How to Maintain the Value of Your Car

by - Thursday, May 25, 2017

Regardless of how much you spend on your car, it is an item that can quickly deplete and lose you money. Whether you have a huge luxury SUV or a Hyundai i20, cars all depreciate at a rapid rate. There are so many people that go out and buy a new car, and when they come to sell it a few years later, they can’t believe how much the value has dropped.

Looking after your car and following some basic principles will help you to keep the value of your car as high as possible and make sure that you don’t lose any of your well-earned money unnecessarily. Here are some top tips:

 Keep all of your service documentation

When it comes to selling you car, having a full-service history will make a significant difference regarding value. If a potential buyer knows that the car has been regularly serviced and well-maintained, then they will be willing to pay more for it. If you have mislaid some documentation, then it could end up costing you more than you think, so have a good filing system for your car documents.

Put the car in your garage

If you have access to a garage, then make sure that you use it. The weather can cause massive damage to your car, even if it is only gradually. Over a few years, your bright red car could turn a dull pink color if exposed to the sun or your bodywork could start to rust if your car is continually out in the rain.

Keep mileage low

You probably already know that the mileage affects the value of a car but how conscious of this are you when you make decisions to drive places? If you are thinking of taking a long journey then is there another option that will save your mileage? 1000 miles can soon be racked up and start bringing your value right down. If you travel in your own car on business or have long commutes to work, then it might be worth looking for other options like using another car in the family that is maybe older and won’t be impacted as much by added mileage.

Be a good driver

Everybody tries to be a good driver, but did you know that driving smoothly will help to maintain the value of your car? Also, you will be less likely to have bumps and scrapes that significantly reduce the value of your car. If you do get small scrapes then you can use T-cut to try and restore the body paint rather than going to a repair shop to have it done. Driving carefully can also help save on fuel costs.

Don’t be fooled by car salespeople

When you do decide to finally sell your car, make sure you are getting true value for your car. Part exchanging rarely works out at a good deal but is convenient. Only opt for this if you know that you are getting close to what your car is worth. Do your research and find out exactly how much it is worth and look at private sales options.

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