8 Expensive Mistakes That Devalue Your Car
Are you devaluing your car without even realizing it? Avoid these eight car maintenance mistakes, which can send the resale value of your vehicle into a tailspin.
Mistakes That Can Devalue Your Car
With new cars costing tens of thousands of dollars, it’s important to protect your investment. If you care for your car properly, you can get a great trade-in or sell it for a good price when it’s time to move on to the next vehicle. If not, you might be disappointed at the lowball offers you receive. Here are eight things that could be devaluing your car and costing you money.
Mistake #1: Skipping Your Car’s Regular Maintenance
Regular car maintenance, including frequent oil changes, is the best way to keep your car running like new. Buyers will ask to see your service records, and you want them to like what they see. Make sure you get all recommended maintenance done, and document the date and mileage at each service.
Mistake #2: Not Keeping Your Car Clean
Prospective car buyers do not want to find fossilized French fries under the seat or mystery stains on the dashboard. Not keeping your car clean is a big mistake-both for your own enjoyment and the future value of the vehicle.
Mistake #3: Ignoring Your Car’s Warning Lights
You may have learned to ignore that check engine light, but chances are it will alarm a would-be buyer. If you have been putting off a trip to the mechanic, you might want to schedule that checkup before putting your car on the market.
Mistake #4: Squeezing Your Car into Tight Parking Spots
Parking too close to the car next to you is an open invitation to parking lot door dings. Those dings could diminish the beauty of your paint job and ultimately make your car less valuable. Parking at the end of the parking lot might be inconvenient, but it is better for you and your car’s paint finish.
Mistake #5: Driving Your Car Too Much
The number of kilometres on the odometer will directly influence the value of the car, so you might want to put a lid on those unnecessary trips. Try to bundle your trips so you get all your errands done at once instead of driving all over town and running up the kilometres.
Mistake #6: Making Unnecessary Car Modifications
You may love that aftermarket sunroof you installed, but a potential buyer will probably worry if it leaks. Making too many custom modifications could hurt the resale value of your car and make it harder to sell.
Mistake #7: Painting Your Car a Strange Colour
Even if pink is your favourite colour, painting your car that hue is probably a bad idea. If you must give your car a new coat of paint, stick to market-friendly neutral colours and skip the custom fluorescent greens, pinks and purples.
Mistake #8: Going Nose Blind to Your Car
If your car is more than a few years old, there are probably a few odd odours floating around the passenger compartment. You might not notice them, but a potential buyer will not be so nose-blind. Do yourself, and the potential buyer, a favour by sprucing up your car and removing those unpleasant odours.
Check out our car buying guide!
Explore Reader’s Digest Cars.