We all know that cars are depreciating assets, but that doesn’t mean that you can’t do anything to stop their free-fall. Depreciation depends on many factors like demand, recalls on vehicles, and the reputation of the company. But a lot of it has to do with how you used and maintained the vehicle. By making a few adjustments, you could end up getting much more for the vehicle and find a buyer much faster as well. Let’s take a look at a few things that you can do to maintain the value of your vehicle.
Choose the Right Car
The first step in preserving a car’s value is picking the right car to begin with. The first thing you should look at is the car maker’s reputation, especially when it comes to mechanical issues. Things like electrical problems are especially bad and are one of the reasons why some vehicles depreciate much faster than others.
Another factor that will affect how fast a vehicle will depreciate is the market for aftermarket parts. If the parts are too expensive or impossible to find, then you’ll have trouble finding buyers and the car won’t have as much value. These are all things you will need to know and factor in when buying a car.
If this is a bit too intimidating for you, you should speak with a few mechanics and ask their opinion on different vehicles. You’ll notice that many cars will come back as unreliable so take their advice and scratch them off your list.
Keep it Clean
The next thing you should do is make sure that you keep the vehicle as clean as possible at all times. This is especially true if you live somewhere where they use a lot of chemicals on the road. These can start eating away at the paint and components under the vehicle. Widespread damage there is very bad news as it may threaten the structural integrity of the car.
You also have to be very careful with things like bird droppings. These are very bad for the paint of your car and will cause damage to it after a while, so remove them as soon as possible.
While washing your car by hand is nice, it is time consuming, and it can be difficult to do a good job if you don’t know what you’re doing. If you don’t have the time, the best option is to take your car to an automated car wash. Now, you don’t just want to go to the first automated car wash you find. Some use harsh brushes that can cause even more damage. Instead, we suggest you utilize a car wash that uses water jets such as Sundance Carwash. They have multiple locations so you should have no problem finding one close to where you are. They use jets to clean your car completely and quickly, and also have additional equipment if you require interior detailing.
Wrap the Car
Investing in a vinyl wrap could be the best decision you could make for your vehicle. Vehicle wrapping doesn’t have to be tacky. You can pick wrapping that looks exactly like the paint you currently have. However, you shouldn’t hesitate to go wild and opt for something original if you want to. That’s because you’ll be able to remove the wrapping once you decide to sell the vehicle, and the paint underneath will be in perfect condition. Vinyl wrapping is applied in a way that preserves the paint and also protects it from the elements. You also won’t have to worry about someone keying it as much as the vinyl provides an additional layer of protection.
Be Careful Where You Park
Another way to prevent damage to your vehicle is to be careful where you park. If you’re going to park your vehicle in a parking lot, stay away from crowded areas even if they’re closer to where you need to go. You don’t want someone to bump your car when going in and out or when opening doors. There’s a strong chance that anyone who damages your car will leave without leaving a trace, so take the steps necessary to protect your vehicle or you might return to a nasty surprise.
Cut Your Driving
Mileage is one of the most clear-cut factors for depreciation, so try to limit your driving if possible. See if anyone else at your workplace who lives close to you would be interested in sharing a carpool with you, or check to see if any public transport can get you into the office on time. Not only will eliminating daily driving help to reduce your mileage, but you’ll also have free time on your work commute as well.
These are all things that you can do to protect your investment and maintain your car’s resale value. None of these steps is difficult and it could save you money in the future.