You may have heard the age old saying of ‘Buy Low and Sell High, however it may not be so simple with Cars. Although not impossible it’s not the easiest thing to be able to pick up a a great quality Car that needs absolutely nothing doing to it at all and turning it around quickly for profit,
A better strategy would be to look for a Car that needs some type of simple improvement or reconditioning and once you have completed that for relatively cheap you can then mark the price up and look to make a profit on it.
Check out our article on ‘How to spot a desperate seller’ where we dive in the psychology of why someone would want to sell their car for cheap and how you can benefit from it.
Our other article on how much to pay for a used car talks you through how to correctly determine the value of a used car
Below we will discuss some steps that you can use to quickly and easily increase the resale value of a Car
1. Take Better Photos
Yes, this sounds really simple, however the majority of sellers do not present their vehicle in the correct way which affects the amount of potential buyers they can attract. If a car has poor photos which do not show the car fully then a lot of people will simply skip over this advert and go to one which does look better. We have done this on a number of occasions, simply take better photos of the car from all angles and market it better than the previous seller did, this simple hack can almost instantly increase the resale value of the Car by £500-£1000
2. Create a Detailed Advert
This goes hand in hand with the above point.The majority of the adverts do not contain enough detail for a buyer and are in danger of just being skipped over for the next advert. You need to convince the seller you are bringing the best product to the market. Use the add to display the unique selling points of the vehicle such as it being ‘low mileage’ or a ‘ 1 previous owner car’ etc. We have a template of the exact advert we use to sell cars available in our downloads section, you can check it out here.
3. Deep Clean the Car
When have you last seen a showroom selling a car with mud and grime strewn all across it? Cars that are professionally being sold are immaculate. In order to give the impression that the Cars are well maintained and don’t need nothing doing to them, always present your cars clean and de-cluttered when selling them. You don’t have to do all the manual labour yourself if you don’t want to, simply outsource the task to a local hand car wash who will charge in the region £15-£20 for a basic valet.
4. Fill in Chips in the Paintwork
We recommend a product called Dr Colorchip which is simply the best product we have used in being able to fill in small to medium size stone chips in a Car. No expert knowledge is required and the process is unbelievably simple. All you do is dab in the colour with a small paint brush provided and then simply use the magic solution to wash away all the excess amount of paint leaving a professional looking finish. This small hack can completely restore the look of a car and save you a shed load of as opposed to re-spraying a panel or bonnet.
5. Refurbish Wheels
If your car has clip on caps we recommend just buying a new pair as they are so cheap, however if you have alloy wheels which looked really badly beat up, it may be worth refurbishing them if it makes financial sense. Depending on the type of alloy wheel you have you can be spending in the region of £25-£50 Per wheel (sometimes more for specialist type alloys such as diamond cut wheels). A cost effective alternative is to order a small bottle of touch up paint and paint in the chips yourself, it won’t be perfect but it will probably still look a damn sight better than it was!
6. Pre-Sale Service
A car with a good maintenance record will always be worth more than a car that does not have such records. It’s always better to sell a Car that has just been serviced and the service book is stamped and up to date. This gives the buyer the confidence that key maintenance has taken place and they don’t need to have this worry. You don’t need to be breaking the bank when you come to do this and a simple oil and oil filter change should cost in the region of £50-£80 from a local garage.
7. Get a 12 Month Mot
A strong selling point for a vehicle is having a long MOT remaining, better still a fresh 12 month MOT will increase confidence n the buyer’s mind. In effect what you are saying is that you have just had the vehicle checked over by a qualified mechanic and it has passed the required standard. The new buyer also having 12 months before another test is requires also provides peace of mind and added convenience. Bear in mind that whilst this does add value to the car the potential downside could be that the car could fail the mot meaning you will have to pay for any required repairs in order to get it through the re-test.
8. Polish and Wax your Paintwork
The first thing people notice about your car is the quality of the paintwork, dull grimy and faded paintwork makes the car looked unloved, You can very simply and easily transform this with using products such as a clay bar to remove deep grime from within the paintwork, follow this up with a coat of a cutting agent such as t-cut and finally apply a layer of wax to seal everything in. Alternatively invest in a professional mop police which could cost you in the region of £50-£100
9. Wash and De-grease Your Engine
A cheap way to get your engine bay looking sparking clean and well looked after is to give it a degree and rinse. Use a hosepipe on a low sprinkler setting to wet the engine (take care to cover any over exposed wires and electrics) then use a engine de-greaser to clean away all the grime, dirt and congealed oil from the components in the engine, use a soft bristle brush to clean out any hard to reach areas. Use the hose pipe again on a low setting to wash out the dirt which will leave you with a nice clean engine bay. For added effect you can use a trim finishing spray such as ‘back to black’ to restore the colour of the plastic making it POP!
Simple relatively inexpensive touches can transform your car and make it stand out amongst the competition which means you can now demand more of a premium for it. As we have stated numerous times you really need to aim to bring the best example to the market which gives someone the confidence to purchase it from you.