It is a known fact that a car always depreciates in value. However, committing certain mistakes may reduce the value of your car more. Here are 5 ways you may be reducing the value of your vehicle, unknowingly.
- Having high mileage on your car - You might have to drive for long distances to go to your office, or you might like to go for long drives. However, this might lower the value of your car. This is because high mileage usually lowers a car’s value. Therefore, if you want to sell your car at a higher price, then try to not drive more than 10,000 to 15,000 miles per year than the recommended mileage. High mileage might push the car out of the warranty given by the manufacturer, which in turn, will reduce your car’s value. Therefore, to go on a vacation, you might think of renting a car of your choice.
- Opting for an uncommon color for your car – You might want your car to stand out in the parking lot, which may make it easier for you to locate your car. However, painting your car with an uncommon color may reduce the value of your car to the future buyers. This is because, not everyone will want a car that is painted yellow or green. It is a well-researched fact that people usually like to buy cars with generic colors, of which silver and white top the list. Therefore, think twice before you opt for an unusual color for your vehicle.
- Not maintaining your car regularly – If you are thinking that car dealers cannot make out whether or not you had maintained your car regularly, then you are wrong. You should always make oil changes and other maintenance work, on time. It is better for you to know that a good technician can check the brake fluid, engine oil, etc. and can make out whether or not the oil changes were done on time. Along with it, always keep all the receipts of the maintenance work you had done, so that you can produce them when you want to sell your vehicle.
- Not taking your car for wash at regularly – A car which looks good automatically increases its value. Washing your car is as important as changing the oil at regular intervals. You should wash your car regularly. Moreover, there are certain coats which can save the vehicle from harmful damage of severe weather conditions. It is better to wash your car once in a week or once in two weeks depending on where you live and the weather conditions and you should give wax coat once a month.
- Smoking cigarettes in the vehicle – People usually do not like to buy a car which smells cigarette or has pet smells. You might not know that these smells usually linger in the car for long and it comes to immediate notice of a person who is not accustomed to such smells. Moreover, the upholstery often absorbs such smells which is difficult to get rid of. So, try to not have any stains and smells in your car and neutralize the smells, if there’s any. Also, if you carry your pet in the vehicle, then remove pet hair before you try to sell the vehicle.
Along with above, try to not make modifications which do not go with the standard features of your car. This is because a person selecting a car will usually want the features that come along with it. So, follow these tips so that you can get good value for your car, which in turn, will help you maintain your financial standard.