Here are all the tips you need on how to maintain your car’s resale value!
There’s no doubt that, over time, the value of your trusted vehicle is getting lower and lower. Some people even take it a step further and say that the value of a brand-new car bought from a dealer loses at least a quarter of its value the moment you take it on the road.
While that might sound discouraging to everybody, it doesn’t have to be, and I’m here to help you. I know a few ways you can maintain your car’s resale value, and it all comes down to how to take care of your automobile when you’re the owner.
I know how frustrating it can be to feel like you have to break the bank to purchase an expensive used car and then try to sell it again for a bargain. No more of that, because if you follow these tips on how to maintain your car’s resale value, you can make a big profit when you sell it! Let’s begin!
1. Maintenace is key
I think you already know that it is not a surprise that taking care of your automobile is one of the best ways to maintain your car’s resale value. You should never skip a service, regardless of how annoying it might be, especially if you drive your vehicle a lot or if you live in a city that’s always crowded.
Here are some important things you should take care of and replace or change as needed: the engine oil, the coolant (antifreeze), the brake fluid, the transmission oil (if you own an automatic), and your filters (cabin filter, oil filter, fuel filter, and air filter).
While it might seem like you can skip a couple of these services, you’re wrong. The more you postpone or even skip these, the more problems your vehicle will have in the long run.
Think of this as a healthy diet for humans. The more high-quality and fresh meals you eat, the better you’ll feel and look. Results might not come easily, but all your actions will eventually pay off. On the other hand, if you only consume junk food and sugary items, you might seem fine at first, but the more time passes, the worse you’ll feel.
You can maintain your car’s resale value by regularly checking and replacing components if needed. The more you take care of it, the better it will function and the bigger the profit when selling it.
2. Keep your vehicle clean and protected
Yes, you’ve read that right. If you want to maintain your car’s resale value, you have to keep it clean and sparkly, both on the interior and exterior. First impressions are important, not only for people but for automobiles too, so if you want to find a buyer willing to pay a big buck for your automobile, you need to make sure it looks pretty.
But that’s not all. Your car might be clean and shiny, but if it has lots of imperfections, a potential buyer will see it and might not like it. If you want to maintain your car’s resale value and not wait a lot of time for a buyer, here’s what you have to do:
First of all, wash it gently, without scratching the paint. You can do that by using wash mitts rather than sponges, and they give it a shiny look too. After that, you can apply some high-quality car wax or sealant to protect the paint from UV rays and other parts that are prone to losing their shine and paint gloss.
Secondly, keep the interior clean and stain-free, and make sure to regularly vacuum. This will help you have a better driving experience too, so don’t neglect it.
Lastly, you need to invest in a proper conditioner that will protect the vinyl, plastic, and leather in your car. I love this Nexgen Interior Conditioner, for all these sensitive parts. It does a wonderful job; you should check it out.
I recommend you wash your car at least once a month and avoid automatic car washes because many of them can scratch your paint.
3. Keep your vehicle’s service history book updated
Another impact factor to keep in mind to maintain your car’s resale value is to keep track of your service history. Whether your document is in a folder, a notebook, or any other type of file, keeping track of everything is going to help you make a profit when selling it.
Believe it or not, people who keep and organize their vehicle’s information, including the service details and receipts, have a higher chance of selling their automobiles quicker and for a better price.
So the next time (and every time) you change, update, or replace something on your car, make sure to document it, preferably with a receipt from the auto repair shop where the service was performed.
You can go the extra mile and write down the mileage on each receipt you get; of course, this is only in case it’s not already done by our mechanic. This will help you and the future owner see clearly when a specific part is serviced, and it will be easier to maintain your car’s resale value.
Moreover, by following this easy tip, a potential buyer might see you as an honest and organized person, so they’ll be confident that you took really good care of the car and know how to deal with it, and they might close your sale.
What do you think about these ways to maintain your car’s resale value?
4. Don’t smoke in your car
If you want to maintain your car’s resale value, one of the worst things you could do is smoke inside your vehicle. When I got my license, I was scared to drive alone, so I took a friend with me for a couple of weeks, 2 to 3 times a week. He was a smoker, and he was so used to his bad habit that he kept forgetting I wasn’t okay with smoke in my car.
Long story short, after roughly 3 packs of cigarettes smoked inside my car, the smell was terrible. I was coughing each time I was inside, and the smell stayed there for months, stuck on the cushions and even in the plastic. It was terrible, regardless of how many odorants I used to freshen the air.
If you’re a smoker too, it’s best and wise to do that outside of your vehicle, because the ashtray and everything around it can be hard to clean. Besides making a mess, you might cause a disaster, especially if you burn the vehicle’s seats. Not to mention, your automobile’s headliner will more likely become smelly and yellowish, and getting rid of the smell isn’t easy.
We have many other tips on how to maintain your car’s resale value, so keep reading!
5. Schedule auto repairs
Many people are tempted to postpone the repairs their vehicles need, saying that they can last a couple more months without a problem. Well, that’s not necessarily true, and you can never know when a piece will let you down.
If you trust your mechanic when they tell you that you need to get something fixed, otherwise you risk causing a bigger problem, you shouldn’t wait around for the worst-case scenario to occur or to finally get that thing fixed.
Experts say that the faster you solve the problems, regardless of how small they are, the better your vehicle will be. That’s because you can prevent damage from traveling to other parts of your automobile, which will help you save money in the long run and maintain your car’s resale value.
I’ve talked to mechanics about writing this article, and they shared with me that they’ve met a lot of people who wanted to sell their cars but weren’t content with how much money they’d made. These people had to make some auto repairs, but they kept postponing it until it was too late and had to pay a lot of money to solve the final issue, which, as you can guess, turned into a mess.
Don’t make the same mistakes that many other automobile owners made before you. The longer you wait to fix something, the more problems you’ll have to take care of at once, and it won’t be cheap. By taking care of your vehicle and scheduling auto repairs when needed, you can easily maintain your car’s resale value.
6. Be a longtime owner
Believe it or not, this one is also an important thing to keep in mind, especially if you want to maintain your car’s resale value. People are more likely to trust and buy a vehicle from someone who has owned it for a longer time than someone who bought a car a couple of months ago and then sold it for profit.
The reason this happens is quite simple: if you plan on purchasing a second-hand car, you want to make sure that it functions properly, that it won’t need incredibly expensive repairs, and that it won’t shock you.
Longtime owners know how their automobile works, take good care of it and are more likely to get higher prices when selling their trusted vehicles. Potential buyers are afraid that a car might have hidden problems and that a new buyer may not see them, compared to a longtime owner who probably took care of them before deciding to sell it.
If you want to discover other ways to maintain your car’s resale value, keep reading!
7. Pay attention to what you buy
If you want to maintain your car’s resale value, you have to pay attention to what you buy in the first place. Understandably, you like a car based on horsepower, type of engine, transmission, characteristics, parking sensors, or any other thing you might need, but if you don’t plan on having it forever, you should think more about what you get.
Even though getting an automobile that will keep its resale value much higher than others is probably going to be more expensive, it can be worth it. Moreover, this car might be built differently, which means that you won’t have to take care of any repairs or high-maintenance routines, and when the time to sell it comes, you have a higher chance of getting a higher price.
Car dealers say that while different car brands can fit your needs and requirements as a whole, they tend to lose a lot of their value over time. This is the case with brands like Peugeot, Renault, Dacia, Citroen, Fiat, and Hyundai.
However, another thing to keep in mind, especially if you purchase a high-end vehicle, is that you should get it when it’s 3 to 5 years old because it loses a lot of its value in the first three years.
8. Watch the mileage
If you want to maintain your car’s resale value, you have to watch the mileage. As you probably know, one of the first things someone asks you when you want to sell an automobile is how many miles it has on it.
It doesn’t matter if the person who asks you this is an experienced salesman or someone who’s looking to get their first car ever. Many people know that the bigger the number of miles, the lower the vehicle’s value.
I know it doesn’t sound encouraging for someone who really needs to use their car, but as I already said, if you plan on selling it after a couple of years, you might want to follow these tips.
For instance, the approximate number of miles an individual drives a year is between 12,000 and 15,000. People who end up with over 20,000 miles a year are considered heavy users of their automobiles. Unfortunately, a vehicle’s value drops consistently once it has more than 100,000 miles on it.
Things go even further, and if your car has passed the 200,000-mile mark, the value keeps decreasing. So if you want to maintain your car’s resale value, you should think twice before using your car for every single thing you need to get done.
Keep reading to discover other tips on how to maintain your car’s resale value!
9. Store it wisely
Another thing you have to do to maintain your car’s resale value is to store it properly. Many people who have garages use them to store their sports equipment and old furniture but don’t forget that the best thing to put in there is your vehicle.
This is extremely important, especially if you live in a hot or very cold climate. Unfortunately, too much sun can fade the outer surfaces of your automobile, including the shiny paint, the moldings, and the trim.
As for the cold weather, if it’s too extreme, it can mess up your engine and related components. While these can be fixed, it’s better to prevent rather than treat, so if you’re lucky enough to have a garage space or an indoor parking lot, take advantage of it because it can help you maintain your car’s resale value and avoid costly repairs.
10. Take care of the wheels
We’re almost done with these tips on how to maintain your car’s resale value, but we can’t end today’s article without saying a few words about your wheels.
Another aspect that discourages buyers from getting a second-hand car is the fact that the wheels look damaged. One of the main reasons why wheels aren’t exactly in great condition is parallel parking or tight turns. Sometimes, drivers might get too close to the curb and end up damaging their wheels.
If that’s your case, you can go to a mechanic and ask for a professional wheel repair. While it might not be the most affordable thing to do, it’s still cheaper compared to replacing the tires.
11. Avoid DIYs
Don’t get me wrong, I’m all about DIY projects that allow me to explore my creativity and save some money, but when it comes to the health of my vehicle, I let experts do their job.
Unless you’re an experienced mechanic, I would suggest you do the same if you want to maintain your car’s resale value. A vehicle that has a weird DIY paint job, two wiper blades that aren’t from the same set, and a crooked bumper is not going to look pleasant to a potential buyer.
I don’t think you should run to the mechanic every time there’s a little scratch on your car, but if there are any big improvements that you need to take care of, a professional might be the best person to take care of this for you.
Do you any have other tips on how to maintain your car’s resale value? I’m curious to know what you think, so if you have any other tips or suggestions on what you’d like to read next, leave them in the comments below and we’ll take care of them.
If you enjoyed reading this article and you’d like to check out something else from Urban Cars Blog, here’s a fantastic post for you: Is My Car Dying? 8 Signs That Confirm It
