Cleaning your vehicle can add up to £500 to its value, expert reveals top tips

Boosting the value of your car in the UK is an essential strategy for any car owner, especially in today’s dynamic automotive market. This guide not only covers traditional vehicles but also delves into the burgeoning electric vehicle (EV) segment. Dom Shaw, Motoring expert at First Vehicle Leasing tells us how you can add significant value to your car, with approximate financial benefits.

Regular Maintenance: The Key to Value Preservation

For traditional and EVs alike, regular maintenance is paramount. A full service history can hike a car’s resale value by up to 26% for conventional cars, and around 20% for EVs. Ensuring your EV’s battery health is maintained can particularly impact its resale value, as battery health is a primary concern for EV buyers.

Cleanliness is Next to Godliness

Regular cleaning and detailing can preserve the aesthetic and functional aspects of your car. Investing in professional valet services, which cost around £50-£200, can potentially add up to £500 in value.

Upgrades: A Smart Investment

Upgrading tyres or installing high-end tech features can add up to 10% to your car’s value. For EVs, investing in a fast home charging installation can be a huge selling point, potentially adding up to 5% to its resale value.

Documentation: Your Car’s Report Card

Complete paperwork, including the V5C document, MOT certificates, and service records, can maintain or even increase a car’s value by up to 20%. For EVs, documentation proving battery health and range can be particularly valuable.

Smart Repairs for Maximum Impact

Investing in ‘smart’ repairs for small damages can majorly uplift your car’s appearance, potentially adding up to £300 to its value. For EVs, ensuring all electronic components are in top condition is crucial.

Extended Warranty: A Safety Net

An extended warranty, costing from £100 per year, can add a sense of security and reliability to your car, potentially increasing its value by up to 7%.

Fuel Efficiency and Battery Health

For traditional cars, improving fuel efficiency can make your car more attractive, adding up to 3% in value. For EVs, maintaining battery health and demonstrating consistent range can add up to 8% to the car’s resale value.

The Power of a Recent MOT

A recent MOT pass can significantly increase buyer interest in traditional cars, potentially adding up to 5% in value. For EVs, a clean MOT with no advisories on battery or electric components is equally valuable.

Record Keeping: Transparency Sells

Maintaining a thorough record of repairs and upgrades can increase a buyer’s confidence, potentially adding up to 4% to your car’s value.

Market Trends: Know Your Audience

Staying informed about the UK automotive market trends can help you understand which features or models are in demand, allowing you to make strategic decisions that can add up to 10% in value for your car.

In summary, Dom Shaw explains, “whether you own a traditional vehicle or an EV, adding value involves a blend of maintenance, strategic upgrades, and an understanding of the market. By following these steps, you can ensure your vehicle not only retains its worth but also sees a significant increase in value, making it a more profitable asset when it comes time to sell.”

Credit: www.firstvehicleleasing.co.uk