10 Factors That Affect the Resale Value of Your Car

1. Vehicle Brand
   The first factor which can have a significant impact on the resale value of the vehicle is the brand of the vehicle. While the rule of the thumb is that a car resale value drops the next moment you leave the dealership, some brands do better than others. Honda, Toyota, Nissan, Subaru, Hyundai and Mazda do great among regular resale cars. Acura, Lexus and Infinity lead luxury cars category when it comes to re-sale. In general, every new vehicle loses about 50% of its value in the first 3-4 years.
2. Mileage
   The fewer the miles your vehicle has driven, the higher the resale value for your car will be. And once your vehicle reaches certain critical mileage level (different for different auto brands) the resale value of your vehicle will significantly drop regardless of what condition or quality the car is. So, don’t be surprised if your “mint condition” car with 250,000+ miles on it doesn’t bring a lot of buyers.
3. Accidents History
   No accidents understandably translate to higher car resale values. Get a CarFax or VinAudit report to prove that your car is clean from any accidents in the past. If you had some accidents – show exactly what they were, so the buyer will know what he is buying.
4. Performance Parts & Aftermarket Accessories
   Avoid making unnecessary customizations and adding fancy gadgets to your vehicle. One of the strong reasons is that it can be costly in purchase and maintenance and not every buyer gets excited about that. Other reason is that some customizations (like oversized car rims or supercharger kits) may negatively affect the vehicle’s powertrain and safety requirements, which will drastically decrease the resale value.
5. Exterior Condition
   It’s not rocket science - the more exterior damage your vehicle has (no matter how small the damage is) – the less a resale value of the vehicle. If you want to get top buck for your vehicle have it professionally washed and get any visible damages repaired. Also remove all bumper- and windshield- stickers to get the vehicle back to its pristine appearance.
6. Interior Condition
   Clean and well-kept vehicles attract more buyers. Period. Get rid of unpleasant odors inside the vehicle, install an air freshener and invest in a fresh set of floor mats. Get the vehicle interior professionally cleaned – you will be surprised to see the difference.
7. Mechanical Condition
   Maintain your vehicle by taking it to a recognized service provider every 6 months. Keep a history of all your regular maintenance/repair records - buyers will see your diligence and the evidence of good care and as a result - will more likely pay a better price.
8. Drivetrains and Seasonal Demand
   The regions, climate and seasons play a very important role in a successful car resale. Some locations have strong preference to automatic transmission, while others would likely prefer the manual ones. It should not come at a full surprise to you that convertible cars usually sell better in places like FL, CA and TX and in the spring / summer time, while automatic four wheel drive vehicles sell better in the winter and in northern/central States (like Alaska, Montana) and Canada (Ontario, Alberta).
9. Paint Color
   How often do we judge a book by its cover? The same is true for cars. Classic car colors (silver, white, metallic or black) always appreciate better than more eccentric colors. This is true because eccentric colors – regardless how cool they look today – might cost a lot down the road. Small dents and chips fixes, cosmetic mini paint patches and other otherwise none-expensive operations on the vehicle shell might become pretty expensive with difficult to find and pricy purchase colors.
10. Fuel Economy
    With gasoline prices sky-rocketing, selection of a fuel-economic vehicle can save you hundreds of $$$ year-by-year. Hybrids and other fuel-efficient vehicles understandably are getting more popular and in more demand.