Some people think of a car as an expansion of themselves. Others look at a car as just a means of transportation. Regardless of the way you view an automobile, it’s important to maintain the value of your vehicle.
The trouble is that while many assets may depreciate slowly over time, automobiles tend to drop in value as soon as you drive them off the lot. That’s the unfortunate reality of owning a vehicle. While the amounts of depreciation may vary by the model and the year of production; a car may lose about 20% of its value during the first year of ownership. That being said, several factors can affect a car’s depreciation rate. Addressing these issues early regardless of if you plan to sell your vehicle is also helpful for the longevity of the car.
For example, bringing your car in for regularly scheduled maintenance helps keep the automobile running well and catches issues before they become serious and impact the value of your car. You should pay Janitorial Cleaning Services Insurance attention to the mileage of the vehicle. The more miles accumulated, the more the resale value is affected. The average annual mileage is 13,500 miles according to the Department of Transportation.
Cleaning your car regularly also boosts the resale value of your car, as you remove stains and other issues that could become permanent. The same applies to the exterior of the vehicle. Washing regularly to remove dirt and grime and fix even minor dings immediately will have a positive impact on the value of your car. Consider also storing your car in a garage whenever possible.
When you decide to sell your vehicle, it will also be helpful to have all the documentation on hand. This includes keeping records of maintenance and repairs. This will demonstrate that you’ve taken good care of the car and could help maintain a higher resale value.
Lastly, your driving habits tend to impact the condition of your vehicle. Aggressive driving can stress the engine and increase your risk of getting in a crash, which negatively affects its trade-in value. For more information and tips on increasing the resale value of your car, make sure to check out the infographic below.
Courtesy Of Chrysler Factory Warranty