We all know that your car is a depreciating asset. But however, the good news is that there are many ways to maximise its resale value.
Maintaining the car in a good shape internally and externally will definitely increase the car’s worth. Here are some things you can do to sell your car at a higher price in Singapore.
Get your PARF and COE rebates
The Preferential Additional Registration Fee (PARF) and Certificate of Entitlement (COE) rebates are how the Land Transport Authority show thanks when you deregister your car and reduce congestion. The PARF rebate is only eligible for cars that are less than 10 years old and none laid-up vehicles.
For COE rebates, if you deregister the vehicle before the COE expires, you may be granted rebates based on the amount you paid for the Quota Premium (QP), or the Prevailing Quota Premium (PQP) in any case of a renewed COE.
If you wish to calculate your PARF or COE rebates, please head to the one motoring website at https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/rebates/parf-coe-rebate.html
Keep the inside and outside sparkling clean
Avoid eating and drinking inside the car, with all the remnant, you will only leave your car infested with cockroaches and what not. Besides that, don’t smoke inside the car! The smell can ruin the car’s interior by forever infesting its toxic scent.
Wash the exterior regularly to get rid of bird shit as well as water stains on your car. If you wish you can also wash your car without water.
Source: Popular Mechanics
Put back all original specifications
Your potential car buyer might not see the beauty in your fancy modifications. Instead, remove your modifications and put back their original specifications, especially those modifications that do not comply with the LTA guidelines.
If you have intentions to sell your car, keep the mileage low. Unless your vehicle is used for private hire, the average mileage should range from about 13,000km to 15,000km per year. Maintain your mileage in that range or even lower to sell your car at a higher price.
Bring your car to the workshop
Don’t give potential buyers any reason to lower your car’s price. Head over to a reliable workshop for a full check and replace or fix anything that is worn out. Things such as your brake pads, air filters or engine headlight might deteriorate over time, especially when you don’t go for regular car checks and servicing. Most of these parts are affordable to replace and will raise your asking price by a few thousand.
Keep everything that came with the car
Remember to save keep all the equipment and parts including the spare keys, spare wheels or shelves that you removed.
If the equipment is bought somewhere else, try to sell it to earn extra money!