NEW cars start depreciating in value the moment they leave the showroom floor, which is why maintaining its value should be a priority.

There are a few practical ways of avoiding a larger than necessary financial loss when reselling your car privately or trading it in.

As simplistic as it sounds, the best way to preserve your car’s value, is to take care of it. By avoiding bad driving habits, you can effectively maintain your cars’ original pristine state a lot longer. Here are a few tips to assist you in doing this.

Defensive Parking

Scratches and dents are going to happen, but with a more defensive parking strategy, you can minimize them.

When you park, try to find an empty slot away from other vehicles. Avoid parking next to a corner where other vehicles may hit your car as they turn.

If you have to parallel park, try to get a slot at the end of the row. Parking your vehicle in a lock-up garage will adequately protect it from environmental damage, and in addition to this, you will likely receive a significantly reduce your car insurance premiums.

Keeping Mileage Low

If you keep your car’s mileage down, you are preventing wear and tear on your vehicle, and you will ultimately be able to resell it for a higher value.

Ultimately, you could consider the benefits of arranging a carpool with your colleagues rather than increasing the mileage on your vehicle or you could avoid long trips where possible.

As used vehicles with high mileage will have a much lower trade-in value you should take care in driving your vehicles only when necessary.

Regular Maintenance

While you may not be able to prevent minor bumps and dents, you can take pride in the appearance of your car with proper maintenance. Be sure to fix any dents as soon as possible as they could potentially lead to unsightly rust, which can be quite costly in the long run. Keeping your car in pristine condition is essential for its value. In addition to regular maintenance, it would be wise to keep the interior of your vehicle as clean as possible. 

Leasing A Vehicle

The concern of owning a vehicle that is continuously depreciating in value can be daunting for many drivers. However, the solution of leasing would ultimately remove this aspect from your daily life altogether.

While you would not only be able to take advantage of the significant savings associated with the best car lease deals in comparison to vehicle finance, you would also be able to drive a brand new car regularly.

Leasing a vehicle would allow you to drive your dream car without having to worry about astronomical maintenance costs either as this aspect is usually included in your monthly fee.

What’s more, you will most likely have the option of purchasing the vehicle at a lower price once your lease term period comes to an end.