You may have heard that new cars lose value as soon as your drive them off the lot. This is entirely true, and cars will continue to lose value over time and with regular use. You may need to use your car’s trade-in value later as part of a down payment on your next vehicle, or you may have other plans for your car’s equity. There are several steps that you can take to retain more value in your vehicle over the years.
Consider How You Use the Car
The condition of your car’s interior will play a major role in its value. You should avoid smoking in the car as this can drastically reduce resale value. In addition, avoid eating and drinking in the car. Use an upholstery cleaner when necessary to remove stains and odors. You may consider using protective seat covers and covering the back seats when you have pets in the car.
Maintain Your Car With Regular Service
The mechanical condition of the car is also important to resale value. Your simple and regular steps to maintain the vehicle are critical. Change your oil and filters regularly. Follow the manufacturer’s recommendations for services at 30,000 miles, 60,000 miles and more. In addition, get your tires rotated regularly, and always keep them properly inflated.
Make Repairs as Needed
The unfortunate reality is that even with the best care taken, cars can and will be damaged with regular use. For example, you may have a rock fly at your windshield while driving, and it can shatter the glass. Perhaps your neighbor backed into your car while it was parked in the street. Car title loans provide you with a convenient way to pay for unexpected vehicle repairs or the car insurance deductible. This way, you can pay for repairs to improve the car’s condition and to protect its value.
Choose Where You Park With Car
Where you park your car can also affect vehicle value. If possible, park your car in a garage at night. This reduces exposure to the elements. When you are parking in a parking lot, park away from other cars if possible. In addition, avoid parking in tight spaces as well as next to two-door vehicles. Many two-door vehicles have longer doors than four-door vehicles have. This means that they can swing out wider and are more likely to dent your car.
Keep Mileage Down
Mileage plays an important role in car value. You obviously bought your vehicle to drive it on a regular basis for errands, commuting and more. However, there are steps you can take to keep mileage down. For example, you can carpool to work, walk to nearby stores on nice weather days, ask your boss to allow you to work remotely one day a week and more. These efforts can also save you gas money to directly benefit your budget.
Most cars will unfortunately depreciate in value, so it is usually wise to buy a practical car that has a reputation for retaining value rather than the most luxurious car that you can afford. In addition, put these exceptional tips into action to preserve more of your car’s value over time. When you are ready to trade your car in, you will be pleased that you made the effort to follow these tips.