4 Key Tips to Maintaining Your Car’s Value 

You want to care for your car, regardless if you plan to resell it in the future or not. However, if you do plan on selling your car in the future or trading it in to get a new vehicle, you’ll want to retain your car’s value to get the most out of your money in the future. Here are 4 key tips to keep in mind to help you maintain your car’s value. 

What is Vehicle Value?

A car’s value refers to the price estimate that is based on the conditions of the vehicle at a specific time. A used car can have different values, which each represent a specific kind of transaction or circumstance: 

• Trade-in value: a trade-in value for a used car is what a driver could expect to get from a dealership when trading the car in. 
• Private party value: this value is what a seller could expect when selling their car on their own, directly to another driver. 
• Suggested retail price: this value of a used car is what dealers would expect to sell this car for on their lot. 

There are multiple online resources that drivers can use online to help them determine the value of their car. These sites will use your car’s model year, mileage, condition, and accurate market estimates to provide an estimation on what your car is worth. 

Assets like your car can depreciate over time, meaning it starts losing its value as soon as you drive it off the lot you buy it from. However, there are things you can do as a driver and car owner to help keep your car’s value up. 

4 Key Tips to Maintain Your Car’s Value

1. Be Kind to Your Engine 

One of the best ways to keep your car in good shape is through regular engine maintenance. Not only will this help the value, but it also helps your car last longer and run properly. HowStuffWorks lists 10 ways you can proactively protect your car’s engine:

• Change the oil regularly. 
• Keep the cooling system working.
• Make sure the engine is breathing.
• Monitor leaks.
• Don’t drive on an empty tank.
• Keep your belts on.
• Pay attention to warning lights.
• Replace the fuel filter.
• Go easy on the start and stop driving. 
• Change spark plugs and wires.

2. Keep Your Receipts 

As a car owner, hold onto receipts for all repairs and maintenance that you have done on your car. If you do this, you’ll be able to show prospective buyers in the future that you took proper care of your car. 

3. Inside and Out, Keep it Clean

The interior of your car can easily become dirty after road trips or just by driving the kids around. It is important to keep the inside of your car clean to help with the value of your car. Clean any food or drink spills off of seats quickly as they can ruin the interior and cause unpleasant odors that seem impossible to get out. Dust the dashboard, and shampoo the carpet every now and again. 

For the exterior, keep it looking new by repairing any exterior damage soon after it happens. This will help prevent rust and other issues from developing. This includes tiny scratches too! 

4. Don’t Ignore Small Problems 

If you are still able to drive your car each day, you may think that small issues that arise aren’t worth getting corrected as soon as they happen. However, the longer you wait, the more expensive and time consuming the repair can be in the future. 

Rely on Scott’s Auto

If you are a car owner and want to maintain value, rely on Scott’s Auto. From engine maintenance to tire rotation and more, we will make sure your car is in top condition every time it leaves our shop. See you soon!