Five habits that make your car worth less when you sell it

If there comes a day when you want to sell your car, you would want to get the best price possible for it.

However, many people make a few mistakes that quickly devalue their cars, meaning they will get less money when they sell or trade them in.

Ernest North, co-founder of Naked Insurance says there is a way to preserve the value of your car so that when the time to let go of it comes, you get the best value for money.

He gives five habits that most car owners do to hurt their resale value.

ALSO READ: How much does mileage matter when buying a used car?

Skipping services and maintenance 

He says most people do the simple mistake of skipping services and maintenance.

“Servicing your car each year or taking it in for repairs when you see a warning light on your dashboard may seem expensive.

“But allowing minor issues to turn into big problems is pricier.”

North adds that buyers will be inclined to pay more for a well-maintained vehicle with a full-service history.

He advises owners to stick to authorised dealers and RMI-approved workshops for services and repairs, which will boost a buyer’s confidence in their car. 

He warns that missing services could also invalidate your warranty, meaning you won’t be covered for significant repairs.

It could also impact your insurance claims. If an accident is linked to neglect, such as brake failure, your insurer might refuse to pay your claim because the accident could have been avoided with reasonable care. 

ALSO READ: WeBuyCars’s vehicle assessment reports in the spotlight

Not fixing small dents and scratches

North says most people make the mistake of not fixing minor dents and scratches on their cars, because they usually don’t seem like a big deal.

However, leaving these imperfections unattended can reduce your car’s resale value.

“A minor scratch can lead to rust or corrosion, decreasing the car’s value and increasing repair costs.

“It can also create the impression that you are not looking after your car. Even if it is inconvenient and costly, try to get dents and scratches repaired as soon as they happen”

He advises owners with car insurance to claim for repairs. But before claiming, consider whether the repair cost is higher than your excess and whether the cost justifies risking your no-claims bonus.

If another insured driver caused the damage, your insurer should be able to help you claim against them.

Losing the paperwork

North says documentation is key. Therefore, it is important to keep service records, repair invoices, and the vehicle’s handbook safe, as they can increase a buyer’s confidence.

“It assures the buyer that you’ve taken good care of the car and are transparent about its history.”

ALSO READ: Nine months, and 46 unhappy WeBuyCars customer complaints heard

Adding aftermarket modification

“Many modifications will turn off potential buyers and decrease your car’s resale value.

“This is especially true of aftermarket parts that change your car’s style or performance. If you do modify your car, keep the original parts so you can return it to its factory state when it’s time to sell,” he adds.

Neglecting TLC

He adds that it is important to always look after your car carefully, keeping it clean on the inside and outside to preserve its appearance and value.

“Avoid leaving it exposed to the elements since sun damage, rust, faded or cracked interior finishings, and hail dents can all hurt its value.

“If you can’t park it under cover, invest in a quality car cover for added protection.

“Maximising your car’s resale value doesn’t require magic; it’s about care, maintenance, and a bit of savvy. By breaking these habits, you’ll enjoy a more reliable ride while you own it and ensure you’ll get the best possible price for your car when it’s time to sell.”

NOW READ: Even an old car cannot be bought voetstoots or ‘as is’ from a used car dealer