As soon as you take your new car out of the showroom, its value starts depreciating. Almost every asset depreciates, and that’s true for your car as well. Depreciation plays a key role when it comes to reselling your car. Your vehicle’s value is decreased after years of use and general wear and tear. The resale value of your car is determined by its initial value minus the depreciation over the time you have owned it. Although you cannot get the same price you paid to buy your vehicle, there are certain ways to get the most return possible. Here is a list of tips to protect the resale value of your car.
1. Buy a Car with High Residual Value:
High residual values help to maximize your return when you need to sell your car. You should understand how much your vehicle will depreciate, so do a little research on which cars and models have the highest residual value. A residual value means the vehicle retains the highest percentage of its original value. Therefore, make sure to buy a car with the best resale value if you want to maximize your return on investment. There are many ways to sell a car, and if you are interested in more opportunities to visit donedeal.com.au.
2. Drive Smart:
You should not drive recklessly if you want to avoid unnecessary vehicle damage but driving smart is more than avoiding careless driving. Keep the kilometers down by driving less when possible because it’s no secret that less mileage will keep your car’s value up. It’s better to rent a car than using your personal car for a long-haul drive. This will save your car from racking up mileage.
3. Park Smart:
Every car buyer will notice the exterior of your car first. So don’t let a dent decrease your car’s resale value. You can minimize dents, dings, and scratches by parking in a parking lot. Also, avoid parking in unsafe, disorganized, and tightly packed parking areas. Ensure that there is enough space between your car and other vehicles. Parking too close to another car can increase the chances of accidental bumps and swipes when backing out of a parking spot. If possible, choose the garage, underground, or covered parking to protect your car from environmental factors that can stain its exterior.
4. Fix Dents and Dings Right Away:
Dents and dings will happen if you drive and park your car carefully. Don’t let dents and dings slide by! Repair them as soon as they happen. Get a dent fixed right away because one can lead to another and you may end up with a lot of repairs when it’s time to sell your car. A dent repair technician can easily and quickly repair a dent for less than a couple of hundred dollars.
5. Safeguard Areas Prone to Wear:
The front end of your car like bumper and bonnet are more vulnerable to wear and tear. Luckily there are many affordable things available to protect those areas of your car. You can get a clear plastic applied to your car’s front end at an auto body shop. Another option is to add a vinyl wrap or carbon fiber tape to other high-wear parts such as door sills, ahead of the rear wheel, and the top of the rear bumper. Therefore, you can simply remove the tape or clear wrap when you want to sell your car.
5. Wash and Wax Regularly:
In order to maintain a flawless finish, wash and wax your car regularly so it can make a shining first impression on a potential buyer. It’s recommended to wash your car twice a month. Swirling and tumble car wash are abrasive on your car’s exterior so opt for a touchless car wash or wash it by hand. Also, wax 2 to 3 times a year to keep your car sparkly. Its good idea to buff out small blemishes to avoid fading and remove materials and dirt adhered to the surface.