How to Retain Your Car's Value
How To Retain Your Car’s Value
When looking to sell your car, you may be shocked to find out that it has dropped in value, or may not be worth as much as you thought it would be. There can be plenty of reasons why this might occur, but GoodBye Car are here to help with some advice and tips on how to retain your car’s value, as well as add value to it in various ways too.
Restore Plastic Trims to Add £60
The black plastic trims can really ruin the aesthetic of your car when they become scuffed and damaged. If the colour begins to wear away and leaves them looking old and tired, it could cause the value of your car to depreciate.
There are a few reasons why the paint might wear away, mainly from the UV rays of sunlight, which dehydrate the plastic and degrade it. It could also be caused by surface water and grime being thrown onto the surface of the plastic.
There are a few methods for restoring the trims on your car, including products such as Carpro PERL and Gtechniq C4 Trim Restorer. Our advice would be to make sure the trim is clean first, then apply the restorer in a sheltered area, as you want to give it time to dry thoroughly. Keep on top of applications too, as they’ll likely need a top up.
Amount Added To Value: £60
Remove Smoke Smells with White Vinegar and Baking Soda to Retain £2,000 of Your Car’s Value
Smoking in your car may seem like a pretty small thing, but it could end up costing you thousands of pounds in ‘damage’. Car valuation expert James Dower suggested that you could lose up to £2,000 in value if you smoke heavily in your car. In some cases, dealers will refuse to buy the car at all if there is evidence of extreme smoking.
Getting rid of smoke smells in a car is no easy task though, especially if the smoking had been ongoing for a number of years. The issue is that the smells get into the upholstery and make their way into the air conditioning system too. The fix for this isn’t an easy one, with the most successful options being steam cleaning, antibacterial cleaners and wet vacuuming. Deep cleaning a car can cost around £150, but is worth it to maintain the overall value of your vehicle.
Amount Added to Value: £2000
Sell Convertibles in the Summer for a 10% Price Increase
It seems pretty straightforward, but when the weather turns in the spring and summer the demand for convertible cars skyrockets. After all, no-one wants to drive with the top down when it’s -2 degrees in December, do they?
As such, a great way to maintain the value of your car is to sell it at the right time. By selling your convertible in the summer months, you can add up to 10% to its valuation.
Amount Added to Value: 10% of Value
Sell SUVs in Winter Months to Add 12% to your Sell Price
On a similar vein, the opposite is true for big cars such as SUVs in the winter months, where they are much more useful when driving through the snow and ice than a standard smaller car. If you own one of these types of vehicle, keeping it in prime condition until the calendar hits November or December is advised, then you can cash in for the maximum profit on your investment.
Timing the sale correctly doesn’t cost you anything, but it could net you an extra 12% on average.
Amount Added To Value: 12% of value
Wax Your Car Regularly To Add £150 in Value
Cleaning your car can often become a chore for many people, it’s important to keep it in good condition otherwise the paintwork can start to deteriorate. In turn, this can of course contribute to a dip in your car’s valuation, which could end up costing you.
The annoying thing about paintwork is also that once it starts to fade and discolour over time, it’s almost impossible to reverse the damage. Keeping on top of waxing and polishing your vehicle is a crucial part of maintaining its value. Waxing your car at least twice per year is advised, using a high-quality wax product. The best times to do so are once before autumn begins and again at the start of spring.
The average cost of paintwork damage to a car is around £150, so it’s well worth keeping up with a solid cleaning routine.
Amount Added to Value: £150
Keep The Wheels Sparkling To Add Up To £400
When buyers are looking at your car, one thing that’ll immediately catch their eye is a set of shiny alloy wheels. If the wheels are covered in dirt and brake dust, it’s going to take money off the overall value of your car. The dirt can also lead to corrosion and rust, which will cost you even more money.
If the wheels are in great condition, it makes the car look fantastic as well as being a clear sign that the car has been brilliantly looked after. As such, it’s likely to encourage buyers to fork out that little bit extra when you decide to sell.
It’s simple to do: just rinse your wheels often and use an alloy cleaner to remove any dirt without causing damage.
Amount Added to Value: up to £400
Ensure You Have All The Important Documents, or it Could Cost You £65+
People often don’t realise how crucial having the right documentation is when it comes to selling a car. The reality is, people interested in buying your car want to see that it’s been maintained correctly, as well as knowing its ownership history. Many people shove their papers in the bottom of a drawer and unfortunately end up losing them.
The best advice we can give is to keep all of these documents in a safe file somewhere for when they’re needed, otherwise you’ll probably struggle when the buyer has questions about the car’s history. If you don’t have the answers or the documents to back you up, it could cost around £65 to replace them.
Amount Added to Value: £65
As discussed, there are plenty of steps you can take to help maintain or even add value to your car before you sell, but the key takeaway is to look after it every day, not just in the few weeks before you decide to sell.