Not all cars come with the ability to retain their value over a long period. Some new cars are great products but they lose a huge part of their value as soon as they’re driven out of the dealership. On the other hand, there are some cars that go on to become great ‘investments’ as neither their age nor the kilometers on the odo seem to affect their value. But these aspects are not in the owner’s control, are they? What is in your control is the way you drive and take care of your car, and that has a considerable effect on the used car price of your vehicle. We look at five such things, in our pursuit to find five ways that let the owner enjoy his/her car to the fullest but without having to deal with a lowered resale value.
Make No Irreversible modifications
Modifying a car is one of the first things that come to owner’s mind once she/he gets bored of the vehicle in the current state, or thinks that it can offer more performance/efficiency if the said modification is carried. The problem with modifications is that too much time and effort put into one means the value is likely to go down, unless we’re looking at the specialist market. In the mass market, if the modification is reversible – that is you can unscrew a new nuts and put original parts on – it won’t be a big deal, and the value isn’t likely to be hit by it.
Read more about the car pictured above here.
Image courtesy: Mumbai Mirror
Bolt-on performance additions
Modifications that help you revert your car to stock when needed is always a good idea. Instead of modifications that make returning the car to its stock glory an arduous task, opt for upgrades that improve the vehicle’s performance but that can be exchanged with stock parts, as and when needed. Air filters, ECU remaps, bolt-on bodykits are some examples.
Paint and Bodywork
Rust is one of the biggest reasons why cars lose their value. Timely anti-rust treatment and taking care that moisture doesn’t accumulate can help you have a sparkling vehicle and one that retains its value, too. Same goes for the bodywork. Stone chips, kerbed wheels and irregular paintjobs can effectively ruin your car’s appeal and depreciate its value by a few thousands. Detailing and paint protection will also help retain the value.
When in doubt, stick to popular modifications
Another thing that must be kept in mind while adding options (retrofitting them) is that the popular ones work well always. These added options won’t just make the ownership better, they will also be one of the attractions for the prospective buyers once your car is in the used car market.
And let’s not forget:
Maintain a service history
The concept is fast catching up. Buyers are now asking sellers to give a full service history (FSH) of the vehicle, including maintenance and insurance documents. Some dealers and used car portals also conduct stringent checks before accepting any used car. So, it’s always an advantage to have the vehicle’s record with you. Also, when everything is documented, expecting a premium (even the littlest of it) over the market rate is acceptable.