New car owners should always be wary of how well a car maintains its value. After all, as soon as you drive it off the lot the value takes an immediate hit and only starts to decreased right after. While it’s inevitable that your car’s worth will certainly be lower than what the sticker price was, here’s a peek at some of the factors that go into maintaining good aftermarket value for any car you purchase.
Start with A Good Model
Some cars are just better for retaining value than others, so the car you choose before you purchase it is the determining factor for aftermarket value. Japanese brands like Toyota and Honda tend to have high resale value because they’re affordable and reliable. Always do your research on the brand of car you’re considering before you buy it. Certain brands have better aftermarket value than others for a reason. If this is important to you, stick with those brands when buying a new car.
Protect Your Car
No matter where you live, the weather of your location will wreak havoc on the condition of your car. Try to keep your car in a garage if possible, but if not have some sort of covered solution. Even mild exposure to the sun and reflecting heat from the driveway can destroy any paint job. If your home doesn’t have a garage, a metal covering or portable garage kit may be an option. Either way, make sure you’re protecting the paint job of your car to help preserve its aftermarket value.
Always make sure to follow your car’s regular maintenance schedule with oil changes. You should keep a record of these services and present it to any potential buyers when it comes time to sell. Buyers will be happy to see the record of the car’s maintenance and feel more confident in paying more for a well-maintained vehicle. Detailed records can also help the buyer know when the car should be serviced again. That can help you with a higher asking price during negotiations.
Maintain Accident Records
Just as you should always maintain a record of the car’s service history, accidents and maintenance should be included too. Even if the damage was minor and cosmetic-only, inform the buyer and show before and after pictures. This accurate documentation helps you make a good impression as an honest seller with the buyer.
Fix Any Blemishes
If you’ve noticed the paint is chipping or the clear coat is worn away in certain parts of your car, you should get it fixed immediately. These small blemishes can grow over time, and they directly impact the value of your car. Keep your car waxed to keep the clear coat in excellent condition. Smaller areas to check for issues include door and window seals.
Limit Aftermarket Alterations
It can be tempting to customise a car with aftermarket alterations, but these can often lower the value of the vehicle. That’s not always the case, so research before you spend a bunch of money changing the car to what you’d like. This tip includes things like after-market paint jobs in non-traditional colours.