Yahoo Finance 6 Affordable Upgrades That Will Increase the Value of Your Car by $5,000 or More
Not every vehicle upgrade will increase its value, but some will. As an added bonus, certain modifications will add both to your car’s aesthetic and functional value.
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While the exact cost of these upgrades depends on the make and model of your vehicle, how easy it is to source parts, and local labor costs, they could be worth doing for future resale purposes.
Here are some relatively affordable upgrades that will increase the value of your car by around $5,000 or more, according to automotive experts.
Engine Performance Upgrades
“In terms of car upgrades that significantly enhance vehicle value, focusing on performance, aesthetic and technological enhancements are key,” said Geoff Cudd, consumer advocate and owner of Find The Best Car Price.
In particular, Cudd suggested finding ways to increase your vehicle’s engine performance. “Upgrading the engine components to increase horsepower, such as by installing a turbocharger or supercharger, can add considerable value,” he said.
Depending on your vehicle’s base model and the quality and type of engine upgrades you make, you could potentially increase its value by $5,000 or even $10,000. The cost of a supercharger, meanwhile, typically ranges from a few hundred to a couple thousand dollars — though you could save money by installing it yourself.
To offset the starting costs and boost your car’s overall value, you may need to add a few additional upgrades. This could include an air intake system or engine tuning.
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Better Tires and Rims
The tires you choose play an important role in how well your vehicle handles on different types of terrain. Choosing high-performance tires can also help minimize the wear and tear when you drive.
But choosing new tires is also an aesthetic upgrade.
“Upgrading to premium wheels and tires is another way to give your car a striking new look,” said Joyce Gutierrez, automotive expert at 4WheelOnline. “Larger wheels with low-profile tires can provide a more aggressive stance, while high-performance tires can enhance grip and cornering ability.”
Don’t skip out on the rims either. Even a simple update can improve your car’s aesthetic value. New rims can also make your vehicle’s wheels look newer and protect them from external damages, so this might be worth doing closer to when you plan to sell.
New tires usually cost at least $400 for a new set. When all’s said and done, you could be looking at spending anywhere from $500 to $1,000 for this upgrade. But if you can sell your car for 5-10 times that, it could very well be worth the upfront cost.
Complete Body Kit
If you’re looking to increase your car’s value, a body kit is the way to go. One of these could make your car look brand new while helping it stand out on the road.
“Aftermarket modifications rarely increase a car’s value. In fact, many dealerships strip them away before putting the car on sale to gain more profit. However, one of the exceptions is the original manufacturer’s body kit, such as Audi’s S-Line or Dodge’s SRT,” said Evaldas Zabitis, automotive expert at carVertical.
“Many people love these subtle kits, but they must be complete to maximize the car’s value, including bumpers, side mirrors, spoilers and wheels,” Zabitis continued. “Just don’t forget that a body kit doesn’t transform a regular Audi A6 into the Audi S6 — it’s just aesthetics that some people are willing to pay a few thousand dollars for.”
Technological Upgrades
Most newer cars come equipped with modern technology such as infotainment and navigation systems. If yours doesn’t have these already, before you sell is a good time to install them.
“On the technological side, adding advanced features such as a high-end audio system, navigation or updated infotainment system can make an older vehicle more competitive with newer models,” Cudd said.
Such upgrades could cost hundreds of dollars or so, but they could also potentially add thousands to your car’s resale value.
Reliability Modifications
“Reliability is a common concern when buying modern used cars, especially when many have gremlins that reappear even after fixing them,” Zabitis said.
Fortunately, it’s possible to truly repair most of these issues and increase your car’s value.
“For example, in some cars, original plastic water pumps start leaking after 20,000 miles, while aftermarket aluminum ones last over 100,000 miles,” Zabitis said. “Most used car buyers are aware of these common problems, and they would gladly pay extra to avoid them in the future.”
Other Interior and Exterior Upgrades
When it comes to aesthetics, there are many upgrade options available. One of the top ones is paint protection.
Paint condition and corrosion often are the biggest concerns when looking for a used car, and buyers are willing to pay a fortune for rust and scratch-free examples,” Zabitis said. “However, even if you take good care of your car, sun and dust will eventually damage the paint. To avoid that, you can choose from many different paint protection options, including regular waxing, a ceramic coating or a paint protection film (PPF).”
According to Zabitis, PPF can cost several thousand dollars, but it generally pays off because it lasts a good 10 years.
Other more minor aesthetic improvements that could increase your car’s value include adding high-quality leather seats, window tinting and heated seats.
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