It's not even a consideration.

Treat cars like a sunk cost, not investments. If you can only afford the car because you can sell it for a decent amount after a few years which makes your monthly cost of ownership go down, you can't afford it.

In reality it’s not even on my radar since I keep cars till their almost dead but it’s a good indicator of long term quality.

Bottom of my list. I buy Toyotas and keep them a long time.

#7, not that important

Resale value is usually not random. It’s an indication of either how much the car was discounted new or that the car has terrible reliability as it ages or known problems that happen outside of the warranty window (Hyundai/Kai engines, electrical issues in luxury cars, Nisssan CVTs, etc). If it’s the first reason I don’t care, I do care about the second one.

Expensive repairs, like Maserati 

A dealership I worked for did not want to take any trades that were smoked in.

People's perception.

Driving off the sales lot…..

Accidents.

It’s pretty much an algorithm, but I can say Carvana is typically higher than the others. But when you see an offer jump on it. I think you can use a new email and get a different offer as well? I ran one for my GF last month, she also ran one, mine was $1000 more and we ran them the same time. The last car I sold them was 5k more than everybody else so I jumped on it.

My tacoma 2020 tacoma they offered me 15k in Jan. This month theyre offering me 21k. Its getting picked up tomorrow

Try doing it from a different account or with a cleared cache. I did this once not realizing I was logged into an old account and both offers were different. Worth a shot :)

Try again in a few days. Sometimes it’ll spit out something different/better.

I still get email quotes for my car I got a quote on from Carvana almost a year ago, it goes up and down quite dramatically. Also, I ended up selling it via Craigslist and got $3-4k more than the Carvana quote.

Price could be 2.51L to 2.6L. Registration charges will be extra

Anywhere between 2.75-3.5 lakhs.

About 2L

Get it valued by tru value

If you plan to keep it long term no. Sell in 3-5 years to upgrade yes.

i mean all cars depreciate right as they leave the dealership lot, it happens. I wouldn’t mind really, in the long run , you’ll have peace of mind.

don’t jump to expensive car as first car, practice delayed gratification, settle for a cheap one like u mention and then in 9-10 years when you are in a different place in life based on ur financial upgrade ur car if u want.

This one is really up to you based on your long term preferences and how long you plan to keep your car.

Perodua has insane resell value compared to Proton. But Proton cars are much better to drive and keep for long run. You can buy a Myvi now and sell it off 5 years later. You will get an extra 10k compared to similar Proton cars.

You are absolutely not the only one. I laugh inside when people put so much weight on what someone else will pay for their car in so many years time.

I also own my cars for 10+ years so the depreciation is so high it doesn't really matter in the end. Trade the fucker in and be done with it.

Covid gave people the false idea of resale. You buy a Rav4 Hybrid in 2020 after a 14month waitlist and now its worth $10k more.

Those days are gone and we're back to normal.

I don’t sell my cars.

Resale value is at the very bottom of my list. What matters is if said cars give me joy. Which they all do.

100%. I buy it for me. Never regretted the decision to actually be driving a car and spec I like.

Dude, I've bought multiple French and Italian cars. I see your depreciation and I raise you. But you can't help what you love.

Oh I had one of those too. 1987 900 Aero that was a real pain in the arse. I only lost about $1500 on that one, then again, that was 50% of its value 😅

Look up the same car, same year and mileage, or as close as you can find, and see what they're being priced at

You'll likely get more by selling privately compared with a trade in. But be realistic with what you are asking.

Check what your car is worth as a trade in. Anything you get more than that is a bonus.

Sadly you'll also have to deal with tyre kickers and time wasters.

Also be honest with people. If they ask if there are any defects and you tell them it's perfect only for them to travel to look at your car and see holes due to rust, then you deserve a slap.

Put it through we buy any car, see what they say and add about 20%.

2 tips though.

1. It isn't worth as much as you think it is
2. Selling a car privately is a fucking ballache

Check auto trader etc to see how much a similar car is selling for.

The most effective way is to get online and search up used cars for sale in your area of similar make, model, year, and km, and see what they're selling for.

Get a baleno or swift drive it like hell switch in a year or two. You will get your hand clean on car. And then get a bigger segment car

For a first time buyer, buy a second hand Maruti car with a manual transmission. You will learn a lot of basics with a Maruti car and it's a bulletproof engine which can a take a lot of abuse. After which you can upgrade to a bigger car.

Both choices are fine.

A used car is a better idea if you’re new to driving, you won’t be too scared of making a mistake and scratching the car. But if you’re buying a used car you should have a lower budget because you may want to switch to a new car after 3-5 years.

If you’re decently confident about your driving skills then a new car will be completely fine.

If you decide to go the used car route, then you should be aware that cars from Spinny/Cars24 are usually overpriced by quite a bit to account for their profit margins. The best deals are available when buying directly from a seller, but you will need to do the extra effort to get the car thoroughly checked from a mechanic or service centre.

Don't buy a petrol car because of ethanol blending, my suggestion to you is to buy a Brezza or Urban cruiser diesel second hand. Diesel blending isn't happening because truck drivers will go on strike and bring the country to its knees. Brezza is a Maruti and maruti means reliability and inexpensive service. Brezza is 4* safety rated. Other option is a S cross diesel 1.3. same engine as Brezza with more space.

Get a second hand Alto with manual transmission for a fraction of your budget. Keep the remaining money in an SIP. Ride the car well for 2-3 years and learn driving hands on, then sell it and get a nice big car thanks to the SIP.

Not saying this isn’t a cliche here in India but I wish someone had given me the same advice 8 years ago.

Who are you looking at? I just insured agreed value that was a few $k above the highest dreamer on carsales

Most insurers offer both types. It may also depend on the type of car and how much cover is and other factors..

I just insured a new EV and these all offered market value policies: AAMI, AHM, Australia Post, Beyond Bank, Bingle, Budget Direct, BUPA, CBA, Coles, GIO, Huddle, ING, NAB, NRMA, Oceania, Ozicar, People's Choice, Qantas, QBE, Suncorp, Virgin Money, Westpac and Youi. (Yes, I have a spreadsheet, Yes, I get a lot of quotes.)

I would almost always take agreed value above market value. Market value is just a way for them to argue you deserve less

RACQ offers both options.

With my car I've always used agreed value, until recently agreed options were far lower than the actual value of the car.

They would not increase the agreed value one company that called me even agreed after checking online that replacement was not possible with the agreed value Max they offered.

So now its market value, that I've currently got but that will possibly change when its time to renew.