Buying a vehicle is an investment. It is one of the biggest investments that people make for their convenience. Most people invest in their dream cars such as a hatchback, sedan, minivan, sport utility vehicle (SUV), and trucks. Some vehicles run on gasoline, hybrid of gasoline and electric, and just electric. Your vehicle starts depreciation from the moment you drive it off the dealership.
You can maintain the value of your car for years to come like for 5 or 10 years. At that time, some value is attached to the car that gives your car a market value at the time of selling. The key is to maintain the value of your car as high as possible.
Ways To Maintain the Value of Your Car
Keep Your Vehicle Clean
Let us first eliminate the obvious. Keeping your car clean is a no-brainer but it is easy to say and difficult to do. We all know that we need to keep the interior and exterior of our car clean. with the pace of life today, it becomes difficult to keep the car clean, especially when you have kids.
Over time, if you don’t keep your car clean, the dirt inside and outside the car can cause corrosion of the car’s body. The carpets or foot mats discolor and the seats go out of shape. Also, your car might get permanent stains on the interior or exterior. As a result, the performance of your car will be affected.
When it comes to resale, it would be a dealbreaker when a buyer comes to check your car. To maintain the value of your new car, you should wash it once or twice a month and wax it after 2 to 3 months. It will protect the body of the car from corrosion.
Your Vehicle Is an Investment
They say a car is a terrible investment because it is a depreciating asset. Your car might not be as good tomorrow as it is today. This is true because the value of your car when you buy it from the dealership will not be the same in the coming years. With this in mind, it is helpful for you to think of your vehicle as an investment.
If you think of your vehicle as a transport tool to take you from point A to point B, then you are less likely to take care of your car. For example, if you plan to change your car after 5 years, then you must be keeping in mind the resale value of your car at that time.
It will help you to plan for a new car or trade it for a down payment of the brand-new vehicle. As a result, you will be taking care of your car in various ways.
Keep An Eye on Mileage
When someone goes to buy a used car for their use, they ask the common question that how many miles does it have on it. It does not matter if the neighbor down the street is asking you this question or a salesman at the used car lot. You must keep in mind that mileage determines the worth of your car. The more the miles, the less the value of the car.
You have to keep an eye on the mileage and try to keep it low. A normal car user drives around 12,000 to 15,000 miles a year, but if you are driving it 20,000 miles a year, it tells that you have been using the car a lot. If your car reaches 100,000 miles, the value of the car drops steeply. Your car reaches 200,000 miles on the meter, the value of the car plunges further.
Hence, you should think twice before driving your car for more miles than average use. Going on long trips or driving it across the country can reduce the value of your car.
Avoid Excessive Wear and Tear
There is no limitation of usage on you about your car. But if you want to maintain the value of your brand-new car, then you must avoid excessive wear and tear. Using your car for more than transportation reduces the value of the car within no time. Towing recreational vehicles, boats, and moving items from one place to another like plants, shrubs, accessories, etc. affects the value of your car.
For example, if you use your car, minivan, or truck for your neighbor’s kids to drive to and from the school, you are a heavy user of your vehicle. It is not good for long-term usage of the car and leads to wear and tear of the vehicle.
To maintain the value of your new car, avoid towing, start-and-stop driving, loading heavyweights, and excessive speeding. Try to avoid driving in poor road conditions. It will help the car to age with dignity.
Park Your Vehicle Properly
The garage in your home is not for storing sports equipment or furniture. It is to store or park your car safely. If you live in extremely cold or hot weather, then parking the car in the garage is a good idea. If the car has been under the sun for too long, the outer surface of the car starts fading. Also, the trim, body paint, and moldings start wearing out.
In extremely cold weather, the dropped temperature can wreak havoc on the engine of the car and related parts. Instead of parking it on the driveway, you can park it in a climate-controlled garage. It will save the costly repairs and maintenance of your new car. Hence, you will be able to maintain the value of the car for long-term usage.
Maintain the Fluids and Tire Pressure
To keep the vehicle running smoothly, you have to pay attention to the little things such as checking engine oil and brake oil, and tire pressure on an almost daily basis. The engine oil makes sure that you get high performance while driving the car. On the other hand, the tire pressure ensures a better mileage per gallon. Also, it protects the suspension from wearing out because of poor road conditions.
Checking the engine oil and brake oil helps you to know that if they need to be changed. If yes, then you can change it yourself or take it to the auto dealership or oil-changing service stations. Checking the tire pressure is an inexpensive thing to do. You can check it while refilling the gas at gas stations.
If you take care of your new car and keep regular checks on fluids, oils, and tire pressure, then you are maintaining the value of the vehicle.
Most people avoid taking their car to service stations unless their car stops working. Instead of doing so, take your car to service stations on regular basis and get the repairs and maintenance done. Keeping a record of car maintenance adds value to the car and when you want to resale it, the buyer will be pleased to know that you have taken care of the car.
If you are getting your car regular maintenance, it means that your car never broke down in the middle of your traveling. After few years, when a time comes when you want to resale it, the potential buyer might willingly pay you more than quoted market value. Hence, you will know at that time that you have maintained the value of your new car till that time.
Don’t Smoke, Drink or Eat in Car
Instead of making the car a restaurant where you can eat fast food, drink coffee or soft drinks, and smoke in the car, you should keep it what it is meant for. When you drink soft drinks, the car gets littered with cans, bottles, or juice boxes along with straws. Also, the food crumbs, popsicle sticks, and wrappers make your car a trash can. When you smoke in the car, the car smells like an ashtray.
If the juice or soft drink gets spilled in the car, the seats will have a permanent stain. Same works with food. Talking about cigarettes, the ash creates a mess in the car. If you drop your cigarette on the seat, it might get a burn hole. Even if you are smoking, drinking, or eating in the car, make sure that you get it washed or serviced after completing a trip or after working days.
It is better not to eat, drink or smoke in the car to maintain the value of the car.
Maintain the Value of Your New Car – Dos and Don’ts
Car enthusiasts take care of their car as their child or a pet. They don’t want to see a single scratch on their car’s body. They maintain and get it washed regularly. Taking care of your car from the first day will help you to maintain the value of the car. After years, when you want to resale it and buy a new car, you will get the quoted price.
Sometimes, a well-maintained car is sold at a higher price than market value. Checking the fluids regularly, dealership maintenance and repairs, driving it with care, and other dos and don’ts help you to maintain the value of your brand-new car for the years to come.