Key takeaways:
• It’s no secret that taking good care and maintaining your car can help maintain its value. But other surprising factors can also impact your car’s worth.
• Things like a bumper sticker, fender benders, and even where you live can all play a role in devaluing your vehicle.
• Even your driving and smoking habits can be factors, so it’s important to be aware of the things that can hurt your car’s value.
• It is crucial to have your vehicle appraised at a reputable dealership before you consider scheduling repairs & proceeding with a sale or trade-in.
It’s no secret that a new car loses a significant amount of its value as soon as it drives off the lot. In fact, according to Edmunds, the average new car depreciates by about 20% in its first 12 months.
Therefore, many things can hurt your car’s value. Things like accidents, improper maintenance, and even the color of your car can all have an impact on how much money you will get for it when you go to sell. This blog post by Lynn Layton Ford will discuss some of the most surprising things that can hurt your car’s value. Some may seem like common sense, but others may surprise you! Keep reading to learn more.
01: Bumper Stickers
Bumper stickers can be an amusing way to show off your personality. You can have a funny saying, support your favorite team, or display political beliefs. However, bumper stickers can hurt the value of your car.
While some people may not mind a few bumper stickers, others may find them tacky and unappealing. This can turn potential buyers away and lowball you on an offer.
Removing them yourself could cause problems if you harm the automobile or peel the paint. If you’re not careful, you could cost yourself more money in the long run.
02: Vague Maintenance History
Maintaining your automobile is one of the most crucial things you can do to keep its worth. This can entail routine vehicle maintenance, such as oil changes, fluid inspections, tire rotations, brake pad replacement, and any necessary repairs. Without these routine inspections and maintenance, your automobile may sustain damage and lose years or miles from its lifespan.
If you’re selling your car, the buyer will want to know about its maintenance history. Without this information, buyers will be skeptical and may not want to purchase your car. Make sure you have all the paperwork from when the work was done to show it to potential buyers.
03: Cigarette Burns and Smell
Cigarette burns or the smell of cigarettes can hurt your car’s value, especially if you’re trying to sell it to a nonsmoker. Try to avoid smoking in your automobile if you are a smoker. If there are already burns or the smell is present, try cleaning it with a fabric cleaner or shampoo to remove the smoke odor. You may also want to have the interior professionally cleaned before you put your car up for sale.
04: Old and Worn-Out Tires
Tires are one of your car’s most crucial components. However, they become worn-out and outdated with time, reducing your vehicle’s value. Tires with worn-out treads can cause your car to slip and skid on wet roads and blow out while you’re driving. If you’re selling your car, ensure the tires are in good condition and have plenty of treads left. It is recommended to replace your tires before you sell your automobile since a potential buyer might not want to deal with the trouble and price of doing so.
05: A Cracked Windshield
A simple chip or crack on the windshield is not only unsightly but can also be dangerous. Windshields are designed to protect you in the event of a collision, and if they are cracked, they might not be able to do their job properly. If you’re selling your car, get the windshield fixed before you list it for sale.
A helpful hint is to check your auto insurance to determine what your coverage may cover in replacing or repairing your windshield.
06: Odd Paint Color
While you may have been drawn to that electric blue paint job when you first bought your car, not everyone will feel the same way. Odd paint color can be a big turnoff for potential buyers.
For example, according to recent research, gold-painted automobiles often lose more than 12 percent of their value over three years or 37.1%. Yellow automobiles, on the other hand, often depreciate far less, by only 27% over the same three years. It is better to keep a more neutral hue that will appeal to a larger spectrum of individuals if you intend to sell your automobile.
07: Cosmetic Damage
Any cosmetic damage, even minor aesthetic scratches and dents, can affect the value of an automobile. Be vigilant and take care of your car if you want to maintain its value. Even something as small as a cracked taillight can result in a 20% drop in an automobile’s resale value.
08: Cloudy and Dull Headlight
Over time, the plastic on your headlights may fog up, which is unsightly and may even make driving conditions unsafe by reducing the brightness of your headlights. Although it can seem like a minor problem, it might lower your car’s worth.
Fortunately, there are a few quick remedies. Look into a specialist headlight repair kit, or you could even want to try using regular home items like baking soda or toothpaste to clean the headlight.
09: Excessive Mileage
The number of miles on your car’s odometer is a big factor in its value. The resale value decreases as the mileage increases. Most people want a car that hasn’t been driven too much, which means there are less likely to be problems with it.
So, keep the mileage low if you’re considering selling your car. This means not driving it too much and taking good care of it so it lasts longer.
10: Out-of-Date Technology
If your car no longer has up-to-date features, it can hurt its resale value. For example, suppose you have an older car with a CD or USB system. In that case, people may not be interested in paying as much for it because they would have to replace the system with an advanced Bluetooth version.
The same goes for other outdated features like navigation systems. If your car has a navigation system that is not up-to-date, it may be hard to sell because people will want the newest version.
Ending Note:
These are just a few things that can hurt your car’s value. If you’re considering selling your car, it’s important to know these factors to get the best price possible.
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