Monday 7 November 2022

Could Your Family Car Become a Good Investment?

**Collaborative Post**

AD: Expensive assets though they are, there’s one universal truth about owning a car, even a new one. As soon as you get behind the wheel, its value starts dropping regardless of how much you spent on it to begin with. Some cars are attractive enough to collectors that they can maintain a lot of their value or even build some as time goes on as they become sought after collectibles, but that's not the same for all cars.

Link - Pixabay License

However, if you want to have some real worth to your car, then you might want to invest a little into it as well. Here, we’re going to look at some of the ways you can invest in your car to maintain its value a little better.

Make sure you take good care of it

A thorough maintenance schedule is essential for your car for a variety of reasons. The most important reason is that it prevents faults that can affect your car’s driving and help keep your family car safe on the road. However, it’s also the case that the better you maintain the condition of the car, the more likely it is to retain more of its value. The further you let a car deteriorate, the more of its value it’s going to lose since it would take more money to get the vehicle back up to its peak condition.

Add some safety tech to it

When talking about how you keep your car safe, you should also think about the technology that can increase the inherent safety of driving your car. There are a lot of vehicles that come with safety tech such as parking sensors included in them, sensing when the car is approaching or objects while parking and warning the driver when they are at risk of a collision. However, you can also install this tech on many cars, which can make it a much safer ride which, in turn, can increase its value, especially if you’re in the city, where parking space is at a premium.

Improving the air con

Not all of the worthwhile upgrades to your car are about making it safer or better on the road. The driver experience matters a lot, too, of course. To that end, one of the biggest ways you can improve that is to increase the quality and utility of the air conditioning in the car. In fact, air-con improvements tend to be amongst the modifications that add the most value to your car for that reason, even if they are also one of the most expensive.

Adding some shine to it

While there may be no practical benefits to repainting your car, not every upgrade that has some value is based on practicality. For some buyers, aesthetic choices can go just as far. If you’re looking to add a prestige feel to your car, then you should take a look at the metallic paint options out there. As such, you may be able to include the price of the metallic paint job with the resale value of the car, helping to keep its price higher. The more attractive your car is and the more buyers it attracts, the more you might be able to ask for it.

A touch of personalisation

While not adding a lot to the value of the car itself, this investment can retain and grow some value of its own. There are plenty of reasons to invest in private plates, even cheap private plates, such as personalising your car and hiding its age when you’re driving on the road. However, there are some plates that, by chance or by careful selection, can gain a lot of value for the meaning they can take on or because they are particularly distinct in what they communicate.

A new level of infotainment

More and more modern cars are shipping with infotainment systems that can connect us to the internet, make it easier to adjust features in the car, and help us access all manner of apps. However, there are still plenty of vehicles that feature no infotainment system to speak. For these ones, installing a new infotainment system of your own can add a lot of utility, not to mention the allure of modern technology, to your vehicle which, in turn, can help to bump up the value of the car by quite a bit.

Very few cars will ever retain their full value as you drive them. However, with the tips above, you can ensure that you’re able to keep more of it than you would otherwise. This can be especially helpful when it comes time to resell it or trade it in.


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