How to retain my cars resale value? 7 Nifty Tips to consider
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It’s natural to be excited about your new car when it arrives, but now is also the time to consider what you can do to limit depreciation and retain as much of the car’s value as possible.
Depreciation is the most important factor in determining your car’s resale value when it comes time to sell it, but there are several things you can do to protect your car’s resale value and keep depreciation to a minimum.
- Make use of a good paint protection product.
- Maintain regular servicing and maintenance.
- Repair any damage and drive cautiously.
- Don’t smoke in your car.
- Consider where you will park.
- Maintaining a clean vehicle is essential.
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1. Paint Film Improves Resale Value
One of the primary features of the paint film or the paint protection is its capacity to self-heal. Small scuffs and scratches will be absorbed by the coating when exposed to heat from the sun, hot water or a hairdryer.
Even if someone brushes up against your bumper, we can bring back a high-gloss surface that makes your vehicle appear like new again.
If the damage is more significant, but not into the paint, we may remove the film and replace it with a fresh piece.
The outcome is like having the paint replaced, except it just takes a few hours, rather than a few days.
This kind of paint protection film coating serves to resist water and dirt, making it simpler to wash your car and keep it clean between washes.
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2. Maintain regular servicing and maintenance
Maintaining your automobile is an investment in its future worth; if you purchased a new car, I would hope that you would follow the manufacturer’s service plan without being instructed.
Even if you don’t like the idea of spending money on a repair, you should think of it as an investment.
A few dollars spent immediately quickly might save you a lot of money in the long run if you leave anything and it grows into a larger issue, which could cost a lot more in the long run.
To convince potential purchasers that you’ve spared no money in maintaining your car, save all of the invoices you’ve accrued.
Having a complete service history is priceless, particularly if all of the maintenance has been performed by the original dealership.
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3. Repair any damage and drive cautiously.
If you wait until some undefined future date to repair small damage, one of two things is likely to happen.
On the one hand, it may become worse and need a larger, more expensive repair; on the other hand, you could never get around to it, lowering your car’s market value when someone is seeking to purchase it.
I’m not advocating that you take your vehicle to an expensive body shop the moment you see a little dent in a door panel from parking in a mall parking lot, but if you notice a few of dings or notice anything more serious that need repair, get it done.
There are firms located around the nation that will come out and do minor repairs at your house or place of business, and they will provide you with a price prior to committing to any work.
I know this ( Driving carefully tip) difficult one, and you might think I’m going to suggest that driving like your grandmum takes all of the fun out of owning a car.
If you buy a sports car or muscle car, a future buyer will assume it has been thrashed whether you have or have not.
If you can keep the miles low, the residual value will benefit as well. Of course, if you need to drive your car, you must do so because that is why you purchased it in the first place.
However, in the long run, lowering your mileage can make a significant difference in the residual value of your vehicle.
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4. Don't smoke in your car.
There’s no escaping the fact that when it comes time to put your automobile up for sale, the stench of old cigarette smoke is an undeniable turn-off for potential buyers
Smoking in your car can and will surely reduce its resale value by up to $5,000, according to a vehicle valuation expert.
According to Fernando Garcia, consumer director at leading vehicle data and valuation specialist HPI, smoking in a vehicle can cause physical damage as well as leave a stench.
According to HPI, smokers are frequently either unaware of the odour or believe that using an air freshener will solve it.
Even if you insist on smoking in your car, you have every right to do so. However, you shouldn’t be surprised if a dealer gives you hundreds of dollars less for your car when it comes time to sell because of your bad habits.
While there is often no obvious damage in the majority of cases, the smell of smoke is a major problem for motor dealers.
Smoke becomes embedded in the fabric of the car and the climate control system, necessitating the services of a professional valet and specialised tools to clean the air conditioning.
Many tobacco smoke pollutants attach to surfaces and accumulate in internal systems, where they can be released back into the environment days and weeks after smoking.
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5. Consider where you will park.
Think about where you park your vehicle while you’re at home and when you’re out and about, and you’ll save both time and money.
When you’re at home, parking in a garage is ideal since it keeps your vehicle safe from the weather while also making it more difficult for someone to break in and steal.
Avoid parking beneath a tree if you can’t park in a garage or any other kind of shelter. Leaving sap on your car’s paint may do a lot of harm, but birds perch on trees, and you know what they’ll do to your vehicle if you leave it.
Make sure to park in an area that isn’t likely to be affected by bird droppings, and if they are, remove them as quickly as possible.
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6. Maintaining a clean vehicle is essential.
Don’t simply sit around and wait for the birds , dust , weather and trees to do their thing on your vehicle before you have it cleaned.
When we initially obtain our new automobile, most of us clean it every few days, but the novelty wears off fast, and the time between cleans becomes longer and longer as time passes.
Cleaning your automobile on a regular basis not only helps to maintain the paint in excellent condition, but it also helps you to spot dents and other small damage more quickly than you would otherwise notice.
And I’m not simply referring about the outside of the building. Taking care of the interior of your automobile is just as important as taking care of the outside.
Whenever you have a stain on a seat or a carpet, dealing with it as soon as possible will increase your chances of having the stain removed completely.
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7. Keep all of your car's documentation and receipts in one place.
It should go without saying that you should store all of the vital documentation for your car in one location, but make sure they’re all in one spot, such as a folder, so that none of them go misplaced.
It’s also a good idea to save any invoices or receipts for repairs you’ve done on your car so that you can present them to prospective purchasers when the time comes to sell it.
To avoid prospective buyers believing you are attempting to market a problem car, some individuals believe it is best to keep any issues you have had corrected under wraps until they are ready to sell. Most of the time, however, this is not the situation.
When you’re able to demonstrate that you’ve had things corrected, it demonstrates that you’ve taken good care of the vehicle and that there have been issues in the past that the new owner will not have to worry about since you’ve already taken care of them.
Many automobiles, especially those that have been on the road for a few years, have recognised problems that are extensively publicised.
If you have documentation to prove that your car has had a known fault rectified, this will only benefit the resale value of your vehicle.