How to identify a car with high resale value: 4 considerations

If you’re in the market for a new vehicle and are concerned with its future resale price, here are four things you’ll want to pay close attention to.

1. Model
Popular car models are a safe bet. There will always be buyers for Honda Civics, Toyota Corollas, Ford F-150s and other tried-and-true models. Discontinued vehicles, on the other hand, are far less in demand.

2. Color
Unless you’re getting a high-end sports car, you should avoid bright paint colors like red or yellow. Most people prefer black, white, silver or gray cars, and you restrict the pool of interested buyers by choosing an unconventional hue.

3. Features
A car equipped with a navigation system, a backup camera, adaptive cruise control and other modern accessories will be easier to sell than one with only standard features. You can expect these extras to be available in an increasing number of vehicles in the years to come and therefore in ever greater demand among car buyers.

4. Extended warranty
Getting an extended warranty on your new car may pay off. In addition to covering the cost of certain repairs when the manufacturer’s warranty expires, it’s also a selling point for potential buyers, as it makes your car a safer investment. After all, used car buyers tend to worry about purchasing a secondhand vehicle only to discover undisclosed issues down the line. Since car warranties are based on the vehicle identification number (VIN), they’re valid for the full term, regardless of ownership.

Thinking ahead and making smart choices when shopping for a car is important. However, it’s equally crucial that you take proper care of your vehicle after you buy it. Stick to the recommended maintenance schedule, and deal with problems right away, before they get worse. Also, be sure to hold onto all your receipts, as you can use them as proof that you took proper care of your car.