Best Ways to Preserve your Vehicle’s Resale Value
For many people, purchasing a vehicle is the biggest purchase they will make until they buy their first home. In many ways, a vehicle is an investment, because you will likely trade in your old car to offset the cost of a new vehicle.
For that reason, it’s in your best interest to make sure you keep your car’s resale value as high as possible. In this blog, we’ll go over several easy things you can do to make sure you maximize your trade-in value when you’re ready for a new vehicle.
The dash of your car or truck has all sorts of lights when service is needed.
Regular oil changes keep your engine running at top performance, and letting them lapse can cause serious issues that not only cost you more in repairs, but can leave you stranded. Regular brake maintenance will extend their usage before they need to be replaced, and keep you safer.
Keep an ear out for weird noises that could indicate issues with your vehicle.
Most importantly, keep a record of the service performed on your vehicle, which will aide in the assessment when you are ready to sell.
Keep It Clean Inside and Out
Maintaining cleanliness inside and outside of your car will help keep your vehicle looking like it just rolled off the lot with that new car smell.
If you can help it, don’t eat or smoke in your vehicle. These odors can get stuck in the interior of the car, and may not come out, even with a detailing job.
Pet hair can be a nuisance as well, so if you transport your pet in the car, lay down blankets or towels that keep that fur off your seats.
The elements and weather can wear down your vehicle’s exterior. Regular car washes will preserve the paint job, remove stuck on debris that scratch the paint, and clean the undercarriage during the winter months if you live in an area with snow.
Waxing the outside one to two times a year will remove small blemishes and keep your car looking shiny. No one wants to buy a dull vehicle!
Be Smart about Parking
It may not seem like much when you do it, but being mindful of how and where you park can keep your resale value higher, because you can prevent easy dings and scratches.
If you have access to a garage, park inside as much as possible. If you must park on the street, look for parallel spots with ample room to park, and far from corners and alleys where less careful drivers have the opportunity to clip your car.
Fix Small Cosmetic Things ASAP
If you do happen to discover some sort of small scratch, ding, or chip, don’t wait to fix it! Small paint chips can grow into larger paint chips, which can lead to rust if your vehicle is exposed to the elements. Letting small scratches and dings add up, and diminish the look of your vehicle, as well as the cost.
Getting into the habit of fixing small cosmetic blemishes quickly prevents you from becoming complacent when it comes to the shape of your exterior.
Keep Mileage Down
What’s one of the first things you see listed on a used car classified? The mileage!
Finding ways to keep your mileage down has a number of benefits. Your warranty is likely tied to your mileage, so you can save money on maintenance. Vehicles with lower mileage can sell for more money, even if it hasn’t had any other major performance issues.
To reduce your overall mileage, find opportunities to carpool when you can, or use alternative travel methods like public transit, or a bike. If you enjoy road trips, consider renting a car to keep miles off your own vehicle.
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Whenever you make the decision to sell your old car and finance for a new one, Consumers Credit Union has competitive auto loan rates for you! Apply for a loan today to see how attainable your dream car is!