When you have bought a car, it seems like you have lived your dream. Whether you buy a new car or a second car, it can make you feel excited as well as changing the way you commute. Since the car is a depreciating asset, you would want to make most of it. One-third of the value of the car immediately drops as it lands on the road.
Preserving the value of the car can be challenging because everything from normal wear and tear to accidental damage counts to decide its salvage value. Most of the car owners get worried about their cars? cost only when they sell it. It leaves them with a nasty taste in mouth primarily if they have used car finance in Ireland with bad credit rating.?
You have already paid a lot of money in interest, and when you thought of getting some fair amount by its sale, you got a small chunk. Though the car is a depreciating asset, it does not mean that you cannot maintain its value. There are several ways to help you preserve the value of your car.
Park it in a garage or cover it
Parking your car in a garage may not sound a good idea, but if you do so, you can protect the outer body from heat, cold, rain, hailstorm and any other form of inclement weather. If you do not have a garage, make sure that you wrap it in a car body cover.
The sun heat causes splits, cracks in tyres, and fades away the shine. It can also reduce the elasticity of your tyres. Keeping it undercover or parking it in a garage can whittle down such damaging effects. A hailstorm can damage the windshield mirror and put scratches on the bonnet. You will likely lessen the damage by covering your car or parking it in a garage.
Look out the mileage
Mileage plays a paramount role to maintain the value of your car. At the time of sale of your car, mileage is checked because it decides the salvage value. The higher the mileage, the lower the salvage value and vice-versa.
If you have two cars with the same physical condition, the number of previous owners, and sufficient paperwork, but the one has higher mileage, you will set the less resale value of that car compared to the one that has low mileage.
High mileage means high wear and tear. Tyres will likely be brittle, and you will likely face more technical issues. It will also require frequent visits to the mechanic. So, never underestimate the mileage.
Fix scratches immediately
No matter how careful you are while driving, scratches and dents can catch it up. Busy roads frequently result in it. You can ignore such scratches, but they count at the time of deciding the resale value.
Fixing such scratches and dents are no longer tough now. Various products are now available in the market that you can use to remove them. You need to spray them over the dent and give a clean wipe. They will quickly go away, and your car will look as if nothing happened to it.
Keep the record of maintenance
Undoubtedly, you have to get it regularly maintained. It ensures that your car is in good condition. If you are past the due date, your car will start to suffer from technical glitches. Routine maintenance can rectify a problem if any, and nip it in the bud. However, do not forget to have all receipts.
Paperwork is mandatory at the time of sale of the car. Make sure that you have the complete record of maintenance. It will prove that you looked after your car properly and it was not involved in a significant repair. As a result, you can avoid losing your car?s value.
Smooth driving is a must
Most of the people feel as if they are flying a plane as they get behind the wheel. They do not realise how over speed, and hard brake can take a toll on your car. Harsh brake and abrupt turns can add to the normal wear and tear, leading to a drastic fall in the salvage value of your vehicle.
Make sure that you be gentle in your car. Maintain an average speed and be consistent with it. Frequent fluctuations in the speed can increase the load on your engine. Try to avoid driving on a bumpy road. As long as you are gentle with your car, it will not only prevent it from damage, but it will also whittle down the fuel consumption.
You can easily preserve the value of your car if you do remember the points mentioned above. You have to take a few steps, and you can easily avoid having the value of your car dropped down.
As the editor of the blog, She curate insightful content that sparks curiosity and fosters learning. With a passion for storytelling and a keen eye for detail, she strive to bring diverse perspectives and engaging narratives to readers, ensuring every piece informs, inspires, and enriches.
