5 things that can actually lower the value of your car

Damage

Although you may not realize it, damage to the exterior or interior of your vehicle can lower its resale value significantly. For example, a chip in the windshield from a low-hanging branch will be more costly to repair than one caused by someone hitting your car with their car door or another type of accident. By the same token, dirt inside the vehicle or ripped seats aren’t good either.

If you leave your car parked anywhere for an extended period of time, rust can develop on the metal components within weeks. This is especially true in colder climates when road salt is used extensively during the winter months. The extent of damage will depend on how much moisture is present and how long you’ve left your car parked. Either way, rust is not a good thing for resale value and can even lead to the vehicle becoming unsafe to drive.

Mileage

Vehicles that have high mileage will also lower their resale or trade-in values – even if they’re in tip-top condition. For example, a 2-year-old car with 50,000 miles on the odometer will typically sell for less than one having 20,000 or 30,000. Even cars with relatively low mileage will lose their value over time because depreciation is higher when they’re younger. Ask any professional buyer, and they’ll tell you this is why certified pre-owned programs exist.

Emissions

Any vehicle that emits a high level of emissions will generate lower resale values compared to those that meet emission standards set by the federal government and/or the state where they’re registered. Vehicles with higher emissions may be able to run fine, but the number of pollutants they put into the air is not suitable for the environment or people’s health in general.

Engine size

Engines that are too small for the car will result in lower resale values because they’re less powerful. For example, a four-cylinder engine in a car that requires six cylinders to run effectively and at reasonable speeds isn’t going to be as desirable as one with eight cylinders and a more significant displacement. The same can be said for V-6’s in cars that require V-8’s.

Low-quality audio system

A low-quality audio system in your vehicle can be a significant turn off when you’re ready to trade it in or sell it. Obviously, the better the sound quality, the higher the resale value of any car – even if everything else about it is average. If your speakers are blown out, for example, you’ll need to replace them. If you don’t, it just isn’t worth the hassle when you’re ready to sell or trade your vehicle in.

So, as you can see, there are several things that can actually lower the value of your car – even if they’re seemingly unrelated. If you want to sell your car for a reasonable price, you need to keep them all in mind.

Contact us at

Eastern Cash For Cars
720 High St Rd, Glen Waverley, VIC 3150
(03) 7035 7830
www.easterncashforcars.com.au