Key Takeaways
- Retaining car value can be challenging, especially if you are a high mileage user.
- Your car loses value if you don’t follow basic maintenance measures.
- Scheduling frequent maintenance and repair and keeping a record of all visits to the dealership helps.
- A professional dealership is your best bet to get a reasonable price for your car sale and retain its value.
Whether you’re driving a beat-up old clunker or a brand-new luxury vehicle, keeping your car in good condition is essential. Regular maintenance makes your car look nicer and last longer, but it can also help retain its value. Here’s how to protect your ride from everyday wear and tear that can damage it over time.
How Does a Car Lose Its Value?
Over time, all cars go through the same depreciation process. Though some models hold their value better than others, every car will lose a certain percentage of its original value each year.
- The minute you drive your new ride off the dealer lot, it begins to lose value. Some estimates suggest that a brand-new car can lose as much as 20% of its value in the first year of a car sale alone! There are several reasons for declining value, but the two primary ones are (a) because cars are considered a “used” commodity as soon as they’re driven off the lot and (b) because most new cars begin to experience wear-and-tear immediately.
- Throughout the years, technological advancements have resulted in models becoming outdated relatively quickly. For example, a 2022 model might have features that aren’t available on a 2020 model. As newer models are released with updated features, the older models become less desirable and therefore lose value.
- Older cars require more maintenance and repairs. This is partly due to normal wear-and-tear, and parts begin to break down and need to be replaced. Of course, these maintenance and repair costs come out of your pocket, further contributing to the loss of value.
- The final reason why cars lose their value is simply because of supply and demand. When there are more used cars on the market than there are buyers for them, prices go down. This is Economics 101!
How to Protect Your Car’s Value and Get the Best Return When You Sell?
Whether you’re upgrading to a newer car model, or simply downsizing your life, selling a car is a process that requires some preparation. Taking the proper steps to protect your car’s value will pay off later when it comes time to sell.
Tip #1: Get Regular Maintenance and Keep Records of All Services Performed
Regular maintenance means changing the oil regularly, getting tune-ups as needed, and keeping track of when services are performed. Keeping records of all services rendered will show potential buyers that you’ve taken good care of the vehicle and help them feel confident that they’re making a sound investment.
Tip #2: Drive Carefully and Limit Exposure to Harsh Weather Conditions
Another way to keep your car in tip-top shape is by driving carefully and avoiding exposure to extreme weather conditions whenever possible. Harsh sunlight, for example, can cause fading and discoloration over time; salt from cold weather can lead to rusting and deterioration. Being mindful of how and where you drive your car can prolong its lifespan and maintain its value.
Tip #3: Keep it Clean, Both Inside and Out
It’s no secret that people are more likely to buy something that looks appealing. This rule also applies to cars—a clean car is a more valuable car. To ensure your vehicle looks its best before a car sale, wash it regularly (at least once a week), vacuum the interior (including under the seats), shine up the alloys, and polish the chrome. Taking pride in your ride will increase its resale value and make driving it more enjoyable in the meantime!
Tip #4: Invest in Customization or Upgrades That Add Value
If you want to add value beyond regular maintenance, there are a few modification options you might want to consider. For instance, installing a new stereo system or painting the exterior can give your car extra curb appeal without breaking the bank. Just be sure not to go for anything too drastic; after all, you want the new owner to be able to undo any changes easily if they so choose.
How does the Dealership You Choose for Vehicle Maintenance Influence Your Car’s Value?
When you’re ready to sell your car, you want to get the best price possible. But did you know that the dealership you choose for vehicle maintenance can impact your car’s value? That’s right; taking your car to the dealer for service or going to an independent shop can make a difference come sale time. Here’s how.
Dealer vs. Independent Shop Maintenance: Which Is Best for Your Car’s Value?
When it comes to maintaining your car, you have two options: taking it to the dealership or an independent shop. Both have pros and cons, but which one’s better for your car’s value? Let’s take a look.
The Dealership Advantage
The main advantage of taking your car to the dealership for service is that you know the work will be done by qualified technicians using genuine parts. This is especially important if you have a luxury vehicle or one that is still under warranty. However, this peace of mind comes at a price; dealer services are typically more expensive than those offered by independent shops, but you get a job well done.
There are also fewer instances of getting scammed or hoodwinked into a sub-par service. You are guaranteed a solid job, and the auto technicians ensure your car’s value is retained till the end.
So, which should you choose—the dealership or an independent shop? If cost is no object and you want peace of mind knowing your car is being serviced by qualified technicians using genuine parts, then the dealership is the way to go.
By following a few simple tips and keeping up with your car’s regular service schedule, you can protect your wheeled investment and retain its value for years to come. York Dodge, serving Prescott, AZ is here to help you every step of the way; our teams of auto experts are dedicated to providing top-notch service that will keep your car running like new.
Schedule a service today, and let us take care of everything!
Connect with us
