The world of driving is made up of two types of vehicle owner: the ones that drive their car until it stops, then buy whatever they can afford and is practical, and the ones that like to change things up now and again.
If you have had a change of circumstances which means you need to change your car, or you just like buying new cars, by getting the best price for your existing vehicle, you will have more to spend on the new one. Here are our top tips for keeping your car value while you own it.
Regular maintenance and servicing
One of the most critical factors in maintaining car value is upkeep. Regular servicing, ideally with a trusted and reputable mechanic, helps keep the car in top condition and reassures potential buyers about its reliability. Following the manufacturer’s service schedule ensures that key components like the engine, brakes, and transmission remain in optimal condition, which can significantly impact resale value. Try to keep records of all services and repairs as proof that the car has been well-maintained.
Model and specifications
Some car models hold their value better than others, with factors like brand reputation, reliability, and fuel efficiency playing a role. Similarly, cars with popular specifications, such as fuel-efficient engines, high-tech features, and essential safety equipment, generally hold their value better than those with limited appeal. If you know that you are likely to be selling your vehicle on, don’t just think about what you want, but take a minute to consider future sales opportunities.
Mileage
Mileage plays a major role in car depreciation. In the UK, cars with lower mileage are often more attractive to buyers, as they are perceived to have less wear and tear. To help preserve value, owners should avoid unnecessary long trips and consider alternative transport for routine travel.
Avoid unnecessary modifications
While modifications like custom wheels, aftermarket sound systems, or performance enhancements may seem appealing, they can impact resale value. Buyers often prefer original specifications, as they associate modifications with potential reliability and insurance concerns.
Timing is key
Timing can be crucial when it comes to maximizing resale value. Certain car types, such as 4x4s, may be in higher demand in winter while convertibles and camper vans may be more desirable in summer. Understanding these seasonal trends can help you to sell your vehicle when demand is highest, fetching a better price. Monitoring market trends and staying informed on economic conditions—like fuel price fluctuations or tax incentives on eco-friendly vehicles—can also guide owners on the best time to sell.
Preserving car value in the UK involves proactive care, strategic choices, and a little foresight. By committing to regular maintenance, choosing models with good resale reputations, minimising mileage, keeping the car in top physical condition, and being mindful of market conditions, car owners can maximize their vehicle’s resale value, ensuring they get the best return on their investment. If you want to invest in a new vehicle or sell yours, take a look at trusted car dealerships near you. For more advice, follow us on Facebook or X.