How Your Neglect Affects Your Car’s Resale Value

We know the joy in caring for something new that you are passionate about. The attention it gets, and the detail that goes into it. If you are an automotive enthusiast reading this, you should be able to understand what we mean. Your car would be washed weekly with various cloths and sponges, and the interior will be vacuumed and wiped down to a tee.

 

Does this look like you? Credit: Confused.com

What about the everyday car owner? What about the working parent that juggles two jobs, or the men and women in the service industry that do not have the time to spend on the little details? We know it can be difficult to keep track of things like these, but when it comes to more important parts like scheduled maintenance, oil changes, tyres, brakes, and even your wipers, we should pay closer attention.

There is no doubt that these parts are paramount for your own safety in the long run, but more than that, the lack of care on the necessities can also hit you when it comes to the resale value of your car. How? Read on…

 

Mechanical Negligence

This is what happens when you don’t change your oil past 100,000 km. Credit: Jalopnik

When it comes to mechanical disregard, the inattention of a minor fault can result into a domino effect of endless repairing nightmares. Repairs should be taken care of when the faults are at an earlier stage. This not only prevents the build-up of problems but also ensures your car runs at its best. After all, your car relies on different components to work together for a safe and reliable drive.

 

Ma! Look at how clean this is!

Regular oil changes, especially for the engine and transmission are vital to maintain the efficiency and durability of the components inside. While there may be salvaged or new parts available to replace them, often times, it puts off buyers knowing that major components have been replaced – and these could be easily verified.

 

Lack of Maintenance Records

Credit: Borderreivers.com

Speaking of services and regular maintenance practices, the receipts and records of it are just as important as the maintenance itself. While most potential buyers are concerned with only checking the physical condition of the car, it’s a value-added gesture that most buyers appreciate.

These documents go a long way into vehicle ownership; that you’ve been meticulous with the maintenance of your car. Whether if it’s just for a service or for a major repair, having these records kept intact allows the potential buyer to have a clear idea of what the car has been through in its lifetime.

 

Over Modifying

Credit: Driven.co.nz

Widely discussed is the following behind car modifications. While many do it as an extension and individualisation of the car, doing so could affect its resale value. Those that know the car market say that it generally isn’t a good idea as those who appreciate the upgrades or modifications are few and far between. You could get away with a small mod, but something bigger could be a put off.

Whether it’s stickers or wraps, an engine swap, or a simple rim change, all these come into play in the value of the vehicle. One way or another, it would cost you, either by having to accept a lower valuation for your car or having to spend even more to revert the car back to its stock specification.

 

Scratches, Dents, Wear and Tear

Credit: Confused.com

We assume most people wouldn’t dispute this but the obsessiveness to keep a car scratch and dent-free often fizzles out after a couple of years – unless of course, you share a certain tight knit bond with your vehicle. But it matters. Whether you’re trying to sell it privately or through a dealer, these details will be closely scrutinised by potential buyers.

 

Does your car seat look like this? Credit: Fibrenew.com

With every scratch and dent, it gives buyers even more reason to reduce the price by hundreds if not thousands. This applies to the interior too; while a mere chocolate shake spill or a cigarette burn on the seat fabric might seem trivial enough for you to have a laugh over, all these will come back at you during the final valuation. After all, this gives prospective buyers a chance to pick on these flaws to bring the price down.

 

Here are 10 common mistakes people make when selling their car!

 

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