Ultimate Guide: How to Increase Car Resale Value

One tough pill to swallow when buying a car is that it’s a depreciating asset, meaning no matter what you do, it’s going to decrease in value over time. Unless you’re driving some kinda restored classic hot rod straight off the showroom floor, there’s really no way around it.

Fret not, though, because there are many steps you can take to preserve your car’s value, so that when the time comes to trade it in, you can be sure to get the absolute best value out of your beloved ride. Here’s an exhaustive list of ways, both big and small, that you can maintain the book value of your car, as well as some ways to get the most bang for your buck while you drive it.

When You Go to Buy…

Of course, the first step toward owning a car is purchasing the thing. What many folks don’t realize is that a certain percentage of their future car valuation is already determined before they even drive it off the lot. (Here’s how you can find out what your car’s worth.)

Know Which Cars Hold Their Value

Different makes and models are known for different things. Bentley, for instance, is known for delivering endlessly customizable luxury cars with bespoke qualities.

By this token, certain brands are marked by their superior ability to retain value. If you’re looking to buy one of the best resale value car brands, researching automakers with a solid track record is a great place to start. Brands like Hyundai and Genesis, for instance, won awards from Kelley Blue Book on their 2023 list of cars with the best resale value. J.D. Power and Associates is another great resource for determining long term car value (did you know that the BMW 2 Series won #1 in best resale value for small premium cars this year?)

Keep Optional Features in Mind

Generally speaking, the more money you spend up front on optional features, the more you’ll be able to trade for down the road. Premium amenities like sunroofs, leather upholstery, larger display screens, and more will make the car more desirable to other consumers.

That said, you should have a good idea of which features you can or can’t live without when the time comes to buy. A premium 16-speaker Harmon/Kardon sound system will surely bring in more cash when you go to trade in, but if you’re only listening to NPR, it might be worth it to splurge elsewhere.

Choose Popular Colors for Exterior and Interior

We’re all for self-expression here, but let’s face it: not everyone wants to rock around in a purple SUV.

The most popular car color in America for 2021 was white—nearly a quarter of new cars sold were this color. Black took second place at around 20%, followed by gray at 19%, and silver at about 13%. If you’re keeping track at home, that means those four colors account for over 75% of all new cars sold that year. If you don’t opt for one of those colors, your car depreciation may be very high.

Data doesn’t really tell us why these colors go gangbusters, but one major reason could be that neutral-colored cars are simply seen as more professional. White in particular has the benefit of reflecting sunlight, which helps to regulate the temperature inside the vehicle, thus reducing the cost of running the A/C on high all the time. Certain colors, like silver, also so a better job of hiding dust and pollen that can gather on the exterior.

Opt for Automatic

A survey from Cadillac conducted a few years ago concluded that 66% of Americans know how to drive stick. However, according to other reports, that number is as low as 18%. That’s quite a gap.

The real figure likely lies somewhere in the middle, but what can’t be argued is the selling trends: no more than 3% of vehicles sold were manual, with some recent sources putting the figure down as a measly 1%. It looks like Americans just don’t like the old fashioned four on the floor anymore, so while a car with a manual gearbox may have a cheaper price tag, you may have a hard time getting rid of it.

Buying All-Wheel Drive Can Help

Another up-front cost that can pay dividends is buying an all-wheel drive or four-wheel drive vehicle, as opposed to front-wheel or rear-wheel drive. This is because AWD cars are generally safer and more versatile than their 2WD counterparts, especially if you live in a part of the world where snow is an issue. So, despite being slightly less fuel efficient, AWD cars are usually more highly sought after.

Research Vehicle History

This one probably seems obvious to most of you, but it bears repeating: when finding a used car’s value at a dealer, always ask for a vehicle history report. This is extremely important, because even if the car was professionally repaired, even a minor fender bender will permanently reduce the vehicle’s value, compared to an identical model that was never wrecked.

Practicing Good Car Ownership…

One of the most important factors in maintaining a var’s trade in value is simply the day-to-day responsibilities of owning a vehicle. Take care of your car, and it’ll take care of you, as they say.

Drive it Regularly

There is almost nothing worse for a car than letting it sit idle for weeks or months. Dealerships have even coined a term for this condition: lot rot.

Sitting still for even 30 days at a time can start to lead to deleterious effects on the vehicle. Fuel starts to go bad after about a month or so. After two or three months, the battery can go dead. Tires will form flat spots on the tread, and once this happens, they will need to be replaced. Rubber components like belts and hoses will warp and crack with disuse. And, of course, rust can set in. All of this can begin a cascade effect of problems down the line.

If you do need to let your ride sit for an extended period of time, take measure like adding fuel stabilizer, and parking it on blocks in a place away from pests and inclement weather.

Wash it Often

Take the time to hand wash your car at least a couple times a month in order to prevent dust and grime from collecting on the exterior, which will eventually dull or damage the paint. As a bonus, you can wax and clear coat the vehicle to further protect the vehicle’s exterior.

And, yes, we did say hand wash, if it’s an option. Drive through car washes may be convenient, and can get the job done in a pinch, but they’re simply not as thorough, and they can even damage the car’s exterior if they haven’t been properly maintained.

Don’t Let Messes Stay on the Paint

Bird poo on your car? Neighborhood kids egg your ride? Park under an oak tree that’s dropping those annoying whirlybird things? These are things you should address as soon as possible. Certain messes like these can eat through automotive paint in a matter of days.

Keep the Interior Clean

This is an obvious basic rule, and we’ll go into more detail on interior hygiene in a minute. It’s easy to let filth and detritus collect in the corners of your vehicle, so make an effort to do a thorough cleansing and vacuuming at least once a month.

Be sure not to use household products like you would use to clean, say, your kitchen or bathroom. Products like Armor All cleaning wipes are designed for your car’s insides, and while they may seem a bit pricey, one supply lasts a long time.

Have Your Vehicle Detailed

If you do let your car go for a few months and find the mess to be a bit overwhelming, consider giving your car a spa day and bring it in somewhere to have it detailed. A professional deep cleaning can bring your car back to the condition it was in the day you bought it, or at least come close.

Protect it From the Weather

When out and about, do anything you can to shield your car from the elements. Excessive sun, briny sea air, road salt during the snowy season—all of these things can wreak havoc on the paint and undercarriage. Park in the shade when possible, or better yet, try to use parking garages if you live in a city.

Read our article about car windshield shades to see if they’re right for you.

Park it in a Garage

While a fully enclosed garage may not be an option for everyone out there, any sort of covered space, like a carport or awning, will do wonders to protect from the elements, especially sun. Intense UV rays are the number one cause of faded automotive paint.

Stay on Top of Scheduled Maintenance

If you only take a few key points away from this list, make sure this is one of them.

You may hear your mechanic mention something along the lines of getting a “tune up.” This is just a catchall term for any maintenance that should be performed on your vehicle at regular intervals to make sure everything is running smoothly. How often you will need to have said maintenance done will depend on a few factors, like driving conditions where you live, the quality of parts and fluids used, and the make of the vehicle itself. When in doubt, consult your owner’s manual.

Key routine maintenance procedures include oil changes, tire rotations and changes, checking fluid levels, changing the air filter, head and taillight bulb replacement, and spark plugs. Schedule a service appointment online at Braman BMW.

Keep ALL Maintenance Records

No matter how inconsequential a routine job may seem, it’s good practice to keep all records and receipts organized and filed away by date of service.

Not only does this make it easier for you to keep track of your vehicle’s service history, but it has the profound benefit of proving to future buyers that you’ve done a good job keeping your car in shape. This concrete track record will help you to negotiate a higher vehicle appraisal when trading your car or selling it.

Maintain Your Tires

As your car’s main point of contact on the road, your tires are quite literally doing a lot of heavy lifting. Therefore, it’s crucial that you keep your tires properly inflated at all times.

When poorly inflated, tires tend to wear out a lot faster, and they also wear out unevenly. This can lead to a noticeable decrease in gas mileage and braking performance, and it can even heighten the risk of a blowout if the sidewalls become too spongy. This, in turn, can cause a multitude of other issues, including a wreck.

Are you a good candidate for run-flat tires?

Basic Car Hygiene…

Simple wear and tear plays a huge factor on a vehicle’s Kelley Blue Book value. As of 2020, only 3% of used cars earned the highest ranking of “Excellent” condition, meaning the lion’s share of cars sold or traded in didn’t rake in nearly as much dough as they could’ve if they were just taken care of a little better.

Don’t Eat in the Car if You Can Help it

This ties into the point we made earlier about keeping the interior clean. In our age of abundant fast food, the temptation to have a little road snack is always there, but crumbs and globs of sauce can be a nightmare to clean out once they’ve settled into the upholstery.

This can be especially tricky for those of you other there with young kids, who are famously bad at not eating when they’re hungry. If you’ve got a toddler in the back seat screaming for animal crackers, good luck telling them to wait ‘til you get home. In this case, a good solution is to try to find healthy snacks that aren’t quite as messy; avoid anything flaky or mushy (we know, those are all the best foods.)

Another small investment you can make is to buy a trash receptacle to dispose of wrappers, fruit peels, and other things that might otherwise just get tossed on the floorboard.

Don’t Smoke in the Car

If you’re a smoker and you frequently spark up inside the car, you should know that, past a certain point, it’s very difficult to get the smell completely out. Even if you don’t notice it, there’s a good chance that nonsmokers do.

The CDC estimates that only about 12.5% of US adults smoke with any regularity, and considering that tobacco smell is a dealbreaker for most people who don’t smoke, those aren’t good odds for selling. Dealerships will also undercut the value big time if they catch a whiff of smoke coming from the cab. If you want to get the best value for your car, it’s best to leave the squares at home.

To put it simply, almost nothing will reduce your car’s value more than cigarette smoke smell. Don’t smoke in your vehicle!

No Pets Allowed

The front page of Google is rife with sites that claim to have “easy ways to remove pet hair.” We haven’t tried them all, so maybe they have something there, but in our experience, removing dog and cat hair from your car is one of the most difficult tasks in auto detailing. So, as much as we love our furry friends, unless they’ve been properly deshedded, it might be best to leave them at home.

Use Seat Covers

However, sometimes you’ve just gotta take ole pooch on the road. If that’s the case, buying a set of seat covers can be an absolute godsend, especially if your furry friend is a breed that’s prone to heavy shedding.

Many auto manufacturers make their own interior accessories that are tailor made to fit specific models, so contact your local dealer’s accessories department to find the absolute best fit.

Buck Up for Some Floor Mats

Floor mats tend to be one of the first things that wear out in a vehicle, which makes sense, considering they spend their lives getting stomped and trampled. The purpose of the floor mat is mainly to protect the carpeting underneath, which is much more expensive to replace or repair.

Once again, an OEM accessory from your local dealer is usually your best bet. Franchised dealers often run parts and accessories specials, which will save you a boatload of money on some more robust floor mats that will last a lot longer and protect your carpet.

Driving Habits…

Cars are meant to be driven, but not everyone drives them the same. If you ride your car hard and hang it up wet day in and day out, it’s going to reflect in the used car value.

The Fewer Miles, the Better

The Department of Transportation reports that in 2022, the demographic that put the most miles on their cars was males aged 35 to 54, coming in at just under 19,000 miles per year. This means that over a 5-year span, they will be on track to put almost 100,000 miles on their cars.

To put that in perspective: we used Kelley Blue Book’s car value calculator to asses the trade-in value of two 2022 BMW 3 Series. Both had all the same options and were assigned the exact same condition. The only difference is that one had under 10,000 miles, and one had 100,000.

• The one with under 10,000 came back with an average trade value of $37,307.
• The one with 100,000 miles returned an average trade-in of $20,807.

This is obviously a dramatic example, but you see the point: mileage matters a whole lot more than age when it comes to assessing vehicle depreciation. Per the DOT’s site, the overall national average miles driven is about 13,000 to 14,000 miles.

Do everything you can to lessen the miles driven. Carpooling, sharing with a spouse or roommate, or using public transportation when possible are just a couple things you can do to preserve your car’s overall resale value immensely.

Highway Miles vs City Miles

It’s a common misconception that driving on the highway is harder on your vehicle. Some drivers assume that just because you’re going faster, the car is working harder. This is true in some ways, but in fact, the opposite is true: city driving is tougher on a car than driving on the open road.

Have you ever wondered why most cars get better mileage on the highway than in the city? It’s because the vehicle is able to travel a consistent speed, sometimes for hundreds of miles in a single stretch. In the city, the constant stop and go of traffic forces you to brake and accelerate over and over again, which is a much more inefficient use of fuel. It can also be a bit harder on the transmission, because the car is forced to run up and down through the gears multiple times just to get across town.

Don’t Drive Recklessly

Another obvious one, but it always bears repeating. The reasons are obvious, so we won’t belabor the point too much: reckless drivers put themselves at more risk for crashes and fender benders, as well as the potential for tickets, which can lead to higher insurance premiums.

Use ADAS Features

Cars are getting smarter and smarter every year. ADAS (Advanced Driver Assistance System) features use a series of external sensors and cameras to enhance safety on the road. While these features are no replacement for attentive driving, you can think of them as an extra layer of protection in both city and highway driving scenarios.

Common innovations include advanced cruise control that automatically monitors the distance between you and the car ahead, lane sensors that provide corrective steering if you drift too far, traffic sign recognition, parking assistance technology, emergency braking assist, and more. More and more of these options are becoming standard in most models.

When You Need Repairs…

From minor bumps and scratches, to computer component failures, eventually, we all end up at the service center at some point. How you handle those situations plays a key role in your car’s depreciation.

Fix Minor Problems as They Appear

After your car’s gotten a bit of age on it, certain minor problems can become easy to just deal with, or ignore outright.

• “Gas gauge doesn’t work quite right? That’s fine, just set the trip meter and fill up every 250 miles or so.”
• “Touch screen is getting a little glitchy? Whatever, I like to use the knobs anyways.”
• “Gas cap cover doesn’t flip open properly? That’s why I carry this flathead screwdriver. Just jam ‘er in there and pry it open.”

And so on. The problem with this is that when you go to trade in, you have two equally unappealing options: spend a bunch of time and cash chasing down a ton of little annoyances all at once, or take a massive hit on the car’s value. Save yourself the headache, and fix the little issues as they pop up.

Keep These Service Records, Too

As with routine maintenance records, you should also keep any invoices and receipts from any repairs you make to the car. Having them proves that you were a diligent owner, and shows that the car’s been kept in good working condition from top to bottom. (Pro tip: file these separately from scheduled maintenance records.)

Keep Up on Recalls

Every once in a great while, you may get a letter in the mail from the car’s manufacturer about a recall. Basically, this is the automaker owning up to unknowingly providing a faulty product. According to the NHTSA, common recall notices involve electrical components, or safety equipment like seatbelts and airbags.

The good news is that you can bring the vehicle to a certified service center, and the issue will almost always be fixed quickly and free of charge.

Use OEM Parts

OEM (Original Equipment Manufacturer) parts are always recommended for any repairs or modifications, because these parts were designed specifically with your exact make and model in mind, so there’s no muss or fuss about whether or not it’ll be compatible. The local certified parts department near you may also be running a special on the component you need, which can save you gobs of money. View our BMW parts coupons to see what deals we have available.

Take it to a Certified Service Center

The main benefit of scheduling service at a certified department is that the mechanics and technicians there are trained to work on your vehicle specifically. A tech at our BMW service center deals with the quirks and special characteristics of BMW cars all day every day, so they’re uniquely qualified to fix any issues in a way that an independent mechanic may not be.

Consider a Diminished Value Claim

As we mentioned above, if you get into a collision, it will probably lessen the car’s overall value, even if it’s fixed professionally. Unfortunately, one the accident has been reported by the DMV/BMV or your insurance company, there’s really no way around it.

There is recourse, though: you can file a diminished value claim with your insurance company.

Basically, this works by having the car appraised after repairs have been completed. Then, you file a claim, and with a little luck, you may be able to recoup some or all of the difference between your vehicle’s value before and after the wreck. This type of claim my require some legwork on your part, but it can be well worth it in the end, particularly if you were found not at fault for the collision in the first place.

To Trick Out, or Not to Trick Out…

Sometimes, we want to add a little extra flair to our ride, but there’s a fine line between adding a feature that’ll add a few hundred bucks to the car appraisal, and a hack job that can make your car borderline unsellable.

Don’t Modify Your Car Excessively

Certain breeds of car owner live to modify their vehicles. Oftentimes, these mods are made with aftermarket parts.

While there are indeed some instances where some light aftermarket upgrading can increase value, the majority of the time, they have a negative impact. This can be due to a number of factors, including poorly manufactured parts or shoddy installation. One of the biggest reasons for the drop in value, though, is the fact that vehicle modifications tend to turn the vehicle into a niche model. The car is customized to fit the current owner’s tastes, which lessens the widespread appeal.

If You Do Modify, Be Selective

Certain modifications and accessories can up the resale value of your car, but only if they’re done professionally. Swapping out the wheels, for instance, can increase the car’s value, but it can also backfire on you if you pick some super niche Blade Runner-looking rims that nobody but you wants.

When in doubt, consult your local service center, and they can help you source OEM parts.

When the Time Comes to Get a New Car…

Nothing lasts forever, especially cars. You’ll eventually have to part ways with your vehicle. Luckily, there are plenty of ways you can maximize your profits.

Trade Instead of Sell

While it’s true that you can potentially collect more money if you sell your car privately, It can be an enormous headache.

The first thing to think about is your time investment: using online resources like Facebook Marketplace or Craigslist to sell a car can take weeks, or even months to find a serious buyer who is willing to pay something close to your original asking price. Then, you have to show the car, at which point the buyer will probably want to take a test drive. Then, if they’re smart, they’ll want to have it inspected by their own mechanic. Then, assuming they’re happy enough, you’ll have to deal with transferring the title paperwork.

Trading in at a dealership, on the other hand, is pretty much as easy as turning the keys over. You can then use your trade-in’s value as a solid down payment on a new car. You can also receive a significant break on sales tax, which can offset the fact that you’re making less money up front.

Click here to value your vehicle trade-in.

Trade at the Right Time

The “right time” to trade or sell largely depends on the vehicle. If you’re driving a convertible, you may not want to try to sell it in December. If you’re driving a gas guzzling truck, selling when fuel prices are high is a no-go.

If you have a newer model, it’s always a good idea to get in there before a new model year debuts. This typically happens sometime in the fall, so early summer is a great time.

It’s also a good idea to trade up before your current vehicle hits certain milestones. If you bought the car new, selling before the warranty expires can net you some extra cash. It’s also a good idea to sell before certain psychological benchmarks, like when the odometer rolls over 100,000 miles.

Sell When You Want To, Not When You Need To

Selling or trading down because you’re strapped for cash and need a quick buck puts you at a steep disadvantage when the time comes to negotiate. Ideally, you want to be ready to let go of the old ride, so that you have some room to haggle.

That’s How to Increase the Resale Value of your Car!

Seems easy enough, right?

Are you looking to get the most value out of your used BMW? Braman BMW in Miami has plenty of new vehicle specials for you to make the most of your trade-in. Give us a call at (786) 374-2132 to talk with someone on our staff for a trade quote today.