Owning a car for the very first time is always an exciting phase. You can’t wait for all the adventures where you can drive your car. You might think that you got everything covered to ensure a safe and flawless drive. But are you really doing everything you can to preserve, if not improve, its trade-in value?
What Factors Can Impact the Value of My Car?
Certain assets can appreciate over time. But more often than not, many people consider cars as a liability instead of an investment. This is since cars often depreciate and fast if you fail to take great care of your vehicle.
Different factors can determine how much your car is worth if you decide to sell it in the near future. Knowing these factors will help you determine the steps you can take to better care of your vehicle.
The first thing buyers will look at is your car’s exteriors. Dings and dents, scratches, and missing parts may not be that big of a deal for you. But for icky buyers, these indicate just how much work and effort you put in caring for your vehicle.
The habits you have come to be accustomed to driving your car will show within your car’s interiors. It can be easy to tell if you eat, drink, smoke, or use your car to take your dog for regular trips. If your interior looks like a mess, it will be hard to find a buyer willing to pay good money for your vehicle.
For car buyers, mileage matters. Many buyers consider having 100,000 miles as a red flag.
Regular maintenance is crucial in keeping any vehicle in great condition. But then, your car’s mileage can give buyers a big hint on how great the engine is. If you have more than 100,000 miles on your car, chances are mechanical issues are to be expected.
The market is one definitive factor that can influence the value of any car. Like in any market, supply and demand command the game. If you want a better resale value, consider your car of choice first.
Things You Can Do to Better Protect Car Trade-in Value
Thankfully, you can do many things to preserve the value of your vehicle. The key is to be mindful of how you use, care for, and maintain your car. For starters, consider the following tips.
Protect Your Car’s Exterior
Dents, scratches, missing parts, and dents are always unsightly. SO, as much as possible, drive defensively and park your car in areas considered safe. It would be best to keep your car in your own garage to keep external elements from ruining its exterior.
It also helps that you invest in certain items that can help protect your car paint better. One of these is paint protection films for autos. There now exist easy-to-apply films that are durable and resistant to yellowing, keeping your car’s paint in great shape even after a few years.
Change Your Car Habits
Do you smoke or eat in your car? Are you letting your laziness stop you from cleaning your interiors? Or maybe you love going on field days with your pooch?
Maybe you always park your car in areas where it is under direct sunlight? All these can ruin your car’s interiors. The earlier you change your habits and the more attention you put in your vehicle, the easier it will be to preserve the integrity of your interiors.
Take your vehicle to the mechanic and invest in regular car upkeep. They can help detect issues early and address these issues before your bill goes overboard. It also helps if you learn how to do basic car repairs and maintenance so that you can save money on repairs.
Invest in Certain Improvements
There are many projects you can invest in if you want better trade-in value for your car. The first step is to tackle all maintenance and repairs needed. As much as possible, skip aftermarket and performance-based accessories since many buyers consider these as a turn-off.
Change old and worn-out parts with quality ones. Think of leather seats, automatic locks and windows, and neutral-colored paints. When the time has come to sell your car, think about what usual car buyers want, which often includes cars that owners have already depersonalized.
Owning a car is an exciting feat. You get to do everything you want with it since it is your investment. But it always helps to think about the future by protecting its trade-in value. In case the time comes for you to part with your vehicle, you can get the most out of its value.