When purchasing a new vehicle, we do not immediately consider the moment of resale that will inevitably come up in the future. After all, our new car will be with us for several years, so it’s not a necessity to think about that aspect, right?
In reality, it’s not that we do not intend to resell the car (obviously most of us do), but it’s something to consider as it’s still possible to improve its resale value from day one of ownership. Often there are options to select from and choices that can be made at the time of purchase that will help to increase the value of the car within a few years.
To learn more about these options, we talked with the sales representatives at Gyro Mazda.
1. The type of vehicle
The car itself largely determines the resale value. Today’s most popular cars will surely have a stronger resale value in a few years. In addition, the choice of colour, equipment, engine type and model version will have an effect on the value.
Vibrant colours are generally less popular than the more sober colors like black and gray, whereas when it comes time to resell, a well-equipped vehicle with a sunroof, heated seats, Bluetooth and other options will have more worth.
To maximize the resale value of your car, it is suggested to buy a popular vehicle that will not be discontinued over the next few years. Also, choose a colour that everyone can appreciate.
2. The extended warranty
A used car with a guarantee is more valuable than a model that is no longer under warranty. If you intend to keep your car for less than five years, then the manufacturer’s warranty will still be applicable, as opposed to holding onto your vehicle beyond the warranty. (Although, some manufacturers offer a basic warranty that exceeds five years.) The extended warranty can play a major role when it comes time to sell.
3. Protect your car
The state of the car’s paint job and body structure will also significantly affect the resale value. When buying your new car, consider adding a protective film on the front of the vehicle, along with a paint sealant to preserve the appearance.
You can also protect the model’s interior by opting for a tissue sealant, which prevents the seats from being stained. Finally, the majority of new vehicles receive a rustproofing treatment from the factory, but if this is not the case with your vehicle, it may be a worthwhile investment to prevent rust.