It’s one thing to buy a new car and another thing to sell one’s used car, so as to get a new/better one. While some cars have good resale value, the resale value for others is very poor. Even though the resale value has the most profound impact on the overall cost of owning and operating a vehicle, only a few shoppers consider the eventual resale value of their chosen vehicle when making a new-car purchase.
Table of Contents
Here are a few tips that determine a car’s resale value;
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Bumper Stickers
Bumper stickers can cause some amount of hurt to a car’s value, If you leave the stickers in place, they reinforce to potential buyers that the car is used, and that can make it hard for buyers to see the car as a blank slate. Carefully take off stickers. It is important to note that even if they come off in one piece without any scrapes or nicks to the car, the paint beneath them may have faded leaving that spot noticeable..
Secondhand Smoke
The freshness and smell of a car can either add or reduce its resale value. Nobody wants to buy a car that smells like an ashtray. So if you’ve been smoking inside your car, prepare to pay for it. While there’s no exact formula for how much less your car will be worth compared to a similar vehicle that hasn’t been smoked in, there is no disputing the diminished value of a smoker’s car.
A Cracked Windshield
Imagine buying a car with cracked windscreen, one would have to consider the cost of getting a new windscreen and all of this will be reviewed on the resale value. These days, you can get a windshield replaced pretty inexpensively. Some shoppers might assume replacing a cracked windshield is out of their budget, so if yours needs to be replaced, get it done before you list your car for sale. Changing the windscreen for newer model cars might cost more. This is due to the fact many new car windshields include fancy features like sensors for rain-sensing wipers and embedded antennas, which will drive up the price.
Color
You probably aren’t surprised to read that color can influence your car’s resale value. What might surprise you, however, is that orange and yellow vehicles depreciate the least. Vehicles with color tend to depreciate the most, followed by silver and beige, although it seems these colors are the most colors found in a car’s dealer showrooms, which suggests that people like these colors on new cars. Other bright colors have varying results. If you’re choosing the color of a new vehicle in hopes of attracting the most buyers in a few years, black, white and gray are always safe bets.
A car’s Mileage
A car’s Mileage tells the distance travelled by the car. This is one factor that affects the resale value of a car. A car with high mileage will have a low resale value compared to one with a low mileage.
Top 10 Vehicles That Hold The Most Value And The 5-year Loss Percentage
| 1 | Jeep Wrangler Unlimited | 30% |
| 2 | Jeep Wrangler | 31.5% |
| 3 | Toyota Tacoma | 32% |
| 4 | Toyota Tundra | 35.9% |
| 5 | Toyota 4Runner | 36.5% |
| 6 | Porsche 911 | 37.2% |
| 7 | Honda Ridgeline | 38.1% |
| 8 | Nissan GT-R | 39.4% |
| 9 | Nissan Frontier | 39.5% |
| 10 | Subaru Impreza WRX | 40% |
Top 10 Vehicles That Lose The Most Value And The 5-year Loss Percentage
| 1 | Maserati Quattroporte | 72.2% |
| 2 | BMW 7-Series | 71.3% |
| 3 | Nissan Leaf | 71% |
| 4 | BMW i3 | 70.9% |
| 5 | BMW 5-Series | 69.2% |
| 6 | Acura RLX | 69.2% |
| 7 | Ford Fusion Energi | 69.1% |
| 8 | BMW 6-Series | 69% |
| 9 | Jaguar XJL | 68.9% |
| 10 | Chevy Volt | 68.1% |
Car resale has a lot to do with residual values. On the best resale list, Toyota and Jeep take the top five spots. Some cars are very difficult to resell in Nigeria because they quickly lose their value.
What are these cars with good and bad resale values in Nigeria? We discover them on this ride.
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