What mostly affects the resale value of a car?

Have you ever noticed a group of identical used cars having different prices? That's because no two cars on the used market are the same. The main thing that determines a used car's price is its resale value. Some cars have had hard lives and were driven aggressively for a long time, while other cars were barely driven at all. Some may have a detailed history of regular maintenance, while others have no history at all.

Increasing your car's resale value is very important. It has to be a top consideration for people who want trade in their cars every several years. Whether you were buying or selling a used car in UAE, you have to stay in control of resale value. To do that, you need to know the factors that affect the resale value of a car. In this article, we'll go over the things that can change how much a car is worth on the used car market.

Brand and model

Increasing your car's resale value begins when you buy a car in the first place. It is no secret that some brands maintain their resale value better than others. Brands and models that are known for their excellent reliability history, dependability, and durability maintain their value better than others. Do your homework and check out the brands and models that have the best resale value before buying.

Mileage

People buying used cars will surely look for the least-used options out there. So it comes as no surprise that the more mileage a car has, the less its resale value. A low mileage used car will always have more price than a one with high mileage.

Exterior condition

The overall appearance of a used car will always contribute to its resale value. No one wants their car to be rusty, scratched, worn out and rough. So if you've kept your car in good cosmetic condition, there's not much to worry about.

Interior condition

Just like the exterior, the interior condition will also affect the resale value of car. A clean and well-kept interior will surely increase the resale value. Make sure to take care of your cabin and fix any worn out parts before trying to sell it.

Mechanical condition

Any performance issue of a car will decrease its resale value dramatically. Cars with smoke coming out of the exhaust, squeaky suspensions, leaking oil, bad tires, or any other mechanical issue need to be fixed. The best way to keep your resale value higher is to complete all the scheduled maintenance and keep track of all the service records.

Collisions and repairs

Any car that has been involved in several car accidents and collisions will have reduced resale value. Repairs on record will also reduce the resale value and make it less attractive for buyers. However, providing details of where the car was repaired and how the fix process went can help reduce the loss in resale value.

Color and customization

If you care about your car's future resale value, make sure to choose a popular color that people like. For example, a silver car may have better resale value than a yellow car. It is wise to stick to a more neutral color that will appeal to more people in the future. Customizations will also play a role in increasing or decreasing the resale value, since they are very personal and may not appeal to everyone.

Supply and demand

The supply and demand affects the used cars market greatly. For example, special edition cars and cars that were made in limited numbers get bonus points in the used car market. Certain cars, like sports cars, will have better resale value if equipped with a manual gearbox rather than an automatic one. An automatic equipped mass market car will be also more appealing to people than if it had a manual. An important thing to keep in mind is timing. If the used-car market is soft, wait several months until demand is higher. After all, it all depends on the market and what people like.

To sum it up, regardless of what car you own, the quality of its care and maintenance will influence the resale value. Keep your car in a good condition from inside out without forgetting the health of what's under the hood. If it looks good, performs well, and has low mileage, you're on the safe side.

---