Unlike many assets, cars depreciate as they age. As such, they lose value as soon as they are taken off a sales lot. This can be frustrating for someone who wants to resell their trusty vehicle. However, there are ways to improve the resale value of your vehicle and keep it in great condition until you want to sell it. We’ll go over a few easy ways to keep your car in an excellent condition below.
Regular Checkups and Maintenance
Regular maintenance is important for any car, but the actual schedule may vary depending on how often you drive and other factors. This applies to oil changes and other requirements. It’s best to talk to a trusted mechanic to ensure things are being done when they should be. One place never to skimp is when it comes to the oil suggested by the manufacturer. This can void your warranty in some cases, and in others, it can lead to a vehicle that simply doesn’t run as well.
Another thing to keep up on is tire pressure. Low pressure can lead to safety issues and poor performance. In addition, properly inflated tires can lower your fuel economy. Check what your manufacturer suggests and keep the tires at that level as much as possible.
Timely Problem Resolution
Many drivers don’t take small problems seriously as long as the car is running. The problem with this is that those tiny issues can snowball and turn into major problems. Whether you have a mechanical issue or a cosmetic issue, it’s important to take care of it as quickly as possible. This will avoid the problem that comes about when a small issue gets big and ends up costing equally big amounts of money to take care of.
Watch Your Mileage
One of the things that determine the value of a used car is the amount of mileage it has when considering its age. In addition, insurance companies look at this when setting premiums. The average, according to the U.S. Department of Transportation is 13,500 miles a year. Driving more than that is likely to bring the car value down somewhat, while driving less can actually make your car depreciate slower than a car driven the average miles a year.
Keep the Vehicle Clean
Of course, washing and detailing your car is important when keeping it in the tip-top shape. However, other things can also have an impact. If you or your passengers eat or drink in the car, there can be accidents that lead to messes that must be cleaned up. Smoking in the car can lead to burnt holes and a smell that non-smokers will not appreciate in a potential car. Having ugly stains in the car can lower the resale value so avoid them as much as you can.
All maintenance and repairs should be documented, along with receipts, and kept somewhere safe. When the time comes to sell the car, you will have proof of the maintenance you have done that can be shown to the prospective buyer. This can lead to a higher resale value.
Protect the Appearance
The color of a vehicle alone can affect the resale value, so it stands to reason that appearance is important. Storing your car in a garage or shed is an excellent idea. Large amounts of sun can fade your interior and exterior, including trim and moldings. However, in cold temperatures, the weather can cause issues with the engine parts. Choosing to use a climate-controlled storage can avoid repairs in the future, whether functional or aesthetic.
Also of concern are paint chips and scratches. While a few nicks won’t be a real problem, you may want to consider a new paint job before selling it off to increase its value and appeal to the masses.
By taking care of your vehicle and avoiding problems before they occur, you can often keep your car in good shape until it comes time to sell it for your next vehicle. Follow these tips and tricks and when it comes time to sell you won’t have to worry about expensive repairs. You can sell it off and move on to the next thing.