We all know that the minute you drive away your car from the dealership or the showroom, its value plummets! But you’ve just spent a bomb on it, obviously you’re hoping that it retains its value and maintains its showroom gleam for as long as possible. Here’s some simple ways that you can keep your car in tip top shape through the years of ownership.
Parking & Driving:
Where you park your car makes a very big difference to how your car keeps its gleam and its shine! Who or what you park next to can mean the difference between dinged up doors and bent side-view mirrors – park away from cars where possible or pick corner parking lots when you can. If you can park in the shade, you might be able to save your paint and interiors from sweltering in the heat, but watch out for birds in the trees if you don’t want their droppings to eat into your detailing!
Be careful to drive without over-revving your engines and try to keep your mileage down if you can. It’s not only good to do your part for traffic and the environment, but cars with lower miles on the speedo are bound to fetch a better price and help it to retain its value.
Maintaining your car well is also a good way to help retain its value. That means regular servicing when it reaches its mileage checkpoints and ensuring that any issues with the car are looked at as soon as possible before they get worse! Keeping a log of your washes and oil changes, car tune ups and tire swaps can provide proof of the upkeep of the car.
If something does happen to the car such as an accident or crash, unfortunately value is more likely to stay low, but again, get it checked out and fixed at a licensed and reputable workshop to get body work and repairs done. Even fixing chips in the windshield, cracks, scratches and dings in the paintwork or having your windshield wipers regularly cleaned and swapped out can make a difference!
Manage your Financing Plan
Understand how the finance for your car works and what are the implications of the various rates, payment schemes and other terms and conditions on your car – this can definitely help you manage some of the more immediate financial issues of owning a car. Most importantly, keep your payments on time and regular so that you don’t have your credit score affected too. You can also look at refinancing when the time is right. This can not only help you save some money and give you a lower monthly repayment rate will make the car more attractive if you are selling it off too.
While it’s unavoidable that the value of a car drops once it’s sold, we can do our best to make sure that you do what you can to keep the value of the car up as much as possible! You can find out more about your car, financing it and maintaining it from The Smarter Finance Company.