7 Tips for Maintaining Your Car’s Value

It’s widely known that when purchasing a new car, the car’s value drops as soon it is driven off the lot. However, there are several ways to help maintain the value and in some cases, even add value to your car in the event that you are trying to resell it or simply get the most out of your vehicle. Below are some tips on how to keep the value of your car, as well as how to add value to a car so that you can get the most out of your vehicle investment.  

1. Store Your Vehicle Properly

Where you store your vehicle can play a huge role in keeping your car in tip top shape. This is  especially true if you live in areas that experience extreme cold or hot weather. Too much sun exposure can start to fade the outer surfaces of your car’s paint, trim, and moldings. On the other hand, extremely cold temperatures can cause a variety of issues that wreak havoc on a car’s engine and related components. That said, we recommend storing your vehicle indoors in a garage. By storing your car indoors, the climate is a tad more controlled thus will help maintain your vehicle’s value over a longer period of time. If you are unable to store your car in a garage, covered parking is your next best option.

2. Get Your Car Serviced Regularly

Although often overlooked, getting your vehicle serviced regularly is one of the most important things you can do to help prolong the life of your car. Regularly servicing your car can help you avoid costly repairs in the future. Also, if you have ever asked yourself “what affects resale value of a car or how to increase car trade in value,” note that having a record of the service done on your vehicle will help demonstrate to a prospective buyer that you have taken great care of the vehicle and it has been maintained properly.

3. Investing in Professional Repairs

Along with keeping up with regular maintenance on your vehicle, when you are in need of a repair, try to avoid repairing your car yourself. When trying to maintain the value of your car and resell it, nothing looks worse than a DIY paint job, a bumper that is barely hanging on, or unmatching wiper blades. Even people with little to no car experience will likely be able to spot when a vehicle has been worked on by a non-professional. Furthermore, at-home repairs often end up causing or becoming a more serious issue down the road. While we are not advocating that you run to a repair shop every time something seems off with a car, we do recommend seeing a professional for any major repairs to help ensure that the vehicle looks and runs great and retains as much of its value as possible. 

4. Maintain Proper Fluids and Tire Pressure

Have you checked your tire pressure lately? When was the last time you added windshield wiper fluid? People tend to overlook these types of small things, but as a whole, they are important to keeping any vehicle running smoothly. For example, having proper oil levels helps to make sure that the engine is performing optimally and maintaining proper tire pressure can help improve your mileage. Taking the time to check your car’s oil and maintain the recommended tire air pressure are small/low cost tasks that can result in a longer lasting vehicle. 

5. Keep Your Car Clean

Rules aren’t always fun, every car owner should make the no eating, drinking, or smoking in the car rule. Even though people are on the go now more than ever, you should still avoid using your car as a restaurant, storage facility, break room, etc. Nothing hurts the resale value of a vehicle more than when it smells like an ashtray. If spilled in your car, common foods and fluids like coffee and popsicles can also permanently stain your seats, as well as leave undesirable stickiness and lingering smells – which can definitely hurt your car’s overall value. 

6. Fight Rust

Rust is one of the last things you want to discover on a car. Over time, rust can corrode and eat through the exterior and interior of any vehicle. Therefore, rust should be avoided at all costs. If you live in a cold climate with harsh winters, we recommend that you wash your vehicle regularly to remove any possible salt deposits – which can eventually lead to rust. We also recommend getting your car undercoated with a rust proof spray to further avoid salt deposit building up. 

7. Know Which Vehicles Retain Value

As you likely already know, not all vehicle makes and models are created equal. For example, Toyota and Subaru are known for retaining their value much longer than other cars. Educating yourself on which vehicles retain their value over many years is important to know when choosing your next car. Although most people are attracted to a particular vehicle by their appearance and price, we always recommend thinking of car buying as a long term investment.

Now that you know a few ways to help maintain your car’s value, you might be wondering how to get the resale value of a car in the first place. Although there are many sites that can provide good information, a great place to start your research would be kbb.com. There you will see that following the above 7 tips to maintain your car’s value will in fact help you sell your car for more when the time comes.