- Many Canadians will be changing cars this spring
- These tips can help your car sell faster
You have chosen your next vehicle, and all that remains now is to get rid of your current car which has served you well all these years, but is now starting to feel a bit tired. You thought about trading it in to the dealership, but the amount they are offering isn’t up to your expectations.
After a few calculations to make sure that this is the best option from a financial point of view, you decide to sell your vehicle yourself. So here are some tips that can help you make sure your car sells quickly, and without too much hassle.
Maintain and service your vehicle
Maintenance and service are the keys to good resale value. Buyers who are looking for a used vehicle want to know that the vehicle they are going to ultimately buy has been properly maintained and will be reliable and safe. The best way to demonstrate the quality of your vehicle when reselling it is to perform all of the scheduled maintenance at the dealer over the years. You will then have a vehicle service history report which you can be proud of when presenting the vehicle.
And if you are the victim of an accident, make sure you have the vehicle repaired at a recognized body shop and use genuine parts. In doing so, you will reduce the impact of the accident on the resale value of your vehicle.
Choose your equipment and color wisely
It is true that some vehicles are very beautiful painted in lime green or metallic bronze. That said, remember that many consumers prefer gray, silver or white. Choosing a vehicle with a more neutral color will attract more buyers.
Also, be aware that used vehicles with full equipment are easier to sell. So, if your budget allows it, go for the leather seats, sunroof, rearview camera, heated seats, blind spot monitoring system, heated steering wheel, navigation system, dual zone climate control or active driving assistance systems.
Of course, you cannot add all these features on all vehicles, and if you do it will be expense. The idea here is that even if you do not think you need a particular equipment or technology, you should still consider adding it to your new vehicle if your budget allows for it, just for the sake of resale value.
Consider an extended warranty
The majority of new vehicles come with two main warranties, the manufacturer’s warranty that is 3 years or 60,000 kilometers, and the 5-year or 100,000-kilometer powertrain warranty. The terms may vary from manufacturer to manufacturer, but those are the most common.
However, if you are thinking about keeping your vehicle for longer than three or five years (or you are thinking of traveling more than 100,000 kilometers before reselling it), an extended warranty may be an attractive option. Firstly, you can add it to your financing so that it will cost only about ten dollars a month, and you will then be protected from mechanical trouble after the end of the initial warranty.
But above all, you will have a sizeable argument to convince someone to buy your vehicle in a few years and your resale value will increase compared to another vehicle that does not have an extended warranty.
Thanks to Whitby Toyota for their help with this article!