Safeguarding your vehicle resale value in South Africa is no easy task, due to the volatility of our car market. Nevertheless, keep these five principals top of mind at all times and you could save yourself tens of thousands of rands when it comes time to trade-in or sell your car …
VEHICLE RESALE VALUE IN SOUTH AFRICA
First off, to retain good vehicle resale value in South Africa, you need to buy the ‘right’ car to start with. This means doing your homework ahead of committing to a purchase and not buying some warn and ragged beyond-its-years skorokoro just because it’s cheap. Making good choices will pay off down the line like so …
1. BUY THE ‘RIGHT’ CAR
The popular manufacturers in South Africa are that for a reason. Consider the best-selling models from Toyota, Volkswagen, Suzuki, Ford and even the up-and-coming Chinese brands like Haval and Chery. Then look a little deeper at the demand of that specific vehicle. Which model appears to hold its value best: Automatic versus manual or diesel versus petrol, high-spec or entry level …?
2. DON’T BE TOO FLASHY
Exterior colour and interior options impact vehicle resale value in South Africa. We’re a weirdly conservative market. White, gray and black vehicles are good. Luminous orange and acid green not so much. Likewise, cream and beige interiors might pose a problem when it’s time to sell later on. Black leather and the like are more appealing.
3. MILEAGE IS KING (NOT AGE)
The South African used car market is very high-tech nowadays with real-time AI pricing, et al. The key to the algorithm is mileage. More so than the model year of the car or even condition. So, if you can limit the mileage on your car, you’re protecting its resale value. That is guaranteed! Similarly, when car shopping, that high-mileage car you’ve always coveted might be very tempting. But it could prove a costly error down the line, requiring ongoing maintenance. And it may be worth far less when you do decide to resell it one day.
4. SERVICE BY THE BOOK
It is also important to ensure your vehicle is serviced as per the manufacturer’s stipulated service intervals. The franchised dealer will have the necessary training to keep your pride and joy in good running order. Do not miss these or it will impact your resale value in South Africa badly.
5. KEEP IT TIDY AND UNMODIFIED
Keeping the mileage low and your car neat and tidy is a great way of to safeguard your vehicle resale value in South Africa. It takes time and a bit of pain, but a small scratch can develop into a rust spot in the long term. Also, keep everything standard. Modifying your pride and joy will only negatively impact on the vehicle resale value in South Africa. Body kits and a free-flow exhaust system may be great for you, but the next owner definitely won’t see it that way.
DO YOU HAVE ANY USED-CAR QUERIES?
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