There are two types of assets in the world. The first kind appreciates over a period of time while the other kind depreciates over a period of time. Cars fall under the second category that starts depreciating the moment you turn on the engine for the first time. The rate of depreciation varies depending on the model and the type of car, but it still remains the biggest expense that any car owner has to face. However, certain factors if kept in mind can slow down the rate of depreciation and increase the resale value of the car.
Second hand cars in UAE are always in demand and thus proper care of the car must be taken from the very beginning so that when you are looking at reselling it, you get the best possible price. If you push it till the very end, then it will be difficult for you to sell any car in Dubai or anywhere else for a fair price.
- Proper Maintenance of the Car – cars need periodic maintenance in order to function smoothly. If a small repair is overlooked in the beginning, then it can turn into something big and prove to be expensive. However, regular maintenance will help you spot issues in the early stages and get it rectified without burning a hole in your pocket. Visiting a good mechanic will help in taking preventive measures.
- Maintain your Mileage – the mileage depicts the health of the car and is reflected on the odometer of the car. The more the miles, the faster the depreciation of the car. Experts state that maintaining a mileage of 10,000 miles annually is a healthy state for the car. Anything above that will fall under the negative zone so care regarding this should be taken.
- Maintain Aesthetics – it is important that the car should appeal to a potential buyer and make them want to buy it. This is possible when the car is kept clean from both the inside and the outside. This reflects good maintenance on the part of the owner and makes the car more desirable. A lot of gas stations provide cleaning facilities for the car and it can also be done at home with the right products and a little bit of patience.
- Replace Parts when Necessary – certain parts of the car deteriorate faster than the others because it is used more. One such part is the tires of the car which take the most beating. Due to repeated use they might sustain both functional and cosmetic issues. Periodic cleaning of the tires will help in prolonging their life. And when the time comes, they should be changed if required as this could pose a potential safety hazard.
- Have your Paperwork in Place – there is sufficient amount of paperwork that the car will accumulate over a period of time. Starting with the Registration Certificate of the car which is one of the most important documents required at the time of selling it. Apart from that keeping papers of car insurance, records of periodic maintenance, documents of any settled legal issues and anything else related to the car always helps. They help in avoiding any awkward moments with a potential buyer and put forth a blanket of transparency which makes selling the car easier. It shows that the car is in good shape as it has been taken care of.
The state and health of the car will reflect more on the owner of the car than on the car itself. In order for an individual to buy your car, they should be able to trust you as an owner first. Keeping this in mind, apart from the increased resale value, it is essential to look after your car and know what it is worth. One should do their research and find out what is the average price in the market and the subsequent demand and supply of used cars. There are various dealers in the market who will quote a different price for your car, but approaching a reputed used car selling company like Carswitch will ensure that you get the best deal on your car.