10 tips to retain your cars value


07 Jun 2023

Car Value Retention Tips

A car is one of your valued possessions. It is essential to maintain it in good condition. However, you know that the car is a depreciating asset, which means its value decreases over time. Considering the car's age, consider selling it and purchasing a new one. Though the value depreciates, you can still preserve the value of the car and get an excellent to-resale value for the same while selling it.

Ten tips to retain your car’s value

Let us look at the ten tips to maintain your car’s worth:

  1. Shop wisely.

The resale value depends on how much was spent on the car initially. All you need to do is shop wisely by doing thorough research. Compare the cars, take suggestions from car-savvy friends, and check with multiple brokers to crack the best deal for you. You can also check on the resale value of the car type while purchasing.

  1. Keep your car clean.

Keeping the car clean is easier said than done. Wash regularly with the car soap sprayer, and keep the interior and exterior clean. Do wax your car to protect it from contaminants.

  1. Avoid excessive wear and tear.

Using the vehicle in poor road conditions and using the car unnecessarily adds to the excessive wear and tear, which reduces your vehicle’s value.

  1. Drive sensibly.

Harsh driving is not suitable for a car’s longevity. Hence, drive your vehicle smoothly and be a sensible driver. This can ensure you get the potential value for your car while selling it.

  1. Get your car regularly serviced.

If you keep the car in good condition with regular services, you can get a good value for your vehicle while selling it.

  1. Remove dents and scratches.

Minor dents and scratches on your car sometimes are inevitable. Ensure to fix them as soon as you notice. However, you should know about claiming car insurance for scratches in case required.

  1. Protect from rust

Rust can spoil your car’s interior and exterior parts of the car. You need to fight the rust and protect your vehicle. Ensure to remove the salt deposits from time to time. You can use the rust-proof spray, also.

  1. Keep paperwork in place.

Always keep the important papers related to your car in place, such as the owner’s manual, service records, service receipts, car insurance, registration certificate, etc. A car can fetch a reasonable price if there are documents supporting the car's condition.

  1. Do not smoke, eat, or drink in the car

Smoking, eating, and drinking inside the car can spoil your car's interior. Hence, avoid these things to keep the car in its original condition.

  1. Take caution while customising your car.

Many car modifications, such as body modifications and changing the lights, can reduce their value. Hence, be careful when you customise your car.

Keeping the originality of your car and maintaining it well can help you preserve its value. Always ensure to keep your car secured with a comprehensive car insurance policy. You can compare the features and car insurance premiums online to buy suitable insurance coverage for your car.

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.