6 Things You Can Do to Retain Your Car’s Value
How to Maintain Car Value: Advice From a Dealer
Unfortunately, all vehicles will lose a percentage of their value each year — this is called depreciation. However, there are certain things that you can do to help maintain car value so that you can get the most bang for your buck when it comes time to resell.
Many factors are taken into consideration when evaluating your vehicle’s value, such as condition, age, and total mileage. While some of these items are out of your control, others can be addressed to ensure your car’s resale value is the best that it can possibly be. Continue reading to learn six ways that you can help retain your vehicle’s value.
Why Would You Want to Retain Your Car’s Value?
If drivers intend to resell or trade in their vehicle one day, properly maintaining it can lead to hundreds of dollars in sales and savings. Retaining your car’s value as much as you possibly can helps it stay in great condition and allows it to last much longer than vehicles that aren’t properly maintained.
In addition to a higher selling price, you’ll want to keep up with your vehicle’s maintenance so you are safe when driving. If you don’t keep up with your car’s regular maintenance, you are risking malfunction and the possibility that your car could fail you at a critical moment — causing a car accident. However, when a vehicle is maintained, it will run smoothly, and produce a higher return of investment when it comes time to sell.
Related: How to Get the Best Price for Your Trade-in
6 Things to Do to Maintain Car Value
Now that you know why you should want to retain your car’s value, let’s discuss six things that you can easily do to help slow down the depreciation process and retain your car’s value.
1. Stay On Top of Cleaning
It may seem like a no-brainer, but keeping your vehicle clean will help reduce depreciation dramatically. You’ll want to regularly clean the inside and outside of your car to make sure that it looks presentable. As for the interior, you should remove any trash and clutter, vacuum the seats and carpets, and dust and wipe down surfaces. The exterior needs regular cleanings, especially in between seasons, and a fresh coat of wax every once in a while. Practicing these simple cleaning techniques will increase the value of your vehicle overtime.
2. Park Far Away From Other Vehicles
If you don’t want to be a victim of the car door ding-and-dash, it’s wise to park far away from other cars when in a busy parking lot. When you decide to park beside other vehicles, you’re risking them hitting your car with a door when they try to exit or return back to their car — resulting in scratches or dents to your car’s body. In addition to the damage being costly to repair, a dent or scratch will decrease your car’s value until it’s fixed.
3. Have Your Car Serviced Regularly
Like we mentioned before, having your car serviced regularly is important for three reasons — it increases your car’s value, ensures safe driving abilities, and avoids costly repairs later on. It’s a great idea to have your vehicle serviced regularly and keep all maintenance receipts. Simple car maintenance like an alignment, getting your oil changed, and tires rotated will ultimately increase the value of your vehicle overtime and help it last longer.
Additionally, saving all of your maintenance receipts will ensure that you have a record of service to prove to the next potential buyer that you took great care of the car. Having proof of regular maintenance can also help you negotiate a higher sale price of the vehicle.
4. Use a Good Paint Protector
As vehicles age, the exterior fades, paint chips, and it becomes more noticeable that your car’s value is depreciating. A great way to combat this is to use a high quality paint protector that will seal your vehicle’s paint job to avoid cracking and chipping. Making sure that the outside of your vehicle is in just as good of shape as the interior will help maintain car value and increase the selling price.
5. Don’t Smoke in Your Vehicle
If you want to retain the value of your vehicle, it’s important to keep the cigarettes outside of the car. Cigarette smoke is tough to remove or cover up in vehicles and can dramatically affect the overall value of the car. If your vehicle smells like an ashtray on the interior, chances are it will not resell for a reasonable price.
6. Drive Carefully and Avoid Accidents
This may seem obvious, and the number one lesson learned from drivers education, but driving safely will help retain your vehicle’s value overtime. Just one car accident can reduce the resale value of your car, as repair costs contribute to overall depreciation. In addition to having costly repairs and reduced resale value, all accidents will show up on your vehicle history report.
Value Your Trade at Battleground Kia
Cars that retain their value end up selling for a much higher price than vehicles that were not well taken care of. Following these six simple steps will ensure that your car is in the best shape possible when it comes time to resell.
If you, or someone you know is interested in trading in their old ride for a brand new one, don’t hesitate to contact our team here at Battleground Kia! Visit our website or click the button below to value your trade with us!