The harsh reality of life for car ownership is that your vehicle will lose its value over time due to normal wear and tear, no matter how well you maintain it. Just driving that shiny machine off the lot can see its market value depreciate by up to 15% to 20% each year during its first five years. That means your car will lose more than half its value within the first five years of ownership.
Your car’s value depends on various aspects, such as its age, mileage, modifications, the demand for the make and model, and location. While you cannot influence some of these factors, there are many ways that you can help increase your car’s value and get the most for it. Here are five easy ways to boost your car’s value.
Have the right documentation
Ensure you have the correct documentation for the car, including service records for maintenance and receipts for repairs and upgrades. Keep any document from the first time you bought the car since this will verify the purchase price and details about the car’s history if you bought it used. Collect documents from your car insurance company, including any paperwork related to the insurance claim.
Adopt a serene driving style
The way you drive has a significant impact on the running condition of your car. Aggressive driving not only exhausts the driver but can also add extra strain to the car’s chassis and mechanicals. In addition, speedy driving puts you at a higher risk of a car accident. Even so, if your vehicle has been involved in some major collision, ensure you visit only the authorized car dealers for repair and maintenance.
Add some beauty quotient
Adding essential accessories such as a bumper protector, door protector, window visors, and sequential switchback strips with DRL from XK Glow can boost the basic protection while adding the style quotient of your car. However, be careful not to over-accessorize the vehicle since this will increase the price, reducing the number of prospective buyers.
Keep your car clean
Having your car cleaned for selling is relatively cheap, but it will help you convince potential buyers that paying a higher price is worthwhile. Ensure your vehicle cleaning service includes waxing and detailing to give your car the showroom glow and make it look its best in the picture and on the road.
Maintain and replace the tires
Well-inflated tires will help you keep up with good gas mileage and can also help boost it by up to 3% in most cases. Using an air pump at a gas station typically costs between $0.50 and $0.75, but it can also be done for free in some tire stores.
Balance, rotate and align the tires regularly to avoid unnecessary wear and tear on your car. If your car tire thread looks a bit bald, invest in new tires to help you get a higher resale value if you decide to sell your car later.
Keep up with routine maintenance
Regular oil changes and car servicing can help fix small issues before they become big and costly down the road. These prevention measures help ensure that all car parts are running smoothly for a longer time. In addition, a detailed service record can help boost your car’s value. Maintenance costs vary depending on the car’s make and model, and you can search the services online before making your initial purchase.
Repair windshield chips and cracks
It’s illegal to drive with a cracked windshield in some states, so check with your local highway patrol to be certain. However, apart from being illegal, driving with a cracked windshield could be dangerous to yourself and your passengers. A chip or crack in the windscreen might also put a buyer off if they see it’s something that might get worse at a later stage, costing them more money on replacement. Leaving the damage unattended is likely to affect the value of your car, but fixing these issues is quite affordable.
Avoiding parking under direct sunlight
The exterior of your car can be prone to damage from environmental elements, especially during summer. Vehicles with metallic paint are prone to losing their glitter if parked under direct sunlight for hours. Consider parking your car indoors or in a sheltered area to maintain its value. During winter, practice allowing the engine to rev for a couple of minutes before you start driving. This is particularly essential for diesel cars since the oil-burners need ample time to reach optimum running temperature.
Repair dents and scratches
The body and paint on your car will inevitably experience dents and scratches within your ownership. Small dents and scratches on your car can give a negative impression to the potential buyer, which may influence its resale value. Therefore, if you plan to sell your car, ensure you have fixed all the dents and scratches before you start the process of selling it. Car dent removal is usually relatively affordable and can make a huge difference to your car’s appearance.
If you are confident with your abilities and the damage is not too extensive, you can try fixing it yourself. For instance, you can use toothpaste to remove the scratches if they are small and not deep. Clean the surface, gently apply the toothpaste to the scratch or dent, and then wear it off to get a smooth, shiny surface. However, if there are many scratches and dents, it might be worth having a car dent company fix these issues.
Make your headlights sparkle
Your car’s illuminating power is critical, and you should ensure that the headlights and tail lamps are in good working conditions. If your car headlights are dingy and misty, consider investing in special cleaning products that can return them to their original glory. It may also be worth getting your headlights replaced if this proves unsuccessful, and you are likely to recover what you spent or more when you sell your car. Broken lights are less expensive to replace, and a visit to your local supply store or junkyard can help your car achieve its desired price.
Endnote
It’s inevitable for your car to depreciate over time, but there are some ways you can increase its value with a dealership or buyer. Having the proper documents, maintaining and replacing the tires, adopting a serene driving style, adding some style quotient, and keeping your car clean all help boost the value of your vehicle if you decide to sell it later.