Buying a car is a big deal. For most of us, it is one of the biggest expenses you’ll ever make, no matter how new or old it is at the time of purchase. So it makes perfect sense that you want to make that car retain its value as much as possible.
Safety is paramount to most motorists. Whether you rely on Euro NCAP ratings, the included safety features or other driver’s experiences, there is plenty of information out there to help you choose the right car.
Here are 6 ways to help you protect your next car purchase so that you can sell it on more easily and feel safer behind the wheel:
Reap the benefits of car finance
Did you know that car finance is the most popular way to buy a car in the UK? Not only does it allow you to get your hands on the latest models without breaking the bank, but it also gets you the latest safety features and technology.
With so many different loans available such as Personal Contract Purchase (PCP), Hire Purchase (HP) and bad credit car loans to choose from, you have more spending power than cash alone can get you.
But that’s not all.
Car loans tend to include numerous extras that will keep you safer on the road for longer, such as:
- Manufacturer’s warranty: Covers the cost of most system repairs from the engine to air conditioning
- Optional extras such as tyre protection, extended warranty, gap insurance etc.
What’s more, depending on which type of car finance you choose, such as PCP, you can hand back the car with no strings attached when you are finished with it. You might also be able to use the equity towards upgrading your vehicle to a new one.
Reduce your mileage
With fuel prices at an all-time high, reducing your mileage is becoming more of a necessity than ever before. But if you plan on selling your motor on later, it’s worth remembering that lower mileage cars are more attractive to the secondhand market.
Higher mileage vehicles naturally depreciate, and it shows when compared to their lower mileage counterparts. So it pays to keep an eye on your mileage, especially if this isn’t your forever car.
Consider buying a vehicle renowned for retaining its value
Cars with a good reputation for reliability and quality will always retain their value over other vehicles purely for the strong demand on the market. Badge appeal alone will bump up your car’s resale value.
But if you’re in mind to give yourself the best shot at selling your vehicle later, these are the UK’s top 10 best brands for holding their resale value:
- Land Rover
Do your research
Knowledge is power. Reading up on expert and consumer reviews will instantly give you insight into the best cars on the market. You can find out about how well they handle on the road, comfort, cabin size and more just by reading a few verdicts online.
Within that research, make sure you check out the car’s Euro NCAP rating, fuel economy and if it complies with the latest emissions regulations. And don’t forget to compare similar models, so you don’t get ripped off when it comes to buying or selling.
Futureproof your purchase
You’ve done your research and compared insurance and car finance quotes. But have you considered how well your desired car will fare in the future?
Electric vehicles (EVs) are here to stay. The automotive industry is more invested in advancing EV technology than ever before. And with the weight of zero net emissions and the upcoming ban of new diesel and petrol sales in 2030, it’s no surprise.
But what are the incentives to making the leap to an EV?
Well, first off, fuel. You no longer have to fill up your tank at the fuel station and leave behind a small mortgage. Instead, you can plug in and charge up at home overnight when electricity prices are at their lowest and be ready to hop in and get on with your day. You could save up to half of your yearly costs by switching to EV alone.
Currently, most EVs are exempt from paying road tax. Also, EVs don’t produce any tailpipe emissions, so drivers don’t have to pay a fee (up to £12.50 daily) to drive through London’s Ultra Low Emission Zone (ULEZ) or Birmingham, Portsmouth or Bristol’s Clean Air Zones (CAZ).
Then, there’s the government’s £1,500 Plug-in Grant to consider. This can be used at the dealership alongside your finance deal to instantly lower costs.
Keep it clean
Not only does it make your car look presentable, but keeping the interiors and exteriors of your vehicle in top-notch condition will make your motor stand out for all the right reasons.
Smoking in your car is guaranteed to hurt its resale value. And there’s no escaping that smell! Cigarette smoke will seep into your upholstery and is virtually impossible to remove. Simply winding down your window isn’t enough. So if you plan on selling your vehicle, save your smoking break for outside.
Pet hair is another nemesis for potential sellers and buyers. While your dog might love a ride in the backseat or boot, it’s hard to keep on top of mud, debris and hair unless you are willing to vacuum and air out your car post-trip every time.
The same goes for food. Try and clean up spills and marks straightaway so avoid staining your upholstery for good.
Then there’s the outside to consider. Scuffs and scrapes may not look out of place on some used car forecourts, but they are far harder to sell than a well-kept vehicle. Try and avoid rust building up and consider a valet every once in a while to keep your paintwork in good condition.
Whatever stage you’re at with either buying or selling your motor, our simple tips will ensure you protect your next car purchase!