Maintain Your Vehicle’s Value

Buying a vehicle can be one of life’s biggest investments (second only to buying a house), so it makes sense to protect that investment. But deciding how to best maintain the value of your vehicle can be difficult, as there are so many different aspects to consider.

Most of us have heard that keeping your vehicle clean and getting it’s scheduled services are very important. But are there more specific things we can do as owners to best preserve our vehicle’s worth?

Researching the advice of reputable sources, it seems there is! Out of the many things you can do to upkeep your vehicle, there are 3 main factors that determine your vehicle’s value, along with specific practices that consistently top the lists:

  1. Exterior Condition

Kelly Blue Book (kbb.org) states that a thorough washing and waxing on a regular basis will help maintain the quality of a vehicle. Additionally, according to Jeffrey Webb of Turtle Wax, Inc., waxing at least twice a year is recommended for maximum protection.

And if you’re trying to maintain the value of your car, cheapism.com recommends you leave certain jobs to the professionals. A do-it-yourself job is easy to spot and doesn’t always look pretty. Additionally, carcare.org reports that more than one-third of car owners use damaging non-automotive products that could contain harmful detergents, abrasives and additives.

  1. Interior Condition

Cashmoneylife.com elaborated on the importance of not only keeping the interior clean, but to you clean spills soon after they occur. If you allow spills to stay on upholstery or carpets for weeks or months, they can go to the point of no return and become full-blown permanent stains.

A one-time investment of $50 – $100 for seat covers was suggested by kbb.org as another way to help maintain the quality of the interior cloth or leather seats.

  1. Mechanical Upkeep

Getting regularly scheduled services is important, but that’s just part of it — kbb.org posted that saving receipts and being able to provide a verified history of maintenance often helps maintain the vehicle value. Keep track of anything that demonstrates long-term vehicle care, including car washes, oil changes, tune-ups, tire rotations, etc. Investopedia.com recommends saving these records all together in a special folder.

How much difference can these extra steps actually make long-term? Kelley Blue Book’s Executive Editor, Charlie Vogelheim, stated, “If a consumer puts a little time and care into their vehicle, depending on the make and model, there could be up to a $1,000 difference in the car’s value down the road.” So, vehicle owners, it’s worth it to protect that investment! ♦

By Amber Foley – January 25, 2016

 

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