Although many assets appreciate in value over time, a car is not one of them. With each kilometre driven and each passing year, your vehicle’s value will depreciate, even if you initially purchased it preowned.
However, there are some proactive steps that you can take to protect the value of your used car or truck. Here are 10 things to consider:
One of the best ways to preserve the value of your used vehicle is to buy it for a great price – because the less you spend up front, means the less that you have to lose in the long run. There are many used car and truck deals to be found – all you have to do is hunt them out.
Sun damage, door dings, bumper scratches and other blemishes will affect the resale value of your used vehicle. That’s why it’s important to always park smart at home and on the go. If you are in a busy parking lot, opt for a spot farther away from the entrance to avoid other vehicles. If you have access to a garage at home, make space for your vehicle to ward off the harsh effects of the sun, which can fade your ride.
Prevent Scratches and Chips
Certain parts of your vehicle are more prone to rock chips and scratches, especially the front end. To keep your vehicle looking pristine, consider installing a clear plastic guard on your hood to reduce your chances of rust and damage from chips.
Fix Scratches and Dents Immediately
If small dings and dents do appear, be sure to get them fixed right away. If not, your vehicle is more susceptible to rust, which is a huge turn-off for used car buyers.
Clock Less KMs
By lessening the number of kilometres that you drive each month, you not only help the environment and your gas budget, but you also maintain the value of your vehicle. When possible, look for other modes of transportation, like public transit, bike, foot or carpooling. Come resale time, you’ll likely fetch more money for your vehicle if you kept your mileage low.
Maintain Your Tires
Proper tire maintenance is critical to the safe operation of your vehicle. It also improves fuel economy, extends tire life, provides better handling, prevents avoidable breakdowns and reduces harmful emissions. By regularly maintaining your tires, you not only enhance your vehicle’s safety, but you also protect its resale value at trade-in time.
Detail, Wash & Wax
Whether it’s road salt in the winter or mud and bugs in the summer, dirt and debris will mar your used vehicle and decrease its value. That’s why you should detail and wash your car or truck at least bi-monthly and wax it a least twice a year. In doing so, you’ll keep your vehicle looking and smelling squeaky clean and re-sale ready whenever the time comes.
As soon as you take ownership of your new-to-you vehicle, make an appointment for rust proofing. Remember to keep your receipt too, as this important piece of paper can help ensure your car's resale value.
Avoid Spills and Stains
Eating while driving is a surefire way to stain the interior of your vehicle. If you do encounter a mess, be sure to clean it up right away, so that stains don’t have a chance to set in.
Maintain Your Investment
The best way to protect your investment is through regular maintenance. Not only will this ensure that your vehicle is running in tip-top condition, but it will help you dodge expensive repairs down the road. Be sure to keep all of your service records too – a proven car history shows pride of ownership, which will work in your favour come resale time.
Want to learn more? Stop by our dealership in New Westminster, B.C. to speak with our knowledgeable sales and service staff. We are here to make your car ownership experience a pleasant one!