Don't do these four things if you want your car to retain its value.

If you're in the market for a new car, you've probably already done your due diligence and know which models you want to stay away from. However, if you're not quite ready to buy just yet, there are certain things that you can do to help preserve the value of your current car and make it more attractive to potential buyers should you ever decide to sell it. After all, there's nothing worse than seeing the value of your car plummet within the first couple of years of owning it. Several things can have a negative impact on a vehicle's resale value – some of which may surprise you – so read on to find out what they are and how you can avoid doing them if you want your car to retain its value.

Don't skimp on vehicle maintenance.

You'll no doubt be surprised to see this as the first point on our list, but it's a genuine problem many vehicle owners face. If you fail to get your car serviced regularly, you risk significant issues affecting your vehicle's look and long-term reliability. Some serious problems that can hurt your car's resale value include engine problems, gearbox issues, poor braking performance, steering, electrical faults, faulty sensors, excessive rust, and corrosion issues. If you get bad repairs done on your vehicle, it can also negatively affect its resale value. Suppose you need to get some repairs done. In that case, it's worth considering getting them done at a reputable repair shop to help minimize the risk of any problems with the repairs reducing your vehicle's resale value.

Don't rely on cosmetic fixes for structural damage.

It's important to remember that your car's resale value isn't determined by its aesthetics alone. The structural integrity of the vehicle also matters. If you have dents or scratches in your vehicle's bodywork, don't just assume that painting over the damaged panels will be enough to cover them up. Inevitably, these issues will almost certainly harm the structural soundness of your vehicle. It's worth noting that many insurance companies rely on car appraisers to determine the value of a vehicle claim. Suppose you have suffered severe structural damage to your vehicle. In that case, it's worth getting it repaired correctly before selling your car to eliminate the risk of any potential issues that can negatively impact the structural soundness of your vehicle and reduce its resale value.

Don't buy a car just because it has beautiful interior upholstery or exquisite artisanship in its exterior panels.

While it's true that certain models are more prized than others due to the materials used in their interior and the level of artisanship in their exterior, the materials that make a car desirable can also have a negative impact on its resale value. Certain materials are cheaper than others, so if a vehicle has too many of them, it can significantly affect the car's resale value. A car should be valued based on its performance and not the materials used in its construction. It's worth noting, however, that certain materials are more expensive than others, so even a car with simpler interior materials and exterior panels can have a high resale value. The important thing is to get a reliable vehicle with decent performance rather than one that's overly "glamorous."

Don't overpay for your car.

This is important to note, particularly if you're shopping for a pre-owned vehicle. It's worth keeping in mind that the amount you pay for your car can have a significant impact on its resale value. The more you pay for a vehicle, the less money you'll be able to get for it if you decide to sell it in the future. It's worth shopping around and researching to find a fair price for the vehicle you want to buy and staying within that price range to help preserve the car's resale value. It's important to remember that the amount you pay for your car should be based on the vehicle's condition and not the amount it's worth.

Don't lease a new car and expect to recoup your losses when you sell

If you lease a car and then try to sell it later, you might find it challenging to offload because leasing a car can potentially reduce its resale value. If you lease a new vehicle, you'll have to sell the car at a significant loss when the lease term is over. If you're not prepared for this, finding a buyer can be a real challenge, particularly if you hope to recoup your losses. It's a good idea to research the potential impact leasing a car will have on its resale value before signing the contract.

Conclusion

You can do many things to help preserve the value of your current car and make it more attractive to potential buyers should you ever decide to sell it. It's important to remember that your car's resale value isn't determined by its aesthetics alone. The structural integrity of the vehicle also determines it. It's vital to get any severe structural issues repaired before selling your car to eliminate the risk of the potential problems negatively impacting the structural soundness of your vehicle and reducing its resale value. It's also important to remember that the amount you pay for your car should be based on the vehicle's condition and not the amount it's worth.

To learn more about leasing, speak to a Creditville lease specialist, call 07000330330 or send us a WhatsApp message on 07055554900.