Finding out what’s lowering your car’s value

Color

Cars with neutral, common colors are more likely to stay popular. Colors like black, white and silver never seem to go out of style. Although you may love that bright orange now, it may be harder to sell in a couple years. If you still want to express yourself through your vehicle, look for some options that still hold their value like premium wheels or an updated interior.

Brand reputation

Things like low maintenance needs and smooth handling help shape a brand’s reputation. Some people may be looking for a specific brand because they have a reputation for needing fewer repairs, which means saving money. A company with recalls or bad press can make resale much harder. If you do have a vehicle that has experienced bad press, make sure to indicate that you have had regular maintenance performed and the vehicle checked for any recalls.

Miles per gallon (MPG)

Depending on the rise and fall of gas prices, MPG can be a very important factor in the value you can get for your car. Most people are already moving toward more fuel-efficient vehicles. When purchasing a vehicle, think about a potential vehicle’s gas mileage, or go for a hybrid. Hybrids are getting more sought after with the growing environmental issues. Your gas-guzzling truck or SUV is not going to be as easy to sell. Things like regular oil changes, changing filers, and keeping your tires inflated will help make sure you are getting the best MPG.   

Mileage

Yes, the age of the car may be important, but potential buyers would most likely choose a little bit older car with less miles. The number of miles you’ve put on your car contributes to the wear and tear on it, both inside and out. It’s not only a great selling point for your used car, but it will probably make it much more attractive to buyers compared to similar cars.

Is it clean?

Let’s be honest – no one wants to buy a gross, dirty or smelly car. Even if it just needs a good wash and detail, would you want to have to take care of that after you buy? When people are looking for a new car, they want to feel like they’re buying a ride that has been well-maintained. Since it will be new to them, help them feel as if it is brand new. Keeping your car clean, or at least having it cleaned when you’re preparing to sell it, shows that you take care of it. A potential buyer will feel that if you take care of it enough to clean it, you probably take the time to have it serviced regularly.

Maintenance

Along with keeping your car clean, having your vehicle regularly serviced will help the resale value. Keep a maintenance log of any maintenance or tune-ups you can show potential buyers. They will be happy to see regular oil changes and tune ups. It may not necessarily lower the depreciation, but it can still make a difference with buyers. Having records of your preventative maintenance will make a buyer more confident with your vehicle, than a similar one without regular maintenance.

Some other fixes to consider include repairing any dents or dings, detailing the inside of the car, and replacing worn tires are cost effective and will quickly improve your car’s resale value. Taking good care of the vehicle you have and being conscious of resale when choosing a new car will help make sure you’ll be able to sell it down the road. Part of taking care of your vehicle is making sure your auto insurance has you properly protected. Reach out to your Farm Bureau agent to make sure you have the coverage you need.​