March 21, 2022
Are you thinking of trading in your car in South Africa? You’ll want to get the best trade-in value for your car, especially during these challenging economic times caused by the pandemic in South Africa. Read on and discover which factors can affect it.1
It’s important first to obtain your car’s current book value as this will indicate the trade-in value. Several factors can influence the final trade-in price.
It all depends on the car make and model you purchased and its popularity. How appealing is it to the current market? This will affect the trade-in value.
The trade-in appeal is if the car has safety features such as airbags and ABS brakes. In addition, it should have the usual features such as automatic locking, automatic transmission, remote start, cruise control, infotainment systems, leather seating, and smash-and-grab protection. White is the most popular car colour as motorists consider it to provide the greatest visibility on the road.
Maintenance is crucial to a car’s overall condition, so a complete service record will be most appealing. Keep receipts of all service activities for the dealership to see. Any remaining time still available on your service plan or warranty will also increase the trade-in value. The lower the mileage, the greater the trade-in value. If your car has exceeded 150 000 km, mechanical problems could be imminent. This, in turn, will lower the trade-in value.
It is best to look after the outward appearance of your car as well. A car appraiser will be negatively influenced by minor dents and scratches and could classify the car as ‘Fair’ or even ‘Poor’.
Smoking, pets, and food stains inside the car can affect the interior’s quality and smell. So, it’s essential to have the car’s interior thoroughly cleaned before the trade-in to eliminate any stains and bad odours. A vital tip is always to treat the car well while you own it to avoid disappointment later with the trade-in value.
Any damage caused by an accident should be professionally repaired before trading the car in. Otherwise, this could negatively impact the car’s value.
Always include the spare key and any other equipment that originally came with the car. Supplying information on alarm systems and immobilisers and a PIN for the audio systems will be most helpful.
Because car insurance is complicated, this article can only serve as information. For the same reason, if you want to buy a car insurance product, first consult a certified financial advisor for professional advice.
The more you look after your car, the more it will pay off at trade-in time. Remember, if you intend to buy a new vehicle after the trade-in, the law requires you to buy comprehensive car insurance if a bank finances your future car purchase. Get affordable, comprehensive car insurance with fixed premiums* and reduce to zero excess* with PMD. Contact PMD for more information. T’s and C’s apply.
May 12, 2022