Buying a brand new car is exciting to say the very least. From narrowing down your choices of makes and models to researching and test driving, to finally hopping into your brand new car, taking in that new car smell, and driving it right off the lot – it’s all a big rush.
You’re bound to derive deep satisfaction from your purchase for years to come, enjoying your commutes and road trips during the weekends. It also makes good sense, however, to maintain the value of your car, should you decide to sell it after some years down the road, so to speak. And as vehicles tend to depreciate in value anyway, your Cerato or other new model car must retain some of its resale value.
In this informative article, we’ll share our top tips and tricks for maintaining the value of your new automobile so that you can reap the benefits when it’s finally time to sell it on.
Servicing and Regular Maintenance
Did you know that people shopping for cars on the secondary market will usually arrange a mechanical inspection of the vehicle they’re keen on? Booking a mechanical inspection or performing a personal inspection using one’s own knowledge of car mechanics, is a vital part of any second hand vehicle buying process.
As a seller, you also have a responsibility to make sure that your buyer knows any prospective issues the vehicle may be facing. This is why regular servicing and a well-documented maintenance history will play a major role in ensuring the resale value of your car stays as high as reasonably possible. Keeping to a regular servicing and maintenance schedule will keep your wheels in prime working order and prevent significant problems with your engine, transmission, and suspension. These tend to be incredibly expensive to fix, and any such issues could significantly reduce the resale value of your vehicle.
As well as keeping your car’s value up, it’s a basic responsibility for all car owners to book your vehicle in for scheduled servicing. This tends to be every six or twelve months, depending on the car and the frequency at which it is driven.
A Warning About Your Mileage
Vehicles with extremely high mileage are next to worthless second hand. This is a black and white fact. If you’re driving more than usual, then your car will be guaranteed to depreciate at a faster rate. To avoid this, drive less than you’re tempted to. Try catching public transport to get to work, or negotiate a company car if you’re in a role that demands lots of travel. Some companies will provide a vehicle allowance or a company car – this can work to offset the loss of value in your personal car.
Be Selective
When you’re car shopping, be selective in the make and model you choose. Why, do you ask? The answer is simple. Some brands of vehicles hold resale value far better when compared to other models. In addition, some brands are more likely to suffer defects, breakdowns and recalls.
Without naming brands, as a rule of thumb, South Korean and Japanese manufactured vehicles tend to be more reliable and hold resale value better than cars built in other parts of the world. These brands tend to have solid reputations and multiple-year warranties, which is also a good sign for savvy car buyers.
Avoid Garish, Bright Colours
This may seem a weird trick, but standard, basic colours appeal more to most car buyers. Someone shopping for a second-hand car may avoid bright pinks, purples, yellows or greens. Instead, opt for more toned-down colours such as white, black, silver or muted red. Cars of these colours are more likely to attract buyers looking for a sensible, cost-effective personal car.
Fix Scratches, Dents and Scrapes
It goes without saying that any cosmetic damage will drastically reduce your ride’s resale value. For this reason, it’s always best to have any scratches, dents, dings and scrapes repaired by a panel beater as soon as they occur. Don’t wait, as rust can get into a dent and spread throughout your car’s frame and become a far bigger concern if left unchecked.
The same goes for cracks in your headlights, indicators, or parking lights. If left unrepaired, these cracks can allow for water to enter into the light, drowning the bulb, and causing lasting damage or potentially even trigger accidents on the road.
Final Thoughts
In this article, we’ve shared some top tips to maintain the value of your car, which will help when it comes time to sell it in the future. Regular maintenance and servicing are essential, as is keeping your mileage down. Be selective in your choice of brand, and stay plain and standard when choosing a colour. Finally, don’t neglect to repair minor cosmetic damage – no one wants to buy a dinged up set of wheels.
If you’re able to follow all of these little tips and tricks consistently over the life of your vehicle, chances are you’ll be able to sell it on at a reasonable price, and receive the highest return on your investment possible.
