What do all cars have in common?
Well, they all have wheels and an engine, but today that’s not the answer we’re looking for. All cars depreciate! In fact, a car can lose as much as 10 percent of its value the moment it leaves the dealership, followed by another 10-20 percent through the first year.
Vehicle depreciation is one of the banes of car ownership, especially if you plan to resell the car at some point down the road. The good news is there are steps you can take to help preserve car resale value.
In this article, we’re telling you how to maintain car value.
Let’s drive right into it!
Buy Cars That Are Known to Hold Value
All cars depreciate, but not at the same rate.
Some cars are known to embark on relentless depreciation as soon as they find an owner, and others are known to depreciate at a slower rate. When your goal is to resale the car in the future, it’s in your best interest to buy a car that’s known to hold value well – at least if you want to recoup as much money as possible after the resale.
To find the cars that hold value well, you have to do plenty of research. Reading online, you’ll find plenty of motoring experts with their own recommendations. Zero in on a car that’s recommended by most experts. If you’re into pickup trucks, for example, the TOYOTA Tacoma is excellent at holding value.
By buying a car that’s good at holding value, you’ll have taken the first step toward car resale value preservation.
Drive Diligently
It’s of no gain buying a car that holds value well if you’re going to drive it like a possessed maniac. Every car has its limits, but this doesn’t mean you push it close to its limits every time you get behind the wheel.
Diligent driving is key to keeping your vehicle’s engine and gearbox in good shape even as you rack up the miles. Shifting gears recklessly or over-revving the engine unnecessarily are some of the practices that will send your car’s engine and gearbox to an early grave.
Stay on Top of Maintenance
Proper, on-time maintenance helps keep your vehicle in excellent condition. Different cars have different servicing intervals, so ensure you know your car’s maintenance needs.
Stay on top of maintenance isn’t just about taking the car to the mechanic. It’s also about finding the right mechanic who will do a good job on it every time you take it in for maintenance.
Protect the Body from the Elements
A healthy engine and gearbox are key to reselling a car at a good price, but the body counts as well. In fact, a body in bad shape will turn off many prospective buyers even if things under the hood are in excellent condition.
Be sure to protect your car’s exterior. Wash it regularly and avoid parking it where it’s exposed to harsh weather elements.
Original paint in crisp condition is a great selling point for any used car. Getting XPEL paint protection soon after you buy the car will help preserve its original paint.
Protect Your Car Resale Value the Right Way
Car resale value keeps dropping every year, though rapidly in the first years of ownership, then somewhat slowly as years roll on. With this guide, you now know what you can do to preserve car value and fetch a good price when it’s time to resell it.
Explore our blog for more car ownership tips.
