Maximising the resale value of your car


By EUGENE MAHALINGAM







eugenicz@thestar.com.my



SO, you want to sell your car. Naturally, you’ll want the best resale value your ride can offer.



However, the automobile (like nearly everything else) is already depreciating in value the moment you turn the ignition switch for the first time (unless of course, it’s a classic or collector’s item).



Some experts claim that the value of your car goes down by 65% in just five years of normal driving.



However, a vehicle’s resale value is dependent on a number of factors – the demand for that particular make and model, mileage and if it’s accident-free or otherwise.



On top of that, second-hand car dealers and banks also have their own methods of evaluating the resale value of your vehicle.



So before you slap on the “for sale” sign on the side of your vehicle, here are a few simple tips that could help maximise its resale value.



Don’t crash



Other than the age of your vehicle, knocks, dents or scratches can pummel the resale value big time.



If your car has been involved in an accident, get it fixed immediately, says Chong, a used-car dealer in Kuala Lumpur.



“An experienced used-car dealer who is evaluating the value of your car can spot the signs of an accident a mile away! If you do get that dent fix, always get it done through a reputable workshop.



“Also, don’t compromise if you need to replace any spare parts. Always use factory or original parts, as they’ll last longer and will of course give added value if you want to sell your car.



You can also command a better price if the parts are genuine.”



Chong adds that it doesn’t hurt to be honest about the accidents or repair jobs on your car with the potential buyer when you plan to sell.



“Keep all records, like receipts of the repair works that you have done to your car. If you try to be evasive, the potential buyer may think that the damage could be worse than it seems.



Sending your car for regular service will ensure it’s performing at optimum level. What’s more, it also shows that the vehicle has been well looked after by its previous owner.



Stick to the maintenance schedule



Chan, a car salesman from Kepong, says it is a good habit to keep records of maintenance schedules of your vehicle.



“You should keep receipts for all maintenance and repair work, no matter how minor. Having documents of your vehicle’s service history will be the best evidence that your car has been well maintained,” he says.



He adds that buyers are also willing to pay a higher price for vehicles with proper documented service history.



Keeping your car clean is also a sign that the car is being well maintained. “If there is a stain on the upholstery, clean it up quickly. Regular washing and waxing will also help keep your car in tip-top condition and make it more appealing to potential buyers,” says Chong.



Fix it now



If your trip odometer is no longer functioning or one of your headlights isn’t working, get it fixed as soon as possible, advises Ali, another used-car salesman in the Klang Valley.



“When there’s a problem, get it done immediately. Do not let your car slip into a state of disrepair. The more problems you need to fix, the more money you’ll need to fork out.



“Some problems, if left unattended for too long, also cost big bucks to fix. A vehicle with prompt and correct maintenance will have much better resale value,” he says.



Don’t ‘pimp it’



Shows like MTV’s “Pimp My Ride,” where ordinary cars are subjected to insane visual and performance modifications, may look spectacular on television, but in reality, adding crazy modifications to your vehicle will only depreciate its value.



“There’s a reason why a car is meant to use factory parts. Customising it and adding parts that were not designed for it in the first place could actually do more harm than good to your car.”



Vincent, who works in a vehicle after-market shop in Petaling Jaya, says any car customisation should only be attempted after thorough research.



“Speak to professionals, mechanics or even other similar vehicle owners and get their opinions first. The modification should be an enhancement and not be destructive to your vehicle.



“Super-large rims may look cool on a car but it could affect the handling and nobody wants a car that is difficult to control.”



Vincent says modifications such as an upgraded stereo system, adding a sun roof or window tints that are within regulations, can enhance a car’s resale value.



“Actor Vin Diesel looked cool in his tricked-out cars in the Fast and Furious movies, but it’s best to leave the over-the-top modifications to Hollywood.”