Six Tips to Maximize the Resale Value of Your Vehicle

1. Save on Taxes

Your vehicle will be of greater value to you if you trade it in when buying a new vehicle. Why? Because it will help you save on the amount of taxes to be paid!

Not only is trading in your vehicle less complicated and quicker than selling it on your own, but it also reduces the amount of taxes you have to pay.

In Quebec, this means that you save hundreds of dollars in taxes simply by trading in your vehicle!

2. Provide Your Vehicle’s Maintenance History Report

One of the first things that buyers look for when purchasing a pre-owned vehicle is its history of maintenance.

As is the case when purchasing a house, the inspection report reveals several things about the vehicle. Did the manufacturer issue a vehicle safety recall? When did the vehicle last have its oil changed? What repairs were made on it? Although it’s impossible to predict the future, the answers to these questions give you an idea of what you can expect in terms of future repairs or, better yet, lack of future repairs. If it’s the latter, you can request a higher price for your vehicle.

Did you have your vehicle serviced regularly according to the manufacturer’s requirements?

Provide a copy of your vehicle’s maintenance or repair bills, even if they were covered under warranty. In doing so, you’ll establish trust with your inspector.

No longer have your bills?

Ask your mechanic for a copy. Every good body shop holds on to the maintenance records of its customer’s vehicles.

3. Mention Any Extended Warranties or Protections

By protecting your vehicle, you protect its future resale value from day one. Don’t forget to mention if you bought any of the following protections:

Extended Warranty:

A trade-in vehicle that still has a warranty on it will have a higher resale value than a vehicle that doesn’t.

According to a study conducted by the Car and Driver magazine, cars that are covered under an extended warranty are generally in better condition than cars that aren’t covered.

Even if your vehicle’s extended warranty has expired, don’t forget to mention that your car used to be protected under one!

Body Work Protection:

A trade-in vehicle with a body and paint that are in good condition has a higher resale value. Such protection also provides value for the future owner of your vehicle. If your vehicle is covered under the following protections, don’t forget to mention it!

• Paint Protection Film: Thanks to this film, the bonnet of your vehicle is protected from scratches. Point it out to your inspector!
• Paint Sealant: If the original appearance of your car has been maintained, don’t forget to mention it!
• Rust Proofing: With or without warranty, this treatment protects your vehicle from rust. Don’t forget to mention it!

4. Mention Any Additional Accessories or Tires

New vehicles all come with the same basic equipment, depending on the model chosen. This is why many people later choose to add on accessories or tires to their vehicle. If you did this, don’t forget to mention it!

Additional Accessories:

Not only have these accessories been useful to you, but they will also be useful for the future owner of your vehicle.

Don’t forget to list all of the accessories you’ve installed on your vehicle, for example:

• A block heater
• Protective mats for the winter
• A rear bumper guard
• A rear spoiler
• Side mouldings
• Alloy wheels
• Etc.

Tires:

If you have a set of extra tires, whether they’re winter or summer tires, chances are their size is different from that of your new car’s.

No matter what season you trade in your vehicle, don’t forget to mention that you have an extra set of tires. Some dealerships easily offer up to $200 for them!

5. Repair Your Vehicle’s Bodywork

If the paint on your vehicle is dull, full of scratches or paint chips, or if the bodywork has bumps here and there, there’s a high chance that it will discourage potential buyers or even the dealership itself from purchasing it.

It is, therefore, important to repair these imperfections before having a dealership evaluate your vehicle. There are many specialists for this type of work, so you don’t have to repaint the entire vehicle yourself. The money invested in making your vehicle presentable is worth it.

Don’t forget your windshields! A crack or splinter on a windshield can reduce the value of your vehicle by up to $1,200. Your car insurance will cover the repair or replacement of your windshield. Be sure to refurbish your windshield before presenting your vehicle for evaluation.

6. Clean Your Vehicle

A clean car is a car that inspires confidence! Even though it seems obvious, make sure your vehicle is as visually appealing as possible. For the inspector, a clean vehicle, both inside and outside, suggests that the mechanical aspects were also well-maintained.

It pays to invest time and money in cleaning your entire vehicle before an inspection. Don’t forget to hang the tree-shaped air freshener on your mirror, because an unpleasant smell inside your vehicle could lose you a few hundred dollars.

Once your vehicle is clean and beautiful, simply stow away your personal belongings. Now, it’s ready for inspection!