Car resale value is the estimated market worth of a vehicle calculated at the time of selling it. Why is it important? Buyers who are looking at the total cost of vehicle ownership consider it a critical factor when purchasing a car.
What defines this value? It is influenced by vehicle condition, market demand, brand reliability, mileage, and more. Hence, a car that holds its value over time is regarded as a smart long-term investment.
When you understand the car resale value of your vehicle, you reduce your financial loss while selling it in the second-hand market. In fact, you can make an informed decision by buying a car with a lower depreciation rate to begin with.
In this article, we shall explore how car resale value works, what factors affect car resale, ways to calculate used car price, a list of the best resale value cars, ways to maintain your car’s value, and more.
What is Car Resale Value?
For the sake of simplicity, please note that car resale value is the estimated price a car can fetch when it is sold or traded in after being used for a period of time. This automobile resale value is determined by various factors, including vehicle age and condition, mileage, service history, market demand, brand perception, and reliability.
Why Should I Know About My Car’s Resale Value? You must learn about your car resale value so that you can confidently negotiate a great deal for yourself while selling it. In case you wish to lease your car for income purposes, this value influences monthly payments.
When you know which car will offer a better return on investment, you’ll be able to smartly sell or upgrade your car within a few years.
Factors Affecting Car Resale Value
Whether you are buying a used car or selling your car, there are certain factors you must be aware of that define its value. We have discussed these factors below so that you can make an informed decision about buying or selling your car:
- Mileage: When a car has higher mileage, meaning it has been used a lot, the possibility of wear and tear increases, which further reduces the car resale value.
- Vehicle Condition: If something looks good to the eyes, it is valued more. Hence, the presence of dents, scratches, or rust on the exterior of the car can decrease its value. Also, the interior featuring stains, tears, or odours reduces its appeal.
- Accident History: When a car has an accident history, there is a high possibility that it has undergone major repairs, which diminishes its value.
- Make and Model: Certain brands and models have better credibility in the market for being reliable and popular, which helps them retain more value.
- Color: Depending on demand, some common colours like black, white, and silver are generally more desirable among second-hand car buyers.
- Market Demand: Last but not least, the most important factor of all: market demand. The popularity of a specific vehicle type in the used car market heavily influences its car resale valuation.
How to Calculate Used Car Price
Do you wish to calculate used car price? If so, here are some simple steps you can follow to find a fair price for your car:
- Go to the Spinny car valuation page.
- Either use the car registration number or brand name to get started.
- When choosing the brand name, select the manufacturing year of your car.
- Select the model of your car.
- Select the variant of your car. Start by picking the fuel type: Petrol, Diesel, CNG, or EV.
- Select the transmission type: Automatic or Manual for petrol and diesel; inside or outside fitted tank type for CNG.
- Select the ownership history of your car.
- Select the kilometers driven by your car.
- Select the duration when you want to sell your car.
- Enter your mobile phone number.
- Verify the number with the help of an OTP.
- Voila! You will have the resale range of your car on your screen through the car resale estimate calculator.
9 Top Cars with Good Resale Value
Are you buying a new car and wondering about its car resale value? If so, go through this list of popular cars in the market known for having a high resale value:
- Car Type: Compact Sedan
- Bootspace: 378 litres
- No of Seats: 5
- Resale Value Percentage: 68%
- Hyundai i20
- Car Type: Premium Hatchback
- Bootspace: 311 litres
- No of Seats: 5
- Resale Value Percentage: 65% (approx. after 4 years)
- Maruti Suzuki Swift
- Car Type: Hatchback
- Bootspace: 268 litres
- No of Seats: 5
- Resale Value Percentage: 74% (after 2 years)
- Maruti Suzuki Alto
- Car Type: Hatchback
- Bootspace: 177 litres
- No of Seats: 5
- Resale Value Percentage: 60% (after 4 years)
- Toyota Innova Crysta
- Car Type: MUV (Multi-Utility Vehicle)
- Bootspace: 300 litres (expandable with folded seats)
- No of Seats: 7 or 8 (depending on variant)
- Resale Value Percentage: 90% (after 1 year)
- Toyota Fortuner
- Car Type: SUV
- Bootspace: 296 litres
- No of Seats: 7
- Resale Value Percentage: 55–60% (after 4 years)
- Maruti Wagon R
- Car Type: Hatchback
- Bootspace: 341 litres
- No of Seats: 5
- Resale Value Percentage: 75% (after 3 years)
- Honda City
- Car Type: Sedan
- Bootspace: 506 litres
- No of Seats: 5
- Resale Value Percentage: 75% (after 3 years)
- Car Type: Compact SUV
- Bootspace: 433 litres
- No of Seats: 5
- Resale Value Percentage: 85% (after 3 years)
Tips to Maintain and Improve Your Car’s Resale Value
Maintenance is the key to getting a great vehicle resale value calculator score. When you maintain your car properly, it remains in good condition longer, making it a worthwhile purchase in the true value second hand cars market. If you’re unsure how to maintain it properly, here are some pointers:
- Regular Maintenance
Irrespective of the usage of a car, it requires regular maintenance to keep its parts in proper working condition. It is always advisable to adhere to scheduled servicing to ensure optimal performance, especially if you’re aiming to retain a high car resale value over time.
- Keeping Detailed Service Records
When evaluating your car resale value, potential buyers will be interested in the vehicle’s service history. Maintaining your car professionally and keeping a detailed, documented record of all services and repairs can significantly boost its resale appeal and improve the score on a resale car price calculator.
- Avoiding Modifications
We understand that you may be inclined toward getting your car customized, but you must know that it can negatively affect the car resale value. It is highly recommended to keep your vehicle as close to the factory specifications as possible to get an accurate and favorable quote on any resale car price calculator.
- Protecting the Exterior and Interior
Now that you have maintained your car properly, it also needs to look great. Regular cleaning and the use of protective measures like waxing and seat covers will help protect the exterior and interior—both of which contribute to a better car resale value when evaluated by a buyer or on a resale car price calculator.
Conclusion
In this article, we understood what car resale value is and the factors that affect its price during the sale. You also learned how to calculate my car resale value using the car resale value calculator tools available on Spinny. We’ve listed the cars with good resale value, in case you’re considering buying one. And finally, we’ve shared tips on how to increase car resale value over time.
If you’re looking to sell your car and wondering where you can get the best price, look no further- Spinny used car valuation is here to help. Not only does Spinny offer fair pricing, but it also ensures a smooth and secure experience.
Buy or sell at Spinny with confidence!
Frequently Asked Questions (FAQs)
Q: How can I calculate my car’s resale value?
A: You can calculate your car’s resale value by uploading its details on Spinny’s car valuation tool. Read the complete article for a step-by-step guide.
Q: Do certain car colors have better resale value?
A: Yes, neutral colors like black, white, and silver are generally more desirable and may enhance car resale value.
Q: How does mileage affect automobile resale value?
A: Higher mileage generally means more wear and tear, which reduces automobile resale value.
Q: Are electric vehicles subject to different resale value considerations?
A: Yes, factors like battery life and rapidly evolving tech influence the car resale valuation.
Q: What are the best resale value cars in India?
A: Models like Maruti Suzuki Swift Dzire, Hyundai i20, and Toyota Innova Crysta are known as top resale value cars or cars with great resale value.
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