For most of us the car is an essential part of our day to day life. When you're commuting to work or dropping your kids to school, you don't think much about maintaining your car's value. However, when you plan to sell or exchange your vehicle you could be in for a shock. You might find that your car's value is much lower than the price you expect. Hence, it is essential to maintain the value of your car if you wish to protect the investment you have made. Take out a little time from you busy schedule and make some extra considerations. Here are some easy ways to maintain the value of your car.
Why is Value Important
Like you would want to maintain the value of any investment, you would want to do the same with the value of your car. Buying new isn't always the trick to retain the value of a car. But keeping the car you own in top shape is the key when it comes to increasing resale value.
Avoid Excessive Mileage
If retaining value is the key, use your car for essential journeys, and try to use public transport if you can. If you're planning on taking a long trip consider using a rental vehicle. Excessive mileage on your vehicle can lower its value considerably. If you have a long commute, see if there is somebody you work with that would be willing to carpool.
Treating Your Car as an Investment
While depreciation of your car is inevitable, you can make an effort to maximise its value by treating it as an investment. This may include limiting who drives your car, watching where it is parked, and any other things that are necessary to protect your car. Top tip remains to avoid handing over your car to hotel valets as well. Remember, the more shine you retain, the better value you get.
Do not Eat, Smoke or Drink in your
Car Food, drinks and cigarette smoke can leave a lingering smell inside. This could reduce the car's resale value. Any amount of stains, cigarette burns or even damaged plastic parts can result in reduced value.
Keep your Vehicle Serviced
Your car maintenance schedules should be checked regularly. Not only does routine car care help avoid unnecessary, last-minute repairs, it also demonstrates to future prospectors that you appreciated your car by properly maintaining it. Aim to stick to the manufacturer's service schedule if you can. Routine care shows potential buyers that the car has been looked after and some buyers are willing to pay more for this. It is also advisable to maintain a service history of the vehicle. So keep those bills properly in a file.
Store your Car Carefully
If you are not going to use your car for more than a month, store it properly to prevent unnecessary damage and repairs upon your return. Storing your car outdoors can lead to damage by extremes of weather. Sunshine can cause your car's paintwork and interiors to fade, and extreme cold can cause engine damage. Not to forget a sudden thunder storm which can bring down a tree thus damaging your car.
Avoid Unnecessary Wear and Tear
Excessive wear and tear is not a favorable way to maintain the value of your car. Quick take-offs, hard braking, extreme speeding and driving over poor roads can take a toll on a car's mechanicals.You should also always try to keep your vehicle clean inside and out. Use proper products for various surfaces. Regular washing of your car will also remove the salty deposits that can cause rust. Avoid Accidents and Collisions If a car has a history of accidents and collisions, it is difficult to get the best resale value. If an accident occurs, make sure you go to a reputed body shop for repairs. Address minor damages like windshield nicks and cracks and scratches immediately. The owner should also reveal information about major repairs made to the car. Be honest and inform the buyer about the top notch repair you have carried out and he will not walk away for sure.