How to Maintain Your Car’s Resale Value
Written by DriveAxis.ca December 07, 2022
Resale value is one of the most important aspects of buying a vehicle, whether new or pre-owned. The objective is to keep as much of the value of the original car as possible, should you wish to sell or trade it in for a new vehicle in the future. It’s a simple premise - the more your car is worth, the more money in your pocket.
That being said, it’s important to understand exactly how to keep your car’s resale value high. Mostly, this boils down to regular maintenance and a proactive mindset. By exercising some discipline, you can earn a lot more on your vehicle than you originally thought.
ROUTINE MAINTENANCE IS A MUST
Every machine requires maintenance in order to function as intended, and that’s especially true of cars. These particular machines have many moving parts and pieces of technology that run harmoniously in order to deliver the best driving experience. Should a key component fail, the repairs could become costly.
Routine maintenance is designed to make sure that a car is running at peak performance, which in turn extends its lifespan and reliability. When selling or trading in your car, the buyer or dealership will want to be sure it’ll go the distance when they sell to a new customer. The more reliable and better maintained your car is, the more they’re willing to fork out for it. Regular maintenance is fairly straightforward and inexpensive (depending on the vehicle), and sticking to the schedule can mean the difference between hundreds, or thousands of dollars in your pocket.
KEEP AN EYE ON RUST
All cars will accumulate rust over time, but the severity depends largely on how well the vehicle is maintained. Canadian customers need to be especially careful of rust, given the harsh winter conditions that necessitate the use of corrosive compounds on roads and highways. Once rust sets in, it will start to spread, which can murder a car’s resale value in a short amount of time.
Thankfully, there are a number of corrosive inhibitors that can be applied to a car in order to ward off the onset of rust. It’s a good idea to treat your car (especially the underside) regularly with these compounds, especially if you do a lot of driving during the winter. While rusty wheels and brake calipers can be easily replaced with shiny new ones, that’s not always so easy when it comes to things like the vehicle frame.
PROTECTIVE PRODUCTS
There are lots of first and third-party solutions for preventing damage that can hamper a car’s resale value. For instance, protective film can be applied to the front and hood of the car in order to protect against stone chips and other debris, while heavy duty car mats can protect a vehicle’s interior from slush and salt damage during the winter months.
When in doubt, talk to your mechanic or auto body specialist for more tips on what you can do to protect your car from damage. The better it looks, the more attractive it will be for prospective buyers down the road, so make sure to go the extra mile. Usually, these proactive protections don’t cost a lot of money, which makes them a great long-term investment.
GET YOUR CAR INSPECTED
If you’re planning on selling your car or trading it in, it’s good practice to get an inspection from a licensed dealership or mechanic shop. Their job is to go over your car to make sure everything is in safe working order, from your backup lights, to your fluid levels, and the state of your car battery. This offers double-protection for both buyer and seller, and will prevent any nasty legal repercussions if something goes wrong down the road.
And, of course, a professional inspection is the clean bill of health that backs up the car’s resale value. With no hidden and costly surprises in store for the next buyer, they in turn will purchase with confidence, while you reap the rewards.
KEEP RECORDS
Having a good CARFAX report is all fine and dandy when it comes time to sell a car, but it’s not a written guarantee of quality. For instance, if you brought your car to your own personal mechanic or body shop, there may be no entry on the CARFAX report. Dealerships and buyers will immediately notice the lack of information on the report, and question the state of the car.
Of course, there’s no law that says you must go to a particular dealership or shop in order to have maintenance and repairs done. Rather, it’s advisable to go the extra mile and keep your own records of everything done to the car. Create a small folder containing a paper trail of receipts that show everything from brake replacements and tune-ups, to necessary repairs, etc. The buyer will simply want a record of what was done to the car, to make sure you’ve kept it in good shape.
CONCLUSION
Are you ready to sell or trade in your car for a new model? If so, DriveAxis.ca wants to hear from you. We’re a one-stop shop for quality pre-owned vehicles, and if yours is in great condition, we’ll gladly honor a higher resale value so that you can walk away with more money in the bank.
Or, alternatively, you could put that money towards a newer car from thousands in our pre-owned vehicle inventory. We’ll even take care of the financing in-house, if you need a bit of extra cash to complete the sale. Whatever your preference, you shouldn’t let your car’s resale value go to waste. Cash in while the getting is good!
