Is it better to repair body issues before you sell the car or sell the car cheaper because of it?

Question

I am taking the keys from my mom and getting her a chauffer! So, I want to sell my mom's car (well actually a minivan) but it has some dings on the bumper and other minor body issues. The prevailing logic for selling a house is to fix its problems before you sell because buyers overestimate how much the problem is worth. Does the same bode true with the van? In other words would it be easier to sell the van if I invested 1000 into fixing it then selling it for 1000 more or knocking 1000 off the price so the buyer can decide if he/she wants to fix it or use it as/is?

Answer 1

Get an estimate from a dealer or two, and KBB online, to see about what the car is worth now and if repaired. Get repair estimates.

If it will take more to repair than the value increases, don't repair. It may be close enough as well it isn't worth the hassle. Many expect used cars to have a ding or two, and overlook that in favor of good maintenance and general care.

Answer 2

If your sure you can get the money back, and you know exactly how much you have to spend then ok, perhaps. Repairs almost always cost more than you think, even DIY involves much effort, and it's usually better to cut your losses, especially if your national economy is about to take a hit. Few cars are a profitable investment. Take the attitude that you're better rid of it sooner at a loss than holding on for a time, trying to clear it. The market will pay as little as possible, never what you want, perhaps what you need.

Answer 3

Go to www.kbb.com to get an estimate on what the vehicle would be worth at the current condition it's in. Then check the price for the next better condition. If the difference is way more than a grand, then it might be worth it to fix it up.