There are few things in the world that depreciate as much as car value. Almost any other item you can purchase will retain more value for longer.
Car value begins to decrease as soon as you drive it off the lot!
According to the latest data, the value of a new car or truck will drop by 20% within the first year of owning it. After that, it keeps dropping an average of 10% per year for the next four years.
When you own something, be it a car or anything else – you want to to stay in the best condition, and keep as much value as possible for as long as possible.
Tips for Maintaining Car Value
Here are a few of the best tactics for keeping that vehicle in the best possible condition.
Protect the Exterior: If you have a garage or a carport, keep your vehicle in it whenever possible. Any way you can keep the car out of the elements and weather, the more it will help. If you do not have a garage, try using a car cover. Waxing the car every once in a while will help, as well.
Don’t Smoke: In general, smoking is bad for your health. Smoking inside your car allows the smell to permeate the vehicle itself, and lowers the value.
General Maintenance: Have regular tune-ups and oil changes performed, this will help keep the car running smoothly and help maintain overall performance. It isn’t just about keeping the car LOOKING good, it’s even more important to keep it RUNNING well.
Protect the Interior: Once stains set into the upholstery or the carpet, it can be near impossible to get them out. Clean up all messes as soon as possible. Safeguard against future messes by using Armor All on the dashboard and vinyl surfaces.
Take it Easy: Don’t drive the car too hard, putting extra strain on it. Stopping and starting too fast, speeding around turns, ignoring little problems – these are the things that can do long term damage to your car value.
The more value your vehicle has, the larger a title loan you qualify for!