5 Ways How to Increase Car Resale Value in Canada

Posted : May 14, 2024
cars resale value

From the time you hit the road in your new car, the car worth decreases. The vehicle becomes less worthy with each day passing by. In the coming times, you will find the need to surrender your used car for some resale value.

Depreciation costs you money and there are ways to reduce its effects. You can minimize the depreciation costs by considering models that are top-selling in Canada and have good fuel economy. Keeping servicing records like repairs and maintenance records safe and updated can help in reducing the depreciation costs of your vehicle. Depreciation is unavoidable but can be reduced by maintaining a good condition of your car or the best option would be to buy used cars.

This blog will help with five simple ways to boost your car’s worth and will provide you guidance on how to increase car resale value. 

Put The Brakes On Rust: Rust is nothing but just a cosmetic blush and is expensive. Having a rust-free car will help you increase the resale value of the car. Preventing rust on cars is easy. You can use corrosion-inhibiting treatments from companies for annual treatments. The annual treatment may cost around $150.

Getting a rust treatment will make your car look brand new. You must repeat this treatment every year as it will increase the condition of your vehicle over time. Before getting a treatment done, always consult your dealership for the best results. 

Keep A Check On Regular Maintenance: Each car has a specific set of requirements for conducting regular services, lubrications, and inspections. Regular maintenance includes a change of various fluids like oil changes and car parts replacement for best results while driving. You must look into the owner’s manual for specific details and get your car serviced on time to boost its worth. Make sure not to turn small problems into bigger and more expensive ones.

By not getting regular maintenance done, your car can perform poorly and can become less reliable. Even if you notice a minor issue, get in touch with your car dealership and get it changed. Know about the maintenance schedule of your car and follow it for regular maintenance. 

Get The Inspection Done: A used car shopper will get your vehicle inspected by a professional before purchasing. This will ensure that the overall condition of your car is fine and there are no potential problems that may arise. Getting a Pre-Purchase Inspection done is one of the best ways. Getting an inspection done can be time-consuming but it will make you aware of any potential trouble that can help in price negotiations.

Another reason to get an inspection done can be to reduce the uncertainty of the shopper and make them buy the car quickly. During the inspection process, you can look out for any worn parts, leaks, or damages that can reduce your car’s residual value when discovered by the used car shopper. Make sure to fix all these issues to keep the value of your car higher. Also, make sure to conceal any personal information printed on the form for security reasons. 

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Accessorize: Protecting easily worn parts of your car’s interior and exterior from damage over time can go a long way in fighting off depreciation. If you have a bug-deflector or mud flaps that can add a little styling to any ride, is a good option to protect your vulnerable painted surfaces from scratches and chips. Accessorizing your car can increase the resale value of your car and protect it from damaging some parts of the car.

Another example includes form-fitting floor mats or cargo mats. They can help you protect the carpeted areas from salts and spills and wear and tear from loading and unloading of gear. You can get protective paint coatings or films and even seat covers on your car seats as it adds a layer of protection that helps you get your money back from your used vehicle. 

Maintain Good Records: When you purchase a new car, spend money in a body folder with multiple pockets. You can use it to store your paperwork relating to your car. Another pocket can be used for maintaining records and receipts of all your maintenance services. Just like that, you can keep copies of services, accessories, and treatments opted over time to maintain a record. Keep this folder safe and always update it with any changes. This will help you keep organized and save all your documentation in one place.

Additionally, you can quickly assess the service history of your vehicle when you sell it or trade it. This adds confidence to the shopper’s purchase decision and increases the cars resale value in the process.

How to Check: What is the Resale Value of My Car?

The car resale value in Canada depends on various factors like the condition of your car and how long it has been in use. If you are thinking of selling your car, you must remember to check the make, model, and mileage of your car. This will help you in calculating the price of your car.

However, these factors will help you get the actual price of your car, but to above-mentioned tips can help you increase the resale value effectively. If you follow all these steps and keep your vehicle in good condition, you can expect to sell your car or truck at a good price.

By using online tools and gathering information by consulting professional car dealers, you can gain valuable insights about your car’s worth. By understanding the resale value of your car, you can negotiate easily when selling or trading in your vehicle. It will help in gaining maximum return on your investments.

Whether you are planning to upgrade your new car or shop for used cars, know that the resale value of your car depends on the strategic choices that you make. So, make sure to take your time and check your car’s resale value as it would be helpful in the long run.

Jack Fortin
Auto Finance Expert

Jack Fortin is one the leading car loan and auto finance experts in British Columbia, Canada. He loves to write and share car loan news and updates.

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