Get Thousands More Out Of Your Automotive Investment

Get Thousands More Out Of Your Automotive Investment | The Loaded Pig

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Your car is not only a form of personal transportation, but it is also an investment. To treat it as such, you should take proper care of your vehicle to get the most money when you sell it. Experts claim that on average a well maintained vehicle resales for 20% more than an identical but poorly maintained counterpart. While the majority of new cars depreciate as soon as they are purchased, you can still ensure you’ll get top dollar when you try to sell by doing a few simple things on a regular basis to keep your vehicle in great shape.

Get It Serviced Regularly

The most important feature of your car is that it runs smoothly and gets you from place to place. This will be no different when you try to sell it, so make it a priority to get your vehicle serviced regularly. Check your owner’s manual for the full maintenance schedule if your car does not provide automated and detailed reminders. Waiting for the check engine light to come on is not the only way to ensure your car gets the treatment it deserves. Regular service will prevent expensive issues from arising and keep your car performing safely.

Wash It Inside & Out

Get Thousands More Out Of Your Automotive Investment | The Loaded Pig

Do your best to wash your car at least on a monthly basis. This will prevent dirt and grime from building up over time and damaging the paint or interior surfaces. If you live in an area with a lot of pollution or salt, then you should wash your car more frequently. Additionally, over time your vehicle’s paint will begin to discolor and peel because of the harmful UV rays and oxidation. Therefore, it is imperative to also wax your car on a yearly basis. We recommend using Meguiar’s Ultimate Liquid Wax as it has thousands of great reviews, a reputable name behind it, and since this particular wax is liquid instead of a paste, you’ll find it’s much easier to apply. Vacuum and wipe down all interior surfaces and avoid treating your car like a trash can. If you have to apologize for the mess when you have passengers, then you are not treating your car like the investment that it is. Think of every wash as a way to preserve your vehicle’s resale value!

Check Your Tire Pressure

Low tire pressure can lead to costly issues, including a flat tire or uneven tire wear, braking issues, instability and less gas mileage. Try to check your tires’ pressure each month and fill them as needed. Check the sticker in the driver’s door jam or your owner’s manual for the manufacturer’s recommended tire pressure, which is specific to each vehicle.

Monitor Your Vehicle For Recalls

Auto recalls occur when the car manufacturer or the National Highway Traffic Safety Administration determines that there is a safety risk. You can check NHTSA’s website with your VIN to see if there are any recalls for your specific car. Going forward, it’s a good idea to sign up for NHTSA’s email notifications so you can receive alerts if your car has a recall, you’ll just have to specify its make, model and year. Alternatively, Credit Karma will also send you alerts when there is a recall if you provide your car’s make, model and year as part of your free profile.

Save All of Your Records

This is for your sake as well as for when it comes time to sell your car. When dealers or private buyers buy used cars a big advantage is being able to see organized and timely service records. Having a folder in your car dedicated to service records will help keep everything in one convenient place.

Get Full Coverage Car Insurance

Don’t skimp on car insurance. Even if you have an impeccable driving record, quality car insurance will protect your investment from damage due to other drivers and natural hazards. Consider car insurance a form of protection for your car’s resale value. Liberty Mutual is an affordable car insurance option with a solid reputation.

Drive Safe

Finally and perhaps most importantly, be a safe driver. It’s easy to speed or get distracted while driving without noticing, so do your best to focus only on driving. This is not only for your investment in your car, but also for everyone’s safety. It only takes a few seconds to make a big mistake on the road that could significantly hurt your car’s resale value.

You may not have thought of your car as an investment before, but you should because over the years you will put a lot of money into it. Imagine the difference in resale value between your well-kept, clean car that runs perfectly and an identical car that the owner failed to maintain. Simply doing these few things on a regular basis to take care of your vehicle will help you get the most cash when you decide it’s time to sell.

Did you know it’s possible to save money on your car insurance by improving your credit score? Find out other ways your credit score can help you save money by reading 6 Ways You Can Save Thousands By Raising Your Credit Score.

Financial freedom begins with good habits.

Rebecca & Tiago,

Rebecca co-founded The Loaded Pig with the goal of helping people achieve their financial goals. Her passion for financial freedom has landed her on US News & World Report,, Cheapism, and many other sites. Rebecca earned her Master of Business Administration from the University of Florida and her Bachelor of Arts from the University of Miami. She is currently a professor in the business department at Broward College.