5 tips to sell your used car in Singapore at a better price

Some people say that second-hand cars have little value - but that's not true. There will always be demand for used cars (mostly when COE premiums shoot up). Yes, cars depreciate over time, but, you can still make the most of it and sell your car at a higher price.

There are many ways to sell your car in Singapore, but these tips hold steady across all methods:

1. The popularity of your car's make and model
2. Sellable car colours
3. 'Safe' modifications
4. Number of car accidents
5. Did you buy from an Authorised Distributor or Parallel Importer?

1. The popularity of your car's make and model

Toyota, Honda and Volkswagen make up the top three most popular cars with dealers in Singapore

Toyota and Honda cars often ranked top on our used car popularity chart (number of cars sold in a year).

Generally, we see many used car dealers snapping up Japanese cars like Toyotas and Hondas because they're more affordable, easier to maintain and service. Furthermore, Japanese cars are popular among Singaporeans. Meaning, they are a lot easier to sell for a more significant profit margin. 

But, if you're selling your car by yourself, avoid making these mistakes when selling to a dealer or you might shortchange yourself.
 
 
2. Sellable car colours

Cars in Pearl White, Black or Grey are most sellable

Unless your car has an iconic colour, stick to the safe and sellable colours like Pearl White, Black or Grey/Silver. According to our Vehicle Inspection team from Sgcarmart Quotz, these colours will improve your chances of getting higher offers when you put your car up for sale. 

The used car market isn't as receptive to brighter colours. Don't be surprised if you receive a low offer for your used pink/green/yellow car. After all, it depends on whether the buyer can appreciate your aesthetic choices.

Want to sell your car quickly in Singapore? Here's a guide to getting your car sold in 48 hours.
 
 
3. 'Safe' modifications

Dealers prefer cars in stock condition, as they tend to appeal to a wider audience as compared to personalised rides

Back in the 90s, performance modifications were all the rage, and your modifications could increase your car's resale value. However, stock, unmodified cars are much easier to sell these days.

Dealers are less interested in how much you've 'upgraded' your car, than how much value your car truly holds - they'd rather you uninstall the snazzy sound system and reinstall the stock one. 

For modifications, it is best if you stick to the in-house tuning brands. Such modification and option parts can often be sourced from the Authorised Dealer of your car, as these parts are often specially designed for your make of car, with input from the manufacturer, they tend to work well without any potential issues. As such, if your car has been spruced up with these official parts, chances are you would be able to sell your car for a higher price.

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The resale value of your car can be severely affected if it has been involved in a serious accident

Please learn how to avoid getting into an accident and master these safety driving tips because an accident-free car holds more value for buyers (duh).

Accident-free cars reassure the buyer that there's been no damage to the major car components like the chassis and engine.

Minor scratches and bumps won't affect your resale value much, but it would be good to do some paint corrections before listing your car for sale.
 
 
5. Did you buy from an Authorised Distributor or Parallel Importer?

Cars purchased from ADs are favoured by used car dealers because AD cars get brand-specific maintenance and can fetch a better price

While cars from Parallel Importers (PI) are attractive because they're more affordable (PIs obtain these cars from the vehicle production factory directly), cars from Authorised Distributors (AD) are better for resale because they've got specialised maintenance.

AD cars can receive repairs from both reputable AD and third-party workshops, but PI cars won't get the same priority from AD workshops and will mostly end up at third-party workshops. Not all third-party workshops can fix major car problems, especially issues like major electronic faults and repairs requiring brand-specific parts. Hence if your car was bought from an AD, and has always been maintained by the AD workshops, car buyers will feel at ease, and more likely to purchase your car at your asking price.
 
 
Other considerations

Does your car fit the criteria we shared? if so, you have a highly sought-after car

Used car buyers will also factor in the vehicle interior, not just the exterior. Unusual wear and tear in the upholstery is a distinct indication of neglect and can significantly lower your car's value.

Last but not least, if your car's mileage is above the average of 13,000km to 16,000km per year, you might not attract many high bids. Cars with high mileage are prone to having problems and it's off-putting to many. Keeping your car's mileage low will net you a better price when you sell your car.

Sell your car with Quotz

Auctioning your car with Quotz puts it up for 500+ used car dealers to bid on. Not only is it easy and hassle free, but you'll also be able to get a higher price for your car as opposed to selling your car yourself. 
 
Here are some related articles that might interest you

How to fetch a higher price for your used car when selling it to a dealer

How to get dealers to buy your car at a high price

Car Consignment - How it works and other options

Selling your car: Avoid these mistakes when selling to a dealer

Sellers of eight to 10-year old cars can get help from Sgcarmart Quotz

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