Reducing Car Depreciation – Retain Value For Stronger Resale

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It’s an open secret that once you drive a car off the lot, it loses a significant portion of its resale value. In fact, the instant a car has been classified as “pre-owned,” it’s going to be a lot more difficult to sell, not to mention get an equitable amount of money out of it.

Car lot with new and used, under flags.

In this way, cars aren’t exactly like other pieces of property like homes. With real estate you can expect your investment to appreciate over time, given the right market. If you’re going to maximize the resale value of your car, you’re going to have to know some very specific tactics and techniques that will make your car a more appealing purchase for buyers. Let’s take a look at some ways you can reduce car depreciation and retain the most monetary value possible with your current car.

Regular Upkeep

Don’t get lazy about maintaining your car. It’s often easy to let things go, as there is often a drain on your wallet these days, but this is something you should not overlook. After a home, your vehicle is the second greatest expense for most people over their lifetime.

Get your fluids checked and changed regularly to keep the engine properly lubed and cooled. Keep your tires rotated regularly and inflated to the correct pressure so the treads remain on the tire for as long as possible. Get your transmission and brakes serviced just as soon as you notice any noise or reduction in performance.

A Ferrari rim, tire, and brakes.

If you cannot park your car in a garage, get a car cover to protect the paint. At the very least, obtain a visor to reflect heat back out the windows if you must park facing the sun for extended periods. The dash can warp and fade and become a death-knell to resale value.

Wash the car regularly, especially if you live in an area that has salt from roads that are treated for snow and ice, or if you live near the coast where salty air can do a number on your metals. If you get a chip in your paint, take care of it right away.

Consider treating your carpets and seats to protect them from stains. If you like to travel with your pets, there are wonderful covers you can put over your seats that will remove the potential damage of dirt, hairs, and tears in the fabric.

Window Tinting

Although many parts of your car are likely to depreciate in value as they face more miles, the windows are an exception. In fact, you can maximize the value of your windows by utilizing legal window tinting.

Station wagon with tinted windows.

Window tinting has a number of benefits. You can reduce the amount of the sun’s rays that come into the car. It can keep the inside of your car at a milder temperature during the summer months. In fact, many people believe the added strength provides a measure of safety in that it can possibly protect your family from glass debris in the event of a crash.

Classy-looking, darker windows are a valuable add-on that will help your car not only to retain value, but to add another strong “sales point” you can use when advertising the car. Make sure that the degree of window tint is compliant with the laws of your state and you will have on your hands a car that is much easier to sell.

Interior Upgrades for Improved Value

In addition to beautifying an improving the function of the windows of your car, you’ll find there are a few other upgrades that will help you boost its resale value.

Many car restorers, for example, will re-upholster the seating in order to give a shot in the arm to the car’s value. Replacing old or worn-out upholstering with fresh – and even a little bit fancy – upholstering is a quick way to change the entire interior of the car into something much more valuable. Installing leather seating, for example, can do a lot to enhance the profile of the car you’re trying to sell.

Classic Rolls Royce on display.

Some people believe in stalling a sun/moon roof will also increase the car’s value, though it’s important to do a cost-benefit analysis to ensure that your investment is worth the price you pay for installation.

There are a lot of ways to enhance a car’s value if you have the resources and ingenuity to see potential in your vehicle. From easy upgrades like window tinting to the more involved installations, there are always solutions you can try in order to get your car to sell faster – and for more money. Car depreciation that puts you in a state of shock doesn’t have to be inevitable; you can always fight back to get a better resale price.

Featured images:

Meg Jones works with Joe’s Stereo in sunny San Diego where the beaches call with tantalizing breezes and the sun and salt can do a number on your car.

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This article was submitted by a guest blogger.  Guest blogging provides an avenue to share a variety of different points of view with a broad audience.  It is a good way to share cumulative knowledge as well as introducing readers to a new author.  Learn more about how to become a contributor for Riches Corner.

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