Tips to improve the market value of your car

Last updated on November 25th, 2021
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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That’s why we’ve collected a list of top tips on how to raise the value of your car!

Do plenty of research

Research may sound like a drag, but it’s the very first thing you should do when you decide to sell your car. You might be tempted to turn to the nearest dealership, to skip the nuisance, but hear me out. If you don’t know the current selling price of your vehicle, you won’t know what you’re losing out on. Plus, even though it takes some time, doing some research online is quite easy. You just have to pay attention what people are looking for in a car and get a hint on the condition of other vehicles. Even if you decide to sell your car privately, or to a dealer, you’ll know its value. Read 10 tips when your car doesn't sell.

Get your car checked

If a potential customer takes your car for a test drive, you don’t want to turn him/her away, do you? That’s why you should make sure everything works smoothly, and there are no rattles or rumbles that may jeopardise your deal. According to an official Australian report, 54 percent of all Aussie drivers think of car safety as a priority when purchasing a vehicle. On top of that, no one will want to buy your car if it will only make them spend more money on repairs. By having your vehicle checked, you’ll increase its sale price. In addition, ensure that you have a copy of every receipt.

The details makes the difference

Did you know that official statistics show that each driver takes into consideration the appearance of a car before purchasing it? If you feel you’re up for the task, you should put the time aside to set up your vehicle. For instance, you can start by cleaning it properly. Secondly, don’t let minor problems affect the sale. For this reason, you should take your vehicle for a professional check, and remember to keep the receipt.

Show your reliability

So you’ve had your car checked up, detailed and repaired, and now it’s in excellent condition. You’ve done your homework, and you know the market asking price. What else can you do? The customer has to know that he/she can trust you. On that account, every receipt should be organised neatly. Transparency is the key to building reliability, and this is that one thing that will convince a potential buyer that you’re honest. Also, don’t forget about the insurance claims, and any repairs you have undergone.

Be reasonable

It’s quintessential to be down-to-earth and sensible when you establish a sale price. Do make sure to leave room for negotiations, since every buyer will want to haggle. It’s important to obtain a good price for your investment, but be flexible and consider each option most carefully!

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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.

Approval for car loans is always subject to our lender’s terms, conditions and qualification criteria. Lenders will undertake a credit check in line with responsible lending obligations to help determine whether you’re in a position to take on the loan you’re applying for.

The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.

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