If you are a car owner, or plan on becoming one soon, perhaps down the line you will want to sell or trade-in your vehicle. If so, you’ll want to get the most money back for your vehicle, and there are many measures you can take while you still own it to ensure this outcome is possible.
In order to help you accomplish this, we have put together a list of 3 easy ways you can protect the re-sale value of your vehicle:
1) Regular Vehicle Maintenance
While new vehicles won’t initially require much in terms of repairs, you’ll want to make sure you keep it regularly maintained – not just when it is absolutely necessary. For example, getting regular oil changes and tune-ups to ensure the vehicle continues to run smoothly.
In addition to maintaining the engine, and other components ‘under the hood’, you also want to keep on top of the appearance and quality of the interior of the vehicle. With proper care and cleaning of the interior cabin – such as maintaining the fabric & leather, and the consoles and compartments – you can keep the vehicle looking as good as new.
2) Keep Maintenance Records
In addition to regular maintenance of your vehicle, you should also keep record and documentation of the exact maintenance the vehicle has undergone. Even if the maintenance seems minor, like oil changes and regular tune-ups, - you will still want to keep receipts and documentation.
The reason to keep maintenance records is because it proves that it has been kept in strong working condition for the duration that you owned it. Even if the car has been maintained, without proof potential buyers may shy away from purchasing your vehicle.
So don’t take a chance, hang on to all records pertaining to the maintenance of your vehicle, as this can help you obtain a higher re-sale value in the future.
3) Protect Your Vehicle While Driving
Another way you can protect your vehicle’s re-sale value is to be a safe driver. You have probably heard the term ‘defensive driving’ and this approach can help to minimize dangerous driving situations, and in turn protect your car from being damaged.
If instead, you adopt an aggressive driving approach, this can mean more wear and tear on your car, and even the occurrence of accidents. For vehicles that have been involved in a collision of some sort, this can derail re-sale value rather substantially. Also most potential buyers would rather purchase a vehicle that has never been involved in an accident.
As you operate your vehicle, remember these tips so you can preserve the re-sale value of your vehicle - so you can get the most back for it should you decide to sell it in the future.
If you are thinking about buying a new vehicle, or trading in your current one, you may be considering your options for a vehicle loan. At Canada Drives we make it easy for Canadians to get a car loan, regardless of their credit score. It’s simple, all you have to do it tell us the type of vehicle you want, what you can afford and we will pre-approve you for a loan and match you one of our local dealer partners who has vehicle waiting for you to come and view. You fill out a quick online application here, or contact us and we will help you get the car loan you need.