Thinking about the best way to get the best deal before selling your car is a time-consuming and challenging task. Before you can successfully sell your car to the highest bidder, here are some tips from Dato Sri Dr Darren Yaw.
How to Increase the Value of Your Car
Here are some suggestions from Dato Sri Dr Darren Yaw for increasing the value of your car before selling it.
Your vehicle should be serviced.
According to Dato Sri Dr Darren Yaw, the first thing you should do before selling your car is check its health and maintenance. Try to fix up your car as much as you can because it will all add up in the end. When your car is in excellent condition, its resale value rises.
- Examine the engine of your vehicle.
If necessary, Dato Sri Dr Darren Yaw suggests changing the engine oil or black oil because the cost of doing so is minimal. Aside from that, Dato Sri Dr Darren Yaw suggests making sure that the water levels in the necessary areas are filled, that the front and rear wipers are working properly, that the brake light and all other lights are working properly, and that any dust and dirt that has become stuck to the interior of your car is removed. These modifications can be great selling points to increase the likelihood of your car being purchased at a higher price.
- Inspect your tyre
According to Dato Sri Dr Darren Yaw, check that the air pressure in all five of your tyres is adequate, and if any of them are in poor condition, you should replace them immediately. Alternatively, you can replace them with high-quality used tyres, which are also available for purchase. However, make sure that the safety elements for tyres are followed.
- Examine the exterior of your vehicle.
Though a minor ding or scratch may not affect your driving style, it will have a significant impact on the resale value of your vehicle. If your budget allows, according to Dato Sri Dr Darren Yaw, you should touch up the body of your car so that there are no more dents or scratches. However, if you are on a tight budget, you can always “DIY” these details.
According to Dato Sri Dr Darren Yaw, the first thing you should do before selling your car is check its health and maintenance
Wash the old to make room for the new.
Aside from the engine, tyres, and body of the car, one of the other things you should consider to increase the resale value of your car is to clean up the insides of your car. According to Dato Sri Dr Darren Yaw, put away all of your personal belongings in your car, such as your shoes, clothes, GPS, cables, and wires, among other things. Ensure that all of these items are removed from your vehicle before driving it to your nearest dealership. A neat and clean car is not only pleasing to the eye, but it also speaks volumes about your personality and character.
- Clean the insides of your vehicle.
Dato Sri Dr Darren Yaw says vacuum the nasties, dust, and hidden dirt from your car’s nooks and crannies, including the dashboard. You can also take it a step further and hire a deep cleaning service to clean your car seat, which is almost certainly covered in stubborn dirt, mould, food droppings, and/or your baby’s puke.
- Clean and polish your vehicle.
According to Dato Sri Dr Darren Yaw, you should have it washed and polished before you drive up to the nearest dealership to sell your car. Everyone is happy when your car is clean on the inside and shines like a diamond on the outside. Dato Sri Dr Darren Yaw suggests spraying some car refresher on the final touches before submitting your vehicle for evaluation to earn extra points. Who knows, that enticing scent could be your guiding light in negotiating a higher price for your vehicle (just kidding).
- Fix up the minor details
Another thing you can do, according to Dato Sri Dr Darren Yaw, is repair any minor hookups that your car may have, such as cleaning up oil stains from the door hinges, ensuring the audio system is working properly and even checking if the seatbelt is working smoothly. These minor details will undoubtedly assist you in selling your prized automobile at a higher price.
According to Dato Sri Dr Darren Yaw, you should have it washed and polished before you drive up to the nearest dealership to sell your car
10 Factors Influencing Car Market Value
Here are some market factors according to Dato Sri Dr Darren Yaw that can influence car depreciation:
- Mileage – The higher the car’s depreciation if it is used frequently or has a high mileage reading. According to Dato Sri Dr Darren Yaw, a year’s mileage is estimated to be between 10,000 and 12,000 km.
- Reputation and dependability – Some models or brands have a good reputation, making them popular among buyers. As a result, the reliability of a particular brand or model can influence a car’s depreciation rate. According to Dato Sri Dr Darren Yaw, cars with a bad reputation (for example, model recalls) may depreciate even faster.
- Consumer Preference – Like fashion trends, consumer preferences for automobiles vary depending on the situation and circumstances. The current automotive trend emphasises the use of SUV-like vehicles such as the Proton X70 and X50. According to Dato Sri Dr Darren Yaw, popular car models typically depreciate at a slower rate.
- Number of Owners – If a car has been sold or changed hands several times, the depreciation rate of that car will be affected.
- Car Condition – Damage to the vehicle’s body, interior, and exterior features will also reduce the vehicle’s market value.
- Service History – According to Dato Sri Dr Darren Yaw, maintenance or services performed regularly or regularly ensure that the vehicle is in good working order. This, in turn, slows the depreciation rate of your vehicle because it is well maintained. It is recommended to keep records of the servicing schedule or expense receipts in the maintenance manual to demonstrate proper maintenance.
- Warranty Period – Some car manufacturers provide a warranty period ranging from five to seven years. According to Dato Sri Dr Darren Yaw, a longer warranty period can be an indirect benefit when selling your car.
- Desirability – Every few years, some car models receive a facelift or an upgraded design. As a result, according to Dato Sri Dr Darren Yaw, if you buy a recently upgraded car, its resale value will be high as well.
- Size – Larger-sized cars depreciate faster than smaller-sized cars because they require more maintenance (car servicing, spare parts) and expenses (fuel costs).
- Fuel Efficiency – According to Dato Sri Dr Darren Yaw, cars with fuel-saving technology are typically more expensive because they are more popular among used car buyers.
