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Want to sell your car for more? Here are 5 key things car buyers look out for before offering you a higher bid for your car.
Category: Car Selling Advice
Some people say that second-hand cars have little value - but that's not true. There will always be demand for used cars (mostly when COE premiums shoot up). Yes, cars depreciate over time, but, you can still make the most of it and sell your car at a higher price.
There are many car selling options out there, but these tips hold steady across all methods:
- The popularity of your car's make and model
- Sellable car colours
- 'Safe' modifications
- Number of car accidents
- Did you buy from an Authorised Distributor or Parallel Importer?
1. The popularity of your car's make and model
Toyota and Honda cars often ranked top on our used car popularity chart (number of cars sold in a year).
Generally, we see many used car dealers snapping up Japanese cars like Toyotas and Hondas because they're more affordable, easier to maintain and service. Furthermore, Japanese cars are popular among Singaporeans. Meaning, they are a lot easier to sell for a more significant profit margin.
But, if you're selling your car by yourself, avoid making these mistakes when selling to a dealer or you might shortchange yourself.
2. Sellable car colours
Unless your car has an iconic colour, stick to the safe and sellable colours like Pearl White, Black or Grey/Silver. According to our Vehicle Inspection team from sgCarMart Quotz, these colours will improve your chances of getting higher offers.
The used car market isn't as receptive to brighter colours. Don't be surprised if you receive a low offer for your used pink/green/yellow car. After all, it depends on whether the buyer can appreciate your aesthetic choices.
Want to sell your car quickly? Here's a guide to getting your car sold in 48 hours.
3. 'Safe' modifications
Back in the 90s, performance modifications were all the rage, and your modifications could increase your car's resale value. However, stock cars are more sellable now.
Dealers are less interested in how much you've 'upgraded' your car, than how much value your car truly holds - they'd rather you uninstall the snazzy sound system and reinstall the stock one.
For modifications, it's best if you stick to the in-house tuning for the various brands. These are the in-house tuning workshops that count when you're selling your car – they add real brand value and potential for higher offers.