Key takeaways:
- A car loses up to 20% in the first year alone, then a further 40% by the 4th year then zeros out by the 5th year – especially if it is a mainstream car.
here are various ways to retain & enhance the resale value of your car.
A crucial aspect of retaining your car’s resale value is adhering to a regular maintenance schedule.
A dent or ding on your car’s body can affect the resale value of your car by around 10%.
Ensure you have your car appraised before you plan on selling it as it could help you decide the feasibility of the resale.
Your car is a major purchase. In addition to the original expense, you also need to consider how to maintain the worth of your automobile. Maintaining the value of your car can be difficult, but it's not impossible. This blog post by Gosch Collision will discuss some smartest ways to retain value in your car. Follow these tips, and you'll be able to keep your car in great condition for years to come!
Tip 01: Choose Your Car Carefully
Although Chinese-made automobiles have advanced significantly in recent years, it would be naive to assume that the market has overcome the stigma associated with maintaining them. The same holds for models or manufacturers with a bad reputation for high maintenance costs or poor after-sales and parts assistance.
Additionally, you should consider the location you're exploring. Sedans with smaller displacement engines often retain their value better than those powered by 2.0-liter or larger engines. Additionally, midsize SUVs with diesel engines hold their value better than those with gasoline engines.
Spend time researching the ownership costs of different models before narrowing down your choices. Make sure to consider not just the price of the vehicle but also its depreciation rate, fuel efficiency, and insurance premiums. You can find this information on most manufacturers' websites or independent organizations such as Edmunds or Kelley Blue Book.
Tip 02: Keep Up the Entire Record of Your Service.
Maintain a record of everything done to your car, and stick to your maintenance plan. A spotless service record can greatly benefit you while negotiating because prospective buyers want to dig into your vehicle's service history.
Tip 03: Stick to Original Parts
If you have to replace a part, use an original equipment manufacturer (OEM) replacement. OEM parts are made specifically for your car model and often cost more than aftermarket ones.
But they're also more likely to last as long as the original parts and could improve your resale value.
Tip 04: Keep the Vehicle Clean
Maintaining a clean automobile is simple, but it is sometimes easier said than done. We are all aware that maintaining a clean interior and exterior is important. However, this is sometimes challenging, given the frantic pace of modern life, especially if you have kids.
Because of this, interior or exterior that is consistently unclean can cause body corrosion, fading carpets, seats, and permanent stains. These can affect how well the automobile performs, detract from its appearance, and turn away potential buyers when it comes time to list or sell it. Ideally, you should clean your automobile thoroughly more frequently than twice a year.
Tip 05: Don't Let Little Problems Linger.
Have your car checked out and fixed as soon as you discover something isn't right. It might be anything from a strange noise from the engine compartment to a few scratches.
Remember that a minor vibration might signify a more serious problem, and scratches can turn into rust if ignored for a long time. When keeping resale value, it's advisable to err on caution.
Tip 06: Pay Attention to Where You Park
You might not think that where you park your vehicle has anything to do with how much it will be worth when you decide to sell it, but it does. Sunlight and rain can damage your car's interior and exterior, so make sure to find a covered spot or garage whenever possible.
Harsh weather conditions can also lead to problems with the engine, so it's best to avoid them when you can.
Tip 07: Keep Those Tires Shining
A gleaming set of alloy wheels has a certain pleasing quality, and prospective purchasers will agree. In addition to making the automobile appear wonderful, well-kept wheels reveal a lot about how the vehicle has been used and how frequently it has been cleaned and maintained.
Wheels endure daily abuse and can easily accumulate a layer of dangerous road grime and brake dust. This may result in discoloration, corrosion, rust, and pitting. Use a good cleaner to remove dirt from your wheels after rinsing them whenever feasible to prevent damage.
Tip 08: Use Seat Covers
Whether you have children or pets, seat covers are a great way to keep your upholstery clean and fresh.
They also protect your seats from becoming sun-faded, which can quickly diminish the resale value of your car. Select seat coverings that are simple to take off and clean so you can maintain their cleanliness.
Tip 09: Don't Smoke or Let Anyone Smoke in Your Car
When it comes time to sell a car, the smell of stale tobacco inside a car is usually a significant turnoff, regardless of whether you smoke or routinely give a lift to someone who smokes. It is clearly up to you if you persist in smoking in your car, but don't claim ignorance when a dealer gives you hundreds of dollars less for it as a trade-in when it's time to sell.
Tip 10: Drive Safely and Reasonably
Of course, you can't help getting into an accident if someone else hits you. But generally speaking, the fewer accidents you're involved in, the better off your car's value will be. Also, avoid speeding tickets and other moving violations, as they will negatively impact your car's value.
While some of these ways may seem common sense, car owners often overlook them. Adhering to these easy suggestions may keep your car's worth high and sell it for the highest price.
Are you dealing with the aftermath of an accident? Don't worry!
The Gosch Collision, serving Beaumont, CA, will get you and your car to the road in like-new condition.
We are the ideal solution to handle your auto body needs, from the smallest scrapes to the worst crash damages. Our collision repair professionals are the best-equipped and best-trained people to get your car in new condition.