Things that Can Affect your Car's Resale Value

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Things That Can Affect Your Car's Resale Value
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Some people buy a car with the intention of
keeping it until it has run into the ground. But,
inevitably something happens and they are forced
to sell it.
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It is times like these that your car's condition
suddenly comes to the fore, and you may not be
prepared to deal with the reality.
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There are certain factors that affect
depreciation and the resultant resale value of a
car. If you are unaware of this it will surprise
you when you try to resale your car.
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While most of the people believe that the sole
factor that decides the resale value of a car is
its current working condition, nothing can be
further from the truth.
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There are several factors that affect the resale
value of your car. Let us discuss some of them.
Brand Color of paint Condition of the car
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Brand
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Given a choice most people will always prefer a
brand that is known for its reputation for
impeccable quality, and this definitely not
without any reasons.
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When purchasing a pre-owned car, models that are
known to be low on maintenance and efficient,
even after the car is a few years old will always
attract people.
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Hence, if you want to sell your car at a good
price a few years down the line, it is safe to go
for reputed brands, even if they are costly.
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The brand name does play a pivotal role in
determining the resale value of a car, and some
names can fetch you close to 60 of your initial
cost.
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Color of paint
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This may sound unfair to some, but the fact
remains that you should choose a car that's
painted in one of the more 'popular' colors,
instead of a color of your choice.
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While it is fine to go for any glamorous or bold
color if you don't intend to sell the car, you
should stick to the basics if you see yourself
trading it for another car in the future.
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However, there is an exception, if the car is
collectible or limited editions of a specific
model, which are only available for a limited
period, then it will be highly sought-after in
the coming years.
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Condition of the car
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When we think of the factors affecting the
resale value of pre-owned cars, the first that
comes to our mind is the condition of the car.
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The fact that a car which looks new fetches a
higher resale value than a car that is in a
relatively poor condition is universally true.
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You have to make sure that there are no visible
dents, scratches, rust marks, and other signs of
damage to your car's exteriors.
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Also, deep scratches or marks caused due to
accidents in the past can drastically bring
affect the resale value of your car.
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Finally
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These are some of the factors that can negatively
affect the resale value of your car and leave you
disappointed.
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The best thing to do is to get your car serviced
regularly to rule out prospective problems in the
beginning and ensure that your car is in a good
shape.
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