If you’re thinking about selling your current vehicle, then depreciation—or how much value your car loses over time—is something that might be on your mind. It begins as soon as you drive your new car off the lot, and it increases as your vehicle suffers inevitable wear and tear.
But there are some modifications that can increase your car’s value and give you the return on your investment to put into a new vehicle or to keep enjoying your car.
How a Car’s Value Is Determined
How is a car’s value determined? Understanding how a potential buyer or dealership will judge the worth of your car is helpful if you’re thinking about making upgrades to your vehicle. Factors like the model of your car, the trim level, mileage, and working condition can influence the decision.
Make and Model
Looking up your car’s make and model can give you an idea of what you can initially expect in a trade-in value before upgrading your vehicle. It can be a smart move before you buy a new car, too. It’ll give you an idea of how the car will depreciate as you own it because some models are more dependable than others. Sites like Edmunds and Kelley Blue Book will give you the information you need.
You might not think you need all the bells and whistles on your new car when you first purchase it, but it might help you in the long run. Higher trim levels retain their value over time thanks to options like transmission and engine types, all-wheel drive upgrades, seat fabric, and navigation. As you go up trim levels, you’ll likely have to spend more money upfront. While this may not fit into your budget, you can also add on modifications later to add value to your car.
Mileage and Age
Mileage is a better factor on depreciation than age because the more you drive your car, the more the value goes down. Drivers use their cars between 10,000 to 15,000 miles a year on average. If you have a car made from a popular manufacturer and don’t have tons of miles racked up on the odometer, you can expect your car to receive a decent trade-in value thanks to its outstanding condition.
What does condition mean for cars? When you have your car assessed, the assessor will classify it as in excellent, good, fair, or poor condition. Excellent condition is hard to attain, with only a tiny margin of used cars falling into this classification. On average, cars fall into either the good or fair categories. This means your car has been well-maintained and only needs a small amount of work. Poor condition, on the other hand, might mean you’re better off selling the vehicle for parts.
What Modifications Will Increase My Car’s Value?
If you’re searching for modifications that can increase your car’s value, there are a few areas you can concentrate on to improve the condition of your vehicle. Doing so can give you a better trade-in assessment and increase your own enjoyment of the car until trade-in day comes. Improving the performance, comfort, and appearance will give you a better bang for your buck. You can upgrade all three areas or concentrate on one.
Upgrade Infotainment System
Upgrading your vehicle’s infotainment system can give your car better value. Newer car models have infotainment systems, but if your vehicle is older, it might not have the latest version. By upgrading, you could add elements like Bluetooth capability, WiFi, and voice-activated technology—elements that dealerships like to see.
Install Leather Seating
Making your car seem more luxurious can be an incentive to a potential buyer, and one strategy is to install leather seats into the cabin. Leather seating communicates that the buyer is not only getting a sophisticated vehicle but also enjoying better comfort during their drives.
Get New Tires
Having new tires can also up your car’s worth. Tires affect a vehicle’s performance and increase the comfort for the driver and passengers. And in the same way that leather seating can make your vehicle seem luxurious, so can new tires and rims.
If you’re going to upgrade your rims, make sure they’re not subpar—if they’re lacking in quality, they’ll depreciate your vehicle. Find rims that fit the look of your car, too. Rims made for sports cars might not be the best option for your heavy-duty pickup.
Add Transparent GPS
Another way to adapt the cabin of your car is by adding transparent GPS for better navigation. This is especially helpful in hazardous situations like night driving, roads with sharp curves, or inclement weather when it could be dangerous to take your eyes off the road. Transparent GPS casts the map from your phone onto a glass that sits on the dashboard, giving the driver the ability to always keep their eyes on the road.
Add a Dual Exhaust
Adding a dual exhaust can positively impact a car’s performance and engine operation; these work well on sports cars. A dual exhaust uses two exhaust pipes to increase the car’s ability to remove engine exhaust, which improves the car’s pickup and speed. You’ll also need other components to cancel out the noise, a manifold, and a catalytic converter to reduce the toxicity of the exhaust.
Add Interior and Exterior Lights
You can upgrade the comfort and appearance of your vehicle by adding interior lights. Exterior lights around the tires might make the car look more attractive, but they don’t do much for resale value. Installing interior lights will make the cabin feel more comfortable and safer by giving the driver more visibility.
Install a Turbocharger
Turbochargers can give a significant boost to not only your car’s performance but also its fuel economy and even its value. The money you invest in installing or upgrading a turbocharger helps your car retain its value when it’s time to trade it in. Even though turbochargers sometimes need maintenance like any other component of your vehicle, you’ll still see overall benefits.
Find a New Turbo for Sale at TurboTurbos
Find a new turbo for sale to upgrade your vehicle at TurboTurbos. Contact us to learn more about the type of turbocharger that would be best suited for your car’s engine.