In Singapore, the used car market is growing rapidly, and buying a pre-owned car can be a great, cost-effective way to get a good vehicle at a resealable price with amazing features. Nevertheless, there are a couple of factors to consider when it comes to purchasing a car. Not just whether it looks spiffy and has a great sound system but whether or not it has any resale value — this is the difference between buying an investment and purchasing a liability. A car with good resale value ensures that you’ll get a decent amount of money back when it’s time to sell or trade in your vehicle. In this article, we will list and describe the top 10 pre-owned cars to buy with the best resale value in Singapore and provide tips for maintaining that figure over time.
Table of Contents
What is the Resale Value of Pre-Owned Cars?
Resale value in pre-owned cars is the amount of money that a car can fetch when it is sold after being used for some time. Resale value is an essential factor to consider when buying a car because it affects the total cost of ownership.
Various factors influence the resale value of pre-owned cars, such as:
- Brand reputation and popularity
- Mileage and condition
- Features and options
- Maintenance and service history
- Exterior and interior condition
- Accident history
- Market demand and supply
Top 10 Pre-Owned Cars with the Best Resale Value in Singapore
According to a report by one of the leading online car marketplaces in Singapore, the pre-owned car market in Singapore has seen a significant uptick in demand in recent years. In 2021, sales of pre-owned cars increased by 33% compared to the previous year, driven by factors such as rising COE prices and supply chain disruptions in the new car market.
The report also highlighted the top 10 pre-owned cars with the best resale value in Singapore. These cars were chosen based on their brand reputation, popularity, and overall market demand. The list includes models from Japanese and European brands, with Toyota, Honda, and Mercedes-Benz taking some of the top spots. The high resale value of these cars makes them an attractive option for those looking to buy a pre-owned car in Singapore.
Toyota Corolla Altis
Resale Value: 66%
Key Features: Spacious interior, fuel-efficient engine, comfortable ride, excellent safety features.
Pros: Low maintenance cost, high reliability, strong resale value.
Cons: Dull exterior design, basic features.
Honda Civic
Resale Value: 63%
Key Features: Sleek and sporty design, advanced safety features, fuel-efficient engine.
Pros: Fun-to-drive, spacious interior, strong resale value.
Cons: Not as reliable as Toyota, higher maintenance cost.
Mazda 3
Resale Value: 61%
Key Features: Stylish design, fun-to-drive, advanced safety features.
Pros: Comfortable interior, fuel-efficient engine, strong resale value.
Cons: Higher maintenance cost, limited rear legroom.
Toyota Camry
Resale Value: 58%
Key Features: Spacious interior, comfortable ride, advanced safety features.
Pros: Smooth and quiet ride, high reliability, strong resale value.
Cons: Higher maintenance cost, basic features.
BMW 3 Series
Resale Value: 57%
Key Features: Sporty design, powerful engine, advanced safety features.
Pros: Fun-to-drive, comfortable interior, strong resale value.
Cons: Higher maintenance cost, expensive parts.
Lexus IS
Resale Value: 56%
Key Features: Luxurious interior, fuel-efficient engine, advanced safety features.
Pros: High reliability, strong resale value, comfortable ride.
Cons: Expensive to maintain, limited rear legroom.
Mercedes-Benz C-Class
Resale Value: 55%
Key Features: Elegant and luxurious design, advanced safety features, powerful engine.
Pros: Comfortable and quiet ride, strong resale value, premium features.
Cons: Expensive to maintain, limited rear legroom.
Subaru Impreza
Resale Value: 54%
Key Features: All-wheel drive, sporty design, fuel-efficient engine.
Pros: Fun-to-drive, spacious interior, strong resale value.
Cons: Not as reliable as Toyota or Honda, higher maintenance cost.
Hyundai Avante
Resale Value: 53%
Key Features: Sleek and modern design, spacious interior, fuel-efficient engine.
Pros: Low maintenance cost, strong resale value, affordable price.
Cons: Not as reliable as Toyota or Honda, basic features.
Volkswagen Golf
Resale Value: 52%
Key Features: Stylish design, fun-to-drive, advanced safety features.
Pros: Comfortable and spacious interior, great handling, fuel-efficient.
Cons: Higher maintenance costs compared to some rivals, not as high resale value as some competitors.
Maintaining the value of your Pre-owned car
So, we’ve now covered the top 10 pre-owned cars with the best resale value, let’s get into the nit and gritty of the situation. Unless you maintain your car, it doesn’t really matter what model or brand you buy — you have to treat your new purchase with a certain degree of love. And care. And, well, maintenance.
This is a critical factor – a junction point – when it comes to maintaining that value.
Let’s look at some of the best ways you can do just that — keep your automobile’s resale value high.
- Regular maintenance and service are key, as they keep your car in good condition and help identify any potential issues before they become major problems. Keeping detailed records of your maintenance history can also help when it comes time to sell your car, as it shows that you have taken good care of it.
- Preserving the exterior and interior condition of your car is also important for maintaining its resale value. Regular cleaning and detailing can help mitigate wear and tear, and repairing any damage promptly can prevent it from getting worse. Choosing popular options and colors can also help, as they tend to have wider appeal and can be more attractive to potential buyers.
It’s important to keep in mind that the value of a pre-owned car will also depend on the current market demand and supply. Factors such as the economy, fuel prices, and new car releases can all affect the resale value of pre-owned cars. Still, by following these tips and choosing a pre-owned car with a good resale value, you can help ensure that you get the most out of your investment when it comes time to sell or trade-in your vehicle.
What to look for?
When looking to buy a pre-owned car, it’s important to consider resale value as one of the key factors in your decision-making process. By choosing a car with a good resale value, you can get the most out of your investment and ensure that you’ll get a decent amount of money back when it’s time to sell or trade-in your vehicle. The top 10 pre-owned cars with the best resale value in Singapore offer a range of options for different needs and preferences, and by following the tips for maintaining resale value, you can help ensure that your car stays in good condition and holds its value over time.
