As the age old saying goes: you’ve got to speculate to accumulate.
And that’s very much the case when it comes to getting the best price for a car you’re planning to sell.
Dedicating some time and spending around £250 on minor repairs, arranging documentation and giving the vehicle a good clean could see owners reap more than 10 times the financial reward, according to experts at Auto Express.
It says that going to additional effort to make your motor as appealing as possible to dealers and private sellers could save you thousands.
With motor traders typically using vehicle valuation services to determine how much they should pay for cars based on the condition, owners are urged to carry out nine tasks that could take their vehicle from the lowest price to the highest.
Paul Baker, editor at the motoring title, says this could pocket owners up to £2,800 in a higher sale value.
Speculate to accumulate: Spending £250 on these nine different things to improve your car could boost its sale value by up to £2,800, experts suggest
‘Most dealers will judge the value of used cars using an industry wide grading system from a company called CAP,’ Paul explains.
‘The condition is categorised into three main levels.
‘Clean condition should have a full service history and minor wear and tear.
‘The Average level will include multiple small scratches, scuffed alloy wheels and missing keys or manuals.
‘A ‘below’ condition will mean more damage and lots of missing paperwork.’
And the difference between the values is substantial.
For example, a three-year old Ford Puma ST-Line will have a trade value of £11,550 in clean condition, but only £9,200 if judged to be below – that’s a difference of £2,350.
A Kia Sportage of the same age falls £2,700 from £17,400 to £14,700 while a Tesla Model Y drops from £23,050 to £20,250 – that’s a difference of £2,880.
To help owners best prep their cars for sale, Paul has outlined how much each of nine tasks will cost them – but also the estimated financial reward from a higher vehicle resale value.
MODEL | Value – CLEAN | Value – AVERAGE | Value – CLEAN |
---|---|---|---|
Ford Puma 1.0 EcoBoost Hybrid mHEV ST-Line 5dr | £11,550 | £10,350 | £9,200 |
Kia Sportage 1.6T GDi ISG 3 5dr | £17,400 | £16,050 | £14,700 |
Tesla Model Y Long Range AWD 5dr Auto | £23,050 | £21,350 | £20,250 |
Source: CAP values based on a 3-year-old car with 36,000 miles |
A dirty car presented to a private buyer or dealer will suggest it hasn’t been well maintained over its lifetime, so it’s worth investing time and money to present it in its cleanest condition
1. The value of a good clean
Cost to owner: £1-£100
Time: 1 hour
Added car value: +10-20% of the price
‘First impressions count,’ Paul point out. ‘You wouldn’t sell a house without a quick tidy, so do the same with your car.’
He says a dirty car in photos or presented to a dealer for trade-in suggests it has been neglected one.
‘Expect to sell for 10 to 20 per cent less if your car is not looking its best.’
Even if an MOT isn’t due for months, owners could get more for their car if they sell it with 12 months until the certificate lapses
2. Get a new MOT… even if it’s not due for months
Cost to owner: £54
Time: 1 hour
Added car value: +£200
While many car owners will try to avoid having to pay for another MOT, if you’re relatively confident it will pass without issue, it’s worth having a new certificate valid for 12 months to reassure a buyer.
‘For a 10-15-year-old car, a valid MOT holds much of its value,’ Paul says.
‘Of course, there is a risk – if the car fails and it costs a lot to fix then you could be out of pocket, so this will only really add value if you are fairly certain it will pass.’
A fresh MOT can add up to £200 or more to the value of a vehicle, especially older models.
Fixing damage and kerbed wheels will increase the sale value if offering the car privately, but not so much if you’re part-exchanging or selling to a dealer
3. Should you fix kerbed wheels and paint scrapes?
Cost to owner: £50-£120 per wheel
Time: 2 hours
Added car value: +£200
Attempting to sell a car with wheel or paint damage will usually result in the other party haggling down the price to reflect the additional cost it will take to get the motor back to near-perfect condition.
But that rule only really applies when selling privately, and not to dealers.
Car sales businesses typically deal with repairs more often – and usually have a dedicated department or contact who can complete these at a far reduced price – so sellers will likely spend more than they need to on costly cosmetic fixes.
Paul warns that repairs on the cheap is always a bad idea as dealers will likely still knock the price down to put this right, meaning you – the seller – has…
Read More: Do these nine things to your car for £250 to boost its sale value by up to