Maintain the Value of Your Car
Everyone knows that their vehicle is not going to last forever, but finding a way to maintain the value of your car can ensure that, when the time comes to trade it in, you get the most for your money. Don’t worry – those scratches may not define the value of your car, but having a few tips can help you. If you’re asking “What is the value of my car,” it all starts with understanding current market values. These tips are sure to give you what you need to always keep the value of your car in check.
What Is the Value of My Car?
Here is a question many people have. “How can I check my car value?” The value of your car is dependent on one thing – what someone else will pay for it. Many factors influence the value of your car including things you cannot control such as market climate and changing trends. However, to maintain the value of your car, you should first understand what the current value is.
There are several ways to do so. You can call your car insurance company, and they can offer you some guidance. You can also use one of the various free tools online to help you, including Kelly Blue Book. The key here is to use this as just a starting factor. Condition and overall maintenance matter, too.
Car Resale Value Tip – Don’t Paint It
To get your car resale value up, you simply need to keep it in as good of a condition as possible. The best way to do that is to ensure you are maintaining it routinely. Did you know that some buyers refuse to purchase a car that has been repainted? Most people do not spend the money to paint a car. The most common times for repainting, then, is when there has been significant body work done on the car. Some dealerships see this as a sign that the car may not be worth as much. Whenever possible, don’t paint the car. Instead, be sure to maintain the integrity of the body through proper maintenance.
The Best Value Cars Don’t Depreciate as Fast
Another way to ensure you are not purchasing a car that cannot maintain its value is to look at the depreciating rate for the vehicle itself. Some vehicles depreciate in value very quickly. Others do so at a slower rate. For example, a high priced SUV with all of the latest gadgets may depreciate 30 percent in the first 18 months. By comparison, a smaller passenger vehicle depreciates about half as much. The more expensive a vehicle is, the more likely that it will depreciate at a faster rate. That is because those who are willing to spend a significant amount of money to buy a car like this want to buy a new one.
Get Car Value Up with Proper Maintenance
Proper maintenance is a very important step in keeping the value of a car high. This includes getting the oil changed as often as the manufacturer recommends it (usually every 3,000 miles or three months). You should also have the engine inspected, the tires rotated, and the transmission maintained. Work closely with the local dealership or a mechanic you trust to maintain the integrity of the vehicle from a maintenance point of view through routine cleanings, inspections, and replacement components.
Boost Resale Value By Maintaining the Interior
The interior of a vehicle is one of the best ways to boost the resale value of the car. By protecting the floor and seats from stains, for example, you maintain the vehicle’s overall value better. You also want to minimize any wearing of the upholstery, door handles, and the dashboard. In some situations, it is also important to minimize the amount of damage to the truck. The interior of the car should be properly cleaned routinely. Use seat coverings to minimize upholstery risks. You can also have a professional clean the car frequently to ensure there is no dust buildup.
Car Value Check – Consider a Trade in Sooner
One of the ways to minimize any financial loss is to trade it in sooner. Age is something you cannot control. However, trading in the vehicle while it is newer can help. Aim to do so within 5 to 6 years when possible. With a quick car value check, you can see the current value of a car at any given time based on the make and the model. Use this as a guiding factor to know when it is time to trade it in.
Cars depreciate in value as soon as you purchase them and drive them off the lot. However, you can maintain the car value better by simply minimizing damage and risks to the vehicle.