Depreciation is one of the most expensive components of owning a car, and it directly affects the resale value of your vehicle. The fact is that when you drive your new vehicle off the dealership, its value starts depreciating. After years of use, it undergoes general wear and tears and racks up mileage. Its value is also decreased along with its lifespan. If you like switching your car after a few years, you would want to trade that in or sell it after that period. Your car accumulated depreciation over the time you have used it, and its resale value is determined by its current market value minus the amount of reduction. If you want to reap the most return possible, you need to protect its resale value.
Here is a rundown of a few valuable tips you can follow to protect the resale value of your car.
1. Maintain Your Car Properly:
You need to maintain your car correctly from day one if you want to protect most of its resale value by the time you sell it. Without proper maintenance, you may neglect the necessary repairs that your car needs until the problem becomes worse and way more expensive. However, with appropriate and regular maintenance, you can spot the issues earlier before they become serious car emergencies (check here). Therefore, you should get your car serviced regularly. Getting those minor mechanical issues fixed earlier will also help you extend the lifespan of your car components. It is suggested to get your car tuned up at least once a year every 50,000km. Also, get your car’s engine oil changed every 3 three months or once a season to keep the engine and the vehicle running smoothly.
2. Inspect, Clean, and Repair Tires:
The tires of your car take the most beating of all the other components. The total resale value of your vehicle can be affected by the cosmetic and functional issues that the wheels could sustain over the years. Therefore, you should keep your wheels shiny. Dull and dirty wheels can make the buyer assume that you have not cared for your car enough. Get your wheels polished and cleaned regularly to avoid ugly stains and corrosion buildup. If you live in an area where the season is mostly icy and snowy, you should consider getting a set of winter tires. They help prevent accidents that could damage your car. When your car tires need alignment, you head to the shop, such as Tire Shop Near Me, which is offering a vast choice of tires. According to Wereviewtires.com it is also essential to keep the tire air pressure maintained and get it checked and refilled from time to time.
3. Mind Your Mileage:
Remember that the more miles you put into your car, the quicker it depreciates. To maintain the average market value of your vehicle, the average annual mileage of your car should be 13,500 miles. The number of miles on your car is a significant determiner of its resale value. So, it is critical to watch the mileage of your car and keep it as low as possible. If you drive more than the average annual miles, you are considered as a heavy user of your vehicle. Therefore, you should reconsider the long-distance driving across the states.
4. Park Your Car Carefully:
Bumper scratches, door dings, and fading plastics on your car look as unattractive as wrinkles on the skin. Dents and dings are going to happen no matter how careful you are with your car usage, and they decrease your car’s value. But you can reduce these blemishes by parking your vehicle carefully. While you may drive cautiously on the road, the place where you park your car can affect it. Therefore, you should park your vehicle away from the other vehicles. Choose an empty spot to park your car even if you have to walk a few meters to reach your destination from the parking space. While parking, choose a spot where your car is less vulnerable to scratches of hits from the turning or passing vehicles. Also, a garage is the best place to park your vehicle as it shields your car from the damaging effects of the ice, sun, and other external elements.
5. Safeguard the Areas Prone to Damage:
Certain areas of your car are more vulnerable to regular wear and environmental damage. Fortunately, there are many affordable measures you can take to protect the areas of your car that are more susceptible to wear and tear. The front end of your car is more likely to get damaged as it gets a lot of exposure. You can get a transparent plastic layer applied to your car’s front end to protect it from scratches, dents, and dings. Other options are to use a black vinyl wrap or carbon fiber tape to the high wear areas of your car, such as door sills, ahead of the rear wheels, or top of the rear bumper. You can remove or replace the plastic sheet or carbon fiber tape when you want to sell your car. Also, consider installing mudguards to protect your car from damage and prevent the buildup of grime.
6. Keep the Interior Clean:
While your car’s exterior gives the first impression but maintaining the car’s exterior is also highly crucial. Clean, well maintained, and hygienic interior of your car adds to its value. Even the simple habit of keeping the trash out of your car can help keep your car’s interior in tip-top shape. Use rubber mats in your car year-round and wash them periodically. They help keep the salt, water, dirt, and other liquids from damaging the car’s carpet. Wipe down your dashboard regularly and try not to eat in the car. If your car’s seats have leather covering, buy a good conditioner. Even if your car doesn’t have a leather covering, you can use seat covers to avoid stains and other damages.