Fighting Depreciation - How To Maintain The Value of Your Car

By: Phil Adams-Wright

Buying a new car is an exciting time; getting to drive the car off the forecourt, enjoying the famous "new car" smell and taking to the open road. Whilst it's all good fun when you first buy your new car invariably you will one day in the future find yourself needing to buy another car. This could be only a few years or even longer depending on the condition or simply that you like the look of another model.

The trouble with this though is that when you come to sell your car you're likely to receive quite a shock as to how much your car is worth compared to what you bought it for; this is what's known as depreciation. Over time a new car will lose value but there are some ways in which you can try to limit these so that when you eventually sell your car you will get a fair price for it.

Limit your use to lower your mileage.

Cutting back on the use of your car can help keep some value through having a lower mileage. When buying a car many buyers will prefer cars with lower mileages as they have been used less and are likely to be in better condition than one that has been driven a lot.

Have frequent services / maintenance checks to ensure that your engine is in tip top shape.

Making sure your car is regularly serviced as well as doing a few tasks yourself means your car's engine is going to be in better shape and not likely to have any problems in the future. Ensuring your engine's oil is topped up and other checks can help keep the engine running smoothly between services.

Keep an eye out for paint scratches or dents.

Once a month or so take time to give your car's bodywork the once over. Checking for any chips from stones flicked up on the road as well as any dents (and even caked on dirt) means you'll be able to get them seen to before a potential buyer spots them and starts knocking pounds off the asking price. Small paint "touch up kits" are perfect for minor scratches and are relatively inexpensive.

Keep the interior clean and don't smoke inside your car

A clean interior is something many buyers look for, so clearing out any CDs, fast food litter and other rubbish will mean your car is clear of clutter for viewings but also vacuuming the inside or using valet products can help restore the upholstery. Smoking in a car is a huge depreciation accelerator; smoking in your car can damage upholstery with burn marks, can discolour light coloured cloths and leave a lingering odour.

A professional clean should remove most smells or stains but it is a good idea in general not to smoke whilst at the wheel.

These are just a few tips on maintaining your car's value; there are many other tips such as obviously driving smoothly, not over-revving and driving aggressively which may burn out your tires quickly. Over all the main advice for drivers with new cars is to look after them, as you never know, in the future you may want to sell the car and want it to hold on to as much of it's value as possible!

About the Author

Phil Adams-Wright is an experienced online writer covering Car finance, car credit and Used car loans