3 Ways You’re Decreasing Your Trade-in Value
It’s an unavoidable fact of life that vehicles depreciate over time. The longer you drive your car, the more mileage and wear and tear it will incur. You might also have to face changes to the local market, including basic supply and demand.
Understanding these facts, it’s important to control what you can to increase your chances of securing a great deal when you’re ready to sell your car, which you can do right online with AcceleRide®. Ordinary things you might be doing that decrease your vehicle’s trade-in value include these three ways listed below.
Oil changes, brake inspections, and transmission flushes are all simple ways to keep your vehicle’s internal system in great shape. A vehicle history report will keep tabs on every bit of maintenance, making it easier for our appraisers to assess your vehicle’s overall quality.
That is why it is key to stay on schedule for your car’s routine maintenance, which you can do by following the recommendations found in your owner’s manual. Dashboard warning lights, leaky underbodies, and noisy engines are often red flags. So, it’s a smart idea to have a certified mechanic take care of them before your vehicle’s official inspection. Doing so can often end up adding significant value. Additional areas you might want to inspect:
- Tire quality
- Emissions system
- Exterior/interior lighting system
Think attaching a rear spoiler gives your car serious street cred? Make sure it doesn’t also permanently alter your vehicle’s value. While personalizing your car, truck, or SUV is one of the joys of car ownership, keeping alterations to a minimum is typically the right move.
Expensive sound systems and deep-tinted windows also tend to have diminished returns. So, unless you intend to keep your vehicle for many years, give serious thought to how much stylization you plan to make.
If you’re the type of driver who considers their vehicle a second home, paying attention to the annual mileage is important. Once your vehicle surpasses the 100,000-mile mark, major engine components will start needing to be replaced. You also might start to see fading and minor scratches to the exterior.
To avoid taking a big financial hit, plan to trade in your vehicle before it surpasses this milestone. If your vehicle is well beyond the 100,000-mile mark, don’t fret: If your vehicle is in great condition, it’s still possible to receive an attractive offer.
Now that we’ve gone over some of the ways your car’s value may be decreasing, let’s talk about some actionable things you can do that could potentially boost its value. If you are looking to sell your car or trade in your ride for a new set of wheels, checking off these items beforehand can set you up to earn the best possible offer for your car.
While your car’s value is based on some things you can’t control, like its mileage and the exact model you drive, the overall condition of the vehicle is also a big factor in determining its value. That is why these three items that could potentially boost a car’s value focus on ensuring it is in its best possible condition.
As we mentioned earlier, keeping up with regular maintenance and service can significantly increase the value of a car. Ensure that the oil changes, tire rotations, brake inspections, and other routine maintenance tasks are up to date before you go ahead and complete any services your vehicle is done by either yourself or at your local dealership’s service center.
Be sure to also use OEM parts for your car that you can order at your local dealership to ensure your vehicle continues to be built with the durable parts that were specifically manufactured to fit your car. These services might be just a minor cost compared to the increased value they can add to your car.
Documenting these services as well in a maintenance log can provide potential buyers with confidence in the car's condition and upkeep.
First impressions matter, so investing in cosmetic improvements can enhance the overall appeal of the car. Start by examining the exterior of your car to see if there are any minor dents, scratches, or paint chips. If you do find any, you’ll want to consider getting them fixed.
You can then have the exterior of the car washed and detailed so it will look shiny and new for its photoshoot. Including photos of your car when submitting your vehicle’s information will allow us to give you a more accurate offer for the value of your car.
Then it’s time to shift to the interior of the vehicle. Check to make sure everything is working properly and start to clean the seats, dashboard, and floor mats. As you vacuum out your car, consider working on removing any stains and be sure to remove all your personal items before selling your car.
Adding modern features or upgrading existing ones can make the car more attractive to potential buyers. This might include upgrading the stereo system, installing a modern infotainment system, or adding advanced safety features.
However, it's essential to consider the cost-effectiveness of upgrades, as some may not yield a significant return on investment. If you do notice, though, that the heating system or the interior lighting isn’t working properly, having these features fixed before selling your car will ensure that you retain your first offer after your vehicle is inspected.
At AcceleRide®, it’s our mission to make trading in your car simple and rewarding. That is why with your car in great condition and ready to be transferred to a new driver to enjoy, all you’ll need to get started is a smartphone and a few minutes.
Tell us a little bit about your car and one of our friendly trade-in experts will quickly be in touch. We look forward to serving you. Contact us!