By Eric Schad
According to Edmunds, a new car loses 9 percent of its value as soon as you drive off the lot, and up to 19 percent of its value after only a year of ownership. Because of the crippling effects of such a loss in value, many consumers are turning to used cars for their vehicle purchases. However, just because you have a used car doesn’t mean you can’t retain the value if you ever want to sell it in the future. Follow these easy tips to maximize the value of your used car.
1. Don’t Smoke In It
If you smoke, wait until you get to your destination or pull over to light up. This includes cigarettes, cigars, and vapes. Even if you think the vanilla cinnamon aroma is pleasant, that doesn’t mean everyone will. Less and less people are smoking cigarettes or cigars to boot, making a lingering tobacco odor even more offensive. If you have to light one up, try to do it outside of the vehicle.
Photo by dreamstime
2. Limit the Mileage
Another way to retain the used value of your vehicle is by limiting the mileage. It’s one of the defining factors of car price, and the more you drive up the odometer, the less the car’s worth. If possible, consider alternatives when traveling. This could mean using public transportation, riding a bike, or even taking an Uber. Instead of tallying more miles, you can get some exercise or let someone else rack up the mileage.
Photo by dreamstime
3. Take It Easy
One of the greatest temptations behind the wheel is to drive your car like you’re reenacting the car chase scene from “Bullitt.” Even if you have a high-performance car, this isn’t the best idea. Sharp turns, rapid acceleration, and hard braking all put unnecessary wear and tear on your vehicle, lowering the value in the process. Plus, it’s a foregone conclusion that you can never be as cool as Steve McQueen.
Photo by dreamstime
4. Detail Your Vehicle
Detailing your vehicle keeps it looking great both inside and out. However, you don’t have to spend hundreds or thousands of dollars to achieve this look. Instead, schedule a certain time each month to clean the interior and exterior of the vehicle. Make sure to get the right cleaners for each surface of your car’s interior, as well as the best soap or wax for the exterior. Maintaining a schedule for cleaning goes a long way to preserving value and giving your car an aesthetic that’s pleasing to you and potential buyers.
Photo by dreamstime
5. Keep Up With Maintenance
When you stay on top of vehicle maintenance, not only do you lengthen the life of your vehicle, but you also save money and retain value. Tune-ups and other regularly scheduled maintenance catch problems before they get out of control or even more expensive. Oil changes fall into this category, and heading to the mechanic for an oil change every 3,000 to 5,000 miles allows the engine to run smoothly.
Photo by dreamstime
When it comes to maintaining the value of your car, it isn’t necessarily difficult. Instead, it takes a commitment, vigilance, and a bit of discipline. If you manage to do each of these tasks, your car and your wallet will thank you.
