Maximizing your car resale value

Car value will depreciate straight when it is out from the showroom. However taking care of your car well will reduce your losses when you sell, or trade it later on. Below are some tips to help you maximize its resale values.

1. Buy a car with higher resale value.

Analyze before you buy. When you are in the market for a car, bear in mind that some types of car simply hold their resale value better than others due to a number of factors. You may find it beneficial to consult current reports reflecting which vehicles have been found to hold value best, and keep this information in consideration when shopping for your next vehicle.

2. Drive safely.

Avoid getting into a accident, as any history of collision damage can reduce your car's resale value, and a trained used car appraiser can spot the body work from a mile away. If your car is in a collision, use an experienced repair shop with a good reputation, and insist on using OEM factory parts.

3. Maintain your car well.

One of the most important things you can do after purchasing your car is to keep a regular routine maintenance schedule. Fix any problems as soon as they arise, and keep a well-documented history of all services performed by technicians.

Having your car serviced at dealerships will ensure a future buyer that the vehicle was always maintained by certified mechanics. Use your warranty to your advantage, and be sure to quickly replace any interior or exterior parts that have been broken. A well maintained vehicle is a rare find and significantly increases its value.

4. Keep it as original as possible.

Adding accessories can actually decrease the car value. Besides, you do not get to charge the buyer for the extra items, and will have to spend more to remove the parts later on if you do not want to pass them to the new owner. Anything that you permanently modify may make your car more difficult to sell. If you add window treatments, be sure that they meet the legal standards.

5. Use original and brand name parts in your car.

Original or quality brand name parts last longer and usually come with a warranty. prospective buyers will be more likely to recognize the brand name parts and this added credibility increases the value of the car.

6. Keep it clean.

If a car looks neat and taken care of, potential buyers will assume the car is more valuable. To keep the exterior of your car in mint condition, you should wash and wax it often. You can also use a custom car cover to protect the paint job and your investment. A car cover made specially for the make and model of your vehicle, will keep it protected form harsh elements and the weather.

7. Protect the interior.

Properly caring for the interior of your car will not only keep it looking new for you, it will also increase your chances of obtaining the best resale value for the vehicle when the time comes. Caring for the interior of a vehicle involves keeping it clean and protected.

Refrain form habits such as eating in the vehicle, which can lead to stains and odors. You may want to take cleaning a step further and apply protectant to the hard surfaces to protect against damaging UV rays.

Taken from: News Straits Times - 29 September 2012 (article), Google (images).