Which Car Generates the Highest Resale Value

Many people may have experience in changing a new car and selling the old one and felt upset because the car is underpriced, especially when reselling to the secondhand agent. A secondhand car expert said that the agent attempts to buy a used car at the lowest price. However, some car brands with specific colors and series will make a good profit when reselling due to higher market demand. Here are some basic findings to buy a new car and gain high profit when reselling it.

1. Brand

Major Japanese cars which are popular among drivers and with plenty of service centers will have a higher resale value than secondary brands even though some secondary brands gain quite high users with better design and performance (subjective viewpoints). Not to mention European cars as their secondhand price are much less than half price of Japanese cars. For example, if you buy it at 4 million baht, the reselling price may drop to one million baht. Therefore, buying market branding cars will get better value.

2. Color

Car price varies with color. Basic and popular color likes white generates the highest price, following by simple colors like black, silver, and gold. When launching some new series, cars with fancy or unique colors are introduced such as orange, yellow, pink, blue, etc. Anyway, those colors may be outdated after 5-6 years so most people prefer white or other simple colors.

3. Series

Remember not to buy a car that its new series will be launched in the same year; otherwise, your car will be considered an old series. You’d better wait for a new one. Some people may be hesitant as good promotions with special low interest will be offered to the old series. Those people will be even more distressed because their cars may be underpriced when reselling it.

4. Bad reputation

Some car series are popular and cause problems. For example, some cars offer both benzene and diesel power but troubles are found in diesel. Thus, we should avoid buying cars with diesel. We’re probably lucky in using diesel cars but it may be underpriced when we resell it because rumor about diesel has already been spreading.

5. Big car with higher price gains less than small or medium car

The price of a big car even the secondhand one is still high, especially the SUV car which its a new price of about one million baht, will drop to 7 hundred thousand baht for the secondhand. People who can afford that amount of money may buy a new car as its interest is lower than secondhand car’s interest, and there’s no risk in the car conditions.

Those are major factors to consider when you change a new car and need to resell the old one. However, if resale price is not your concern, you can buy your favorite brand. Most of us spend time in the cars for hours a day so driving a good car can make our life on the road more pleasurable.

SCB offers a good rate on a car loan both new and secondhand. For more information, visit https://www.scb.co.th/th/personal-banking/loans/car-loans.html