Tuesday, May 12, 2015

How to Increase the Value of Your Car

As soon as you drive your brand new car out of the dealership, its value immediately depreciates as much as 20%. And while it can be tempting to pump a lot of money into upgrading your vehicle when you’re preparing to sell, rarely do these customizations actually add to the resale value of your car. It is advisable that you instead focus on your car’s original condition, perform routine maintenance and handle any necessary fixes that might prevent the car from running at the peak of its performance. The brief guide below will outline several ways that you can increase the value of your car when you choose to pass it on to another lucky driver or trade it in for another vehicle.

Know resale values when you buy – If you’re currently shopping around for a newer vehicle and know that you’ll be unloading it after a couple of years, be sure to do your research on the makes and models that hold their value the best. These cars will typically have a history of being durable and reliable, therefore making them more attractive to potential buyers. Makes like Toyota, Honda, Subaru, Lexus and other imported vehicles typically hold their value better than most. Used car pricing websites like Kelley Blue Book are helpful in providing resale estimates, so you can get a better idea before you even buy.