So you took out an auto loan and gave yourself a brand new ride. You probably already know that your brand new ride will not be brand new for long—the moment you left the dealer’s lot, that vehicle’s value depreciated by about 11 percent. It is therefore important that you try to maintain the vehicle’s value. Doing this is most crucial if like many Miami residents, you plan to buy another car in a few years and wish to trade in your current vehicle. Refrain from doing these things that seem harmless but in reality, reduce your vehicle’s value:
Smoking and eating in the vehicle
Both habits decrease a vehicle’s value, but the former causes a more significant decline. The smell of cigarette smoke in a car is almost impossible to eliminate and many people would never consider purchasing a pre-owned vehicle that reeks.
Failing to keep service records
A vehicle has a higher value if it is in good condition, and a vehicle’s condition is best proven with paperwork. If you keep paperwork that attest to the quality of the battery, tires and oil (among other things), you can easily prove that the vehicle is worth a good price.
Pimping your ride
When you buy a car, surely you will want to make it your own. You might be interested in some customization services to make your vehicle unique and eye-catching. These may seem like a good idea right now, but it will prove to be a bad one when you feel the need to sell it. Know that modifications not just compromise a vehicle’s original warranty but also make reselling it a challenge. A personalized vehicle is harder to sell because it will only appeal to a select number of buyers. So if you want more value and less trouble with resale, keep the vehicle as is.
Keeping the vehicle dirty
Think some dirt and grime won’t hurt your car? Think again. You may think you’re saving money by forgoing car wash services, but you are actually losing a lot more. A buildup of dirt and detritus may not cause significant damage to the vehicle, but it does significantly decrease its resale value.
Experts suggest keeping the car, particularly the engine bay, clean. This should be done with a wet rag and not a hose. A full detail service must be done four times a year, while a hand wash is recommended every week or every other week.
Resist the temptation to push the pedal to the metal. Your car may be new, but it will get old really fast if you drive hard. Be as gentle as you can to the vehicle and try not to be too aggressive on the road. You may need to break-in your car, but don’t do it in such a way that it will end up broken in just a short amount of time.
One way you can be gentle to your ride is by changing the oil at the right time. Don’t just assume you should change your oil after 3,000 miles. Check your owner’s manual to know for sure when to change the oil.