Increase the value of your car while taking care of its safety
26 December 2021
It is well known that a new car loses a certain percentage of its value when it is sold because it leaves the dealership and is given the status of "used", but it is true that nowadays we do not acquire a car to increase its value over time, cases, where this happens, are extremely rare. so it is important to take care of your vehicle so that its value doesn't lose quickly over time
This is not difficult to achieve, because it is part of what you should do to ensure your safety and that of those who accompany you in your vehicle, be it family, friends, acquaintances, or colleagues.
It seems strange to talk about a used car's value increasing over time because you might think it's all about maintaining value. But the condition of a used car can actually increase if it is properly maintained, because in general, many tend to lose more value due to lack of careful or conscientious maintenance, and that is why we have already mentioned that you can only do this with certainty.
How does a car lose value?
Depreciation
Automobiles are among the assets that reduce their commercial value the fastest, as we mentioned before, at the moment they gain the used state just by leaving the dealership, their value drops by 8% to 11%.
In general, we can say that a vehicle depreciates almost 20% of its value after one year,30% in the second year, and 40% in the third year.
Although depreciation is universal, it can vary in the market depending on the make and model. For example, there are vehicles such as the Toyota Tacoma whose cumulative depreciation over 5 years can range from 29% to 30%, a Toyota Tundra is 37% to 38%, and a Toyota 4Runner is 38% to 39%.Of course, we must keep in mind that this is only part of a valuation where other elements must be taken into account, i.e. aspects such as elapsed time (age), make and model, fuel efficiency, quality of maintenance over time, mechanical condition, and interior and exterior condition are factors that are considered in a valuation both in technical terms (with tools) and in terms of perception.
How you can maintain its value
Inspection and maintenance
Carrying out proper maintenance is of great help in all aspects, especially for your safety. When this is carried out with an evaluation by a specialized center, it will help you in several ways, such as:
- Detect mechanical problems in general
- Avoid accidents due to malfunction
- Avoid unexpected events, such as being stranded or a bad and exhausting driving experience.
- Detection of electrical faults
- Reduce accumulated costs that increase due to lack of timely maintenance, generating greater wear
- Reduce the emission of gasses that can be harmful to you and your family and pollute the environment
- Avoid RTA sanctions
- Significantly reduce the loss of value when selling your car
Remember, Inspections and maintenance save lives
What signs should you watch for?
There are several red flags that tell you it is necessary to carry out an inspection in a qualified service center. Of course, the important thing is not to get there, but you should not underestimate the signs that your vehicle can show you such as.
- Check Engine Light on
- Service Engine Soon on
- Warning indicators lit on the dash (battery, electrical problem, tire pressure, others)
- Brakes that are noisy, lock up or cause the car to not stop properly
- The steering feels out of calibration
- Dark fluids
- Noises in the engine
- Electrical system showing faults
- Start-up or ignition problems
What should you pay attention to in regular maintenance?
There are essential aspects of maintenance that will extend the life of your vehicle while keeping it in an optimal and safe condition to drive; always keep that in mind:
- Oil changes
- Filter change
- Spark plug maintenance
- Air filters
- Tire alignment
- Tire wear control
- Condition of the brakes
- Refrigerant
- Calibration and inspection of the motor
- Transmission inspection and calibration
- Air conditioning
- Wiper washer
How can you increase the value of your used vehicle?
- To do this, you can work with the experts at the Service Center to create an inspection calendar based on your daily use and work. They can help you estimate when and what type of maintenance you should perform on your vehicle.
- Based on the usage estimate, you can estimate approximately when you should replace certain parts (brakes, tires, or others) due to increased wear and tear. Remember that it's not just about maintaining the value of your car, but also about the safety of your life and your loved ones, or friends, when they are traveling with you in the car. Timely inspection and maintenance will help you avoid unsafe conditions that can lead to accidents such as serious crashes and even fatalities.
- The general condition of the upholstery, steering wheel, and dashboard will have lots of effects, its good condition will help the interior to have a significant effect. If there is a lot of wear and tear because of the sun, heat, and friction affecting it over time, a refurbishment can be very good and have a positive impact on the valuation.
- Inspection and maintenance, where worn parts are replaced to improve the mechanical condition of the vehicle, is also very helpful.
- Don’t underestimate the presentation. Professional, polishing and waxing between the changes of seasons will help maintain its condition and presentation, as well as protect it. Detecting and correcting any scratches caused by wear due to dust or by the accumulation of grease or others on the surface will also help.
- If you are looking to sell your used car, well-maintained tires in top condition can positively impact the overall condition of the vehicle but don't forget the wheels as these will show if you only changed or cleaned the tires, but the general care has had "gaps"
What is the condition of your vehicle? Have you saved the maintenance receipts?