same is true for retaining the value of your car too. If possible, you should always park your car in a garage space that will protect it from the elements as well as road traffic or would-be thieves, as either of these can devalue your car. If your car is extremely valuable but you don’t have a garage, you could consider renting one nearby.
When parking in a public space (such as a carpark) try and avoid parking too close to other vehicles, as this could result in dents in the body. Also avoid parking in unsafe areas, especially if there’s no CCTV or parking warden, as this could leave your car open to vandalism.
6. Drive with care
It goes without saying that if you drive erratically, or if bollards are something you don’t mind hitting every now and then, that your car will show this and the value will be reduced. While minor bumps and scrapes can be dealt with, a poor standard of driving can really take its toll on almost every part of your car.
If the value of your car is important, then be careful who drives it and how they do so. After all, it can be really costly to repair your car which may reduce its overall value, when you compare it to how much it’s actually worth. If you have newly passed your driving test or lack confidence on the road, consider whether it would be better to trade in your car, while it still retains most of its value.
7. Get the best quote
The money you are able to get for your car ultimately comes down to how much someone is willing to pay for it. Here at Jamjar, we keep things simple by giving you a list of quotes just by entering your reg number. By giving you a list of buyers and what they’d be willing to pay for it, you can make an informed choice to help improve the value of your car.
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