Whether you drive a brand new car or a second-hand one, your vehicle is an investment. It costs you money to buy, tax, run, insure and maintain. You might be planning to run your vehicle into the ground, or you may have plans to trade in or sell your vehicle at some point in the future. Whatever your plan, it is wise to maintain the vehicle value as much as you can. This will help it to keep running for longer and help you to optimise resale value.
Here are a few things that you might be doing that could seriously affect your vehicle’s value.
Smoking
Smoking isn’t just bad for your body, it’s not great for your vehicle’s value, either. Regular smoking inside the vehicle can stain the upholstery and become so ingrained that it is impossible to remove. What’s more, the smoke can get into the air conditioning and ventilation systems, leaving a lingering smell that will be impossible to get rid of without significant professional intervention. It is hard to sell an ashtray on wheels and a vehicle with serious signs of smoking can reduce your resale value by up to £2,000.
Skimping on parts
Buying unbranded parts or opting for the cheapest possible spare parts may save you money in the short term, but long-term it is a false investment. Cheap tyres or refurbished parts won’t necessarily last as long, which means that you will have to replace them sooner. What’s more, if you fail to replace parts with branded equivalents, if you come to resell, your vehicle will be worth less.
Regular servicing
We’ve all heard the salesman’s golden quote: “a full service history and one careful elderly owner.” Well, it’s a classic sales line for a reason. A good service history doesn’t just give prospective owners an indication of any potential issues with a vehicle, it shows that you are a careful owner yourself, and that you have taken good care of the vehicle while you have had it.
Niche “upgrades”
Garish colours or "eye-catching" alloy wheels may be your cup of tea, but could put off potential buyers. If your preferred colour is an acquired taste, stick to expressing it in temporary statements – upholstery covers or temporary stickers, and keep your vehicle the original colour. It may seem boring now, but you will be grateful for your self-constraint if you come to resell.
A good valet
Generally, a clean car is a happy car and, just like the service history, a clean car implies that you have taken good care of your vehicle. If your car needs a little tlc, get it professionally cleaned before you attempt to sell it. Treat your car to the deluxe valet and it will come back looking – and smelling – as good as new.
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