HOW TO MAINTAIN THE VALUE OF YOUR CAR
KEEPING YOUR CAR IN GOOD WORKING ORDER WHILST FOCUSING ON RESALE VALUE
Every motorist will want to maintain the value of their automobile in case they decide to sell it down the line - this often happens as people’s circumstances or needs can change. It is important to maintain the value as depreciation can have a huge impact which could see you make a big loss when selling the vehicle. So, how can you go about maintaining the value of a car?
First, it is important to be aware that you should start to take steps to preserve the value as soon as you purchase the car. This is true whether you purchase new (value drops the fastest in the first year) or if you buy used from somewhere like FOW. It can also be a good idea to purchase a vehicle with slower depreciation rates than others too.
Keep It in the Garage
If possible, it is best to keep the vehicle in the garage or in protected parking. This will not only keep it safe but also protect it from the elements along with debris. If you cannot keep it in a sheltered location, make sure that you clean it on a regular basis so that any damaging dirt or stains do not damage the paint. You should also regularly clean the interior and get rid of any stains as quickly as possible.
Follow the Service Schedule
Carefully follow the vehicle’s service schedule which you will find in the manual. In addition to identifying and fixing problems, this is also important when it comes to selling as the potential buyer will see that it has been properly maintained and serviced over the years.
There is a lot of vehicle DIY maintenance that can be carried out by the owner to make sure that the vehicle stays in good condition. This will include replacing the oil, checking the fluids, inflating the tyres, rotating the tyres, replacing the air filter and various other tasks.
Careful Driving & Mileage
Hard-driving, including sudden stops, hard turns etc., can take their toll on a car over the years. This is why it is important to drive gently to prolong the life of the automobile. You can also preserve the value by keeping your mileage to a minimum so look to consolidate trips or walk and cycle where possible.
In addition to looking after the car, a motorist should also make sure that they keep all of the paperwork connected to the car neatly organised. This will allow them to show the potential buyer that it has been carefully looked after over the years.