There has been one surprising impact from the COVID-19 pandemic – the used car market has exploded. Already, used cars are selling at an almost 40 percent premium, with the boom showing no signs of slowing down.
It’s prompted many Australians to consider selling — particularly if they’re lucky enough to have an extra car that’s not getting much use. But before you do, it’s worth considering the state of your vehicle. Even in a booming market, the impact of scratches and dents on your car could impact how long it takes to make a sale and how much you ultimately get.
So how can scratches and dents devalue your car?
Buyers may be less interested
Even if your car runs well and has low kilometres, putting a car up for sale that is covered with scratches and dents can have a considerable impact on your resale price, by limiting your pool of interested buyers.
Most car buyers will come to inspect the vehicle in person before they put up any money, and surface damage is among the most obvious issues they will spot — even to buyers who aren’t otherwise experts. Many buyers won’t be interested in having to repair a car they’ve just purchased. Having a car in good condition is the easiest way to appeal to a larger group of buyers.
Buyers may assume it’s the tip of the iceberg
Even if the paintwork is an easy fix, many buyers will assume this kind of damage is indicative of the overall quality of the car. They may think the vehicle hasn’t been taken care of, and may have bigger issues down the track.
But worst case? Some buyers who would ordinarily be interested in a car may be turned off altogether if they think the car is in bad condition. It’s just one reason why addressing scratches and dents is critical if you want to get top dollar for your vehicle.
Buyers will factor in their own repair costs
It’s harder to negotiate for the price you want, if your buyer needs to sink even more funds into the car to have it looking good. But that’s the strategy you’re relying on if you put a car up for sale with dents and scratches.
Most buyers aren’t experts in car repairs, and may think the cost of fixing scratches, scrapes, dents and chips is far higher than it is. The end result? You’re far less likely to receive the price you expect if your car has surface damage.
How can I ensure my car sells — for the price I want?
The easiest way to make sure your car sells quickly and for the right price is to get it in the best shape you can, without blowing the bank. To get a clearer idea of the level of damage you have and the cost to fix it, we recommend speaking to professional scratch and bumper repairers.
At Bumpertek, we’ll give you an honest, obligation-free opinion on what scratches and scrapes will give you the best bang for your buck before you sell your car. Our repair service is professional, quality, cost-efficient and — as a mobile service — time efficient. If you want to strike while the iron’s hot and sell your car in Australia’s booming used car market, we recommend you speak with us first — to ultimately secure a sale price that suits you.