Key takeaways:
- It’s no secret that a new car loses 20{60302a704289ffbf97a4812255a0bc8a6f23097845ce08f1b9000776917131c2} in value as soon as it drives off the lot. But there are a few ways to retain its value.
- Regular maintenance is key. This means keeping up with your oil changes, tune-ups, and other scheduled servicing.
- Avoid getting into accidents, but also avoid dings and scratches. A small ding can decrease the value of your car significantly.
- Keep it clean, both inside and out. A well-maintained car will always look newer than a neglected one.
- Don’t modify your car. If you must, only do so in ways that can be easily undone.
It’s no secret that depreciation is one of the biggest costs associated with owning a vehicle. The average car loses around 49{60302a704289ffbf97a4812255a0bc8a6f23097845ce08f1b9000776917131c2} of its value in the first four years. Fortunately, there are ways to retain the value of your vehicle and minimize depreciation. This blog post by Lake Elsinore Honda will discuss some of the best methods to retain the value of your vehicle. Keep reading to learn more!
Way 01: Be A Smart Shopper
The less money you invest upfront, the less money you stand to lose over time. Sounds straightforward, but securing a fair price at the beginning is crucial to prevent losing a lot of money on a car.
Make sure you’re paying as near the invoice as possible by doing your homework, calling a buddy who knows a lot about cars, using a broker, or using a car-buying service. Consider things like the make, model, and year of the vehicle. The good deal you get now will be repaid when you sell it at market value later.
Way 02: Choose Your Parking Spot Wisely
Door dings, bumper scratches, and fading plastics, which are like wrinkles on the face in that they will occur regardless, will reduce the value of your vehicle. However, you can minimize these imperfections by parking far from other vehicles and selecting open spaces in the outer regions of parking lots as frequently as possible. If there are no available side-by-side stalls, select a parallel place near the end of the row so that your automobile is less exposed to passing or turning cars.
You can also preserve your car’s value by parking it in a garage away from the harsh effects of the sun and ice.
Way 03: Keep an Eye on Your Mileage
The number of miles on your car will also affect its value. The lesser the mileage, the greater the value, but once your car hits 100,000 miles, it depreciates faster.
It will add up quickly if you regularly drive a lot for work or long distances. You can limit the wear-and-tear on your car by carpooling, taking public transportation, or planning your errands to make fewer trips.
Way 04: Protect Scratch- And Wear-Prone Areas
The external paint job of a car plays a major role in its value. To maintain its value, you’ll want to avoid scratches and chips by being careful when you park and driving defensively.
The front end of the automobile is particularly prone to excessive wear. Choose a transparent plastic shield installed by the dealer or an aftermarket shop to lessen corrosion and damage from rock chips. Instead, give other areas that experience wear and tear—such as the area in front of the rear tire, the door sill, and the top of the rear bumper—some thought by adding some carbon fiber tape or black vinyl wrap. Remove the wrap or replace it when it’s time to sell. Mudguards also aid in reducing the accumulation of dirt on the paint.
Way 05: The Inside Counts; Avoid Eating and Smoking Inside the Vehicle
It is not easy to keep the inside tidy, especially in the winter. However, routinely shaking out the carpets, clearing the trash, and occasionally wiping the dash will keep the inside looking new and maintain your respect for the interior.
We all know the perils of eating and drinking in the car—spills happen. And smoking not only leaves an unpleasant smell and causes discoloration on upholstery, windows, and the ceiling. If you must consume food and beverages in your car, use a coaster and a closed container to prevent surface condensation.
Way 06: Protect Those Shiny Tires and Wheels.
Your car’s tires and wheels take a beating every time you hit the road. Over time, they can become scratched, dull, and chipped. To keep them looking their best, regularly clean them with soap and water (or a tire cleaner if they’re particularly dirty).
Keeping your tires and wheels in excellent condition will make your car look nicer and help retain its value. After all, new tires and wheels are one of the first things potential buyers will notice when considering your car.
Way 07: Wash and Wax Regularly
Don’t wait for a lovely day to wash your Honda, just as you wouldn’t wait for a great day to clean the home. In warm weather, do it twice a month, either by hand with special vehicle soap (not dish soap, which destroys wax), and in winter, when a weekly wash is preferable, pick a self-spray or touchless car wash. Stay away from vehicle washes that employ rotating or tumbling scrubbers since they will undoubtedly damage the finish, especially after repeated usage.
Additionally, adding a coat of wax twice a year can do wonders for your car’s paint job. Not only will it make it look shiny and new, but it will also help protect the paint from scratches, bird droppings, and other environmental hazards.
Way 08: Keep All the Records
Keep all the records of your car’s maintenance. This will help in two ways; first, it will remind you to keep up with the maintenance, and second, it adds value to the car when you go to sell because prospective buyers will be able to see that you have taken care of the car.
Ways 09: Fix Scratches and Dents Immediately
When little dings or dents do occur—whether by accident or due to someone who admitted their guilt—have them fixed as soon as possible. Hire professionals to do this job, as they have the expertise to turn a disaster into its original shape.
Don’t wait too long; repair them as soon as they appear because one dent may turn into two, then into four, and before you know it, you’re losing respect for your vehicle, which only encourages carelessness and a decrease in value.
Way 10: Do Not Drive Recklessly
We all love the wind in our hair (or through whatever hairstyle you have), but driving too fast not only endangers your life and the lives of others but also takes a toll on your vehicle.
Reckless driving damages your car’s suspension, alignment, and tires. Over time, this will lead to costly repairs. Therefore, decreasing your car’s value.
Ending Note:
When the time comes to sell your automobile to the next buyer, if you follow these few tips while you still possess it, you might be able to receive more money for it.
Trust Lake Elsinore Honda, serving Winchester, CA, with your routine maintenance!
We do all types of Honda servicing and maintenance work efficiently and promptly. We only use original Honda components to make sure your car keeps running as it should.
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