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Getting the Best Resale Value for Your Hyundai Car

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Hyundai is considered to be the second most important auto manufacturer in the country, a number of their models being bestsellers in their respective genres. When the Hyundai cars enjoy a significantly critical position in the resale market, you might still feel the dilemma of whether your chosen used Hyundai car is worth the price that has been demanded. Moreover, when you are selling your Hyundai car, you must ensure that you receive the best possible resale value. We will discuss certain crucial factors that will ensure the best resale deals of used Hyundai cars, and maintain proper Hyundai car insurance coverage.

Crucial factors that affect the resale value of Hyundai cars:

Hyundai has attained a critical position in India's competitive automobile market, becoming an indispensable part of the lives of Indian citizens. However, mere popularity is not enough to fetch you the best possible price in the resale auto market. There are certain crucial factors that you need to keep in mind while dealing with Hyundai car resale.

1. Overall health condition of the chosen Hyundai car:

Proper maintenance of the concerned Hyundai car is one of the most determining factors. The phrase, “first impression is the last impression”, holds especially true under such circumstances. Before purchasing a pre-owned Hyundai car, you must ascertain that your chosen vehicle is devoid of any major scratches, dents, corrosion, or blemishes. Hyundai's cars are especially noted for their comfortable interior space and exclusive features. If you ensure that these conditions remain well in your car, you can ensure fetching a satisfactory price in the resale market.

2. Age of the concerned Hyundai car:

When the matter of reselling your Hyundai car or any other car arises, age is a major determinant in ascertaining a proper resale value. Despite the best possible maintenance, every car suffers depreciation because of ageing. The older the Hyundai car, the lower will be its price, maintaining an inverse ratio. While reselling, you have to ensure that the concerned vehicle is in usable condition and is ready for further utilisation.

3. Odometer reading:

However, lucrative it might seem, never ever try to tamper with the original odometer reading of your resalable Hyundai car. The odometer reading is a very crucial determinant in ascertaining the vehicle’s value in the market. It displays the usage history of the car, meaning the more it has been used, the lesser amount it can fetch. In case you try to alter the readings, you will lose the slightest possibility of selling it. Try to undertake a fair deal and steer clear away from such unfair practices, maintaining transparency.

4. History of accidents:

Although a transparent odometer reading and the vehicle age are important determining factors, none of them is quite as important if the concerned vehicle possesses any history of accidents. It gravely affects the price determination procedure in the resale market. Under such circumstances, you have to expect at least 15%-20% lower price than originally it would have been. Even if your car has undergone extensive overhauling and normal functionality has been restored, you are not supposed to hide it from prospective buyers. Before sealing the deal, all the relevant facts and figures must be clarified without any ambiguity to avoid any future misunderstandings or obligations.

5. Model popularity:

The SUVs and hatchbacks of Hyundai are comparatively more popular and enjoy premium resale value in the market under current circumstances. Even at the primary level, almost all the Hyundai cars are well appreciated and noted for their exclusive feature package and awesome reliability. However, certain particular Hyundai variants are more appealing when compared to others. Depending on the market trend, we can say Hyundai models like the Grand i10, Creta, or Elite i20 are more popular in the resale auto market when compared to other models. This implies that these variants are liable to fetch a higher resale value, depending on the relevant circumstances.

6. A total number of owners:

The total number of owners of one particular car plays an essential and critical role in assessing the value of the concerned vehicle in the resale market. Since Hyundai cars imply relatively affordable ownership, it still keeps them attractive and desirable even if you are a third owner. In the case of pre-owned Hyundai cars, in case you become the second owner, you must ensure that all the associated service records are readily available and that the vehicle is regularly taken care of, ensuring proper maintenance.

7. Powertrain and transmission:

Despite the popularity of Hyundai vehicles in the pre-owned auto market, the factors like powertrain and transmission will contribute to slight fluctuations in determining the actual price of the concerned car.

The diesel variants of the Hyundai models, reaching towards the end of their registration tenure, are liable to fetch a lower price. However, the Hyundai turbo engines are a major attraction, possessing the capacity to boost the resale price.

The transmission of the concerned Hyundai vehicle is a critical determinant in the resale car market. All the current Hyundai models remain well-equipped with around three AT, i.e., automatic transmission and at least one MT or manual transmission. Depending on the dependability of the nature of transmission of the concerned vehicle, a higher resale value can be expected for the Hyundai car.

The ideal time for reselling your Hyundai car

Since cars are depreciating assets, within the primary year of usage, they lose almost 20% of their original value. In the following years, it keeps on depreciating at the rate of 10% annually. However, the Hyundai cars retain a better value in this respect when compared to other competitive branded cars. The pre-owned Hyundai vehicles always remain in significantly higher demand, because of their lucrative designs, reliability along with feature-loaded functionality. Ideally, to fetch a satisfactory resale price, you have to try to sell it within the first three to five years of ownership. Under such circumstances, if everything remains all right, you can expect to fetch nearly 60% of the concerned value after at least 5 years. However, the associated market forces tend to affect it in some way or the other.

Conclusion

The above discussion clearly highlights the major trends and factors that impact the resale value of pre-owned Hyundai cars. However, pre-owned or new, you have to maintain a befitting Hyundai car insurance to ensure proper safety and security under unprecedented accidental circumstances.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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