Residual value is one of the most important factors to consider when buying a car and one of the most overlooked writes Geraldine Herbert
While all cars depreciate, some lose much less value than others and there are factors you need to be aware of that affect resale values.
Brand: The brand you buy has a significant impact on the resale value and historically some brands and models simply hold their value better than others.
Paint colour: The most common colours found on Irish roads are silver, black and grey, so it is always safer to stick with one of these in terms of resale value. Sunset Orange Metallic may be easily spotted in the supermarket car park, but it may be a difficult one to sell on.
Technology: In-car technology changes rapidly, so cutting-edge and expensive today may not add anything to the resale value by the time you go to sell it on.
Exterior condition: A regular polish and wax will make a huge difference to your paintwork.
Interior condition: To get the best price, it is vital to make sure that the interior is as spotless as the paintwork on the outside. Clean the seats, vacuum the carpet and polish the dashboard.
Mechanical condition: Service records are always valuable and the more guesswork you can take out of a car’s history, the higher the resale value.
6th December, 2020