Americans often invest in a car, and that’s primarily because they don’t want to use public transportation or ride a bike because if they do so, they would spend almost an hour of their life on average just to go to work and back home.
It’s also why 90% of American households own a car. These households see the potential of their car to grow their value over time. But is your car a good investment?
If you have a normal car, then it’s likely that you won’t be able to sell it at double its price in the future. However, you can certainly make it last longer to ensure you get every mile out of it. Here are five ways to make your car a good investment:
Keep up With Regular Maintenance
One of the best ways to keep your car running well for years is to stay on top of regular maintenance. Here is some essential regular maintenance you can do by yourself:
Your vehicle’s oil is the lifeblood that keeps all the parts moving, so keeping it clean and fresh is essential. Depending on your car model, it’s smart to do it every 3,000 to 5,000 miles or every three months, whichever comes first. You can do an oil change by first locating the oil filter and unscrewing it. After the old oil is drained, screw on the new filter and fill up your car’s engine with fresh oil. It’s as simple as that.
Tire Rotation and Wheel Alignment
Tires are another vital part of your car; you should rotate them every 5,000 to 7,500 miles. This helps ensure even wear and tear on all four tires. You can rotate your tires by first jacking up your car and removing the lug nuts that hold the wheels in place. Once the wheels are off, you can switch their position and put the lug nuts back on. You can also take your car to a professional to have the tires rotated.
Clean and Inspect Your Battery
Your car battery gives your car the power it needs to start up. Over time, the battery will lose its charge and need to be replaced. You can prolong the life of your battery by regularly cleaning it with a cloth or brush.
It’s also essential to get your battery tested every few years to check its charge. You can do this by taking it to a professional or using a home testing kit.
Regular maintenance can help prevent significant issues and costly repairs down the road. You can keep your car running well for years by staying on top of it.
Upgrades are crucial if you want to increase the value of your car. Some upgrades, like a new paint job, can make your car look new again. Here are some great upgrades to make your car look new and more resilient in the long run.
This kind of coating is a liquid polymer applied to your car’s paint. It dries and forms a protective layer that is UV resistant and helps protect against dirt, scratches, and other contaminants. A ceramic coating can make your car’s paint job last for years and can make it easier to clean. You can hire a professional to do this for you. A ceramic coating service can ensure that the coat is applied correctly and will last a long time. They can also give your car a perfect finish to make it look new.
Tinting your car’s windows can help protect the interior from UV damage and keep your car cooler in the summer. It can also give your car a more sleek and stylish look. You can get your windows tinted by a professional or do it yourself with a tinting kit.
Upgrades can make your last longer and increase its value. So make sure to get them when you can.
This one seems like a no-brainer, but driving carefully can save you a lot of money in the long run. Not only will you avoid costly repairs, but you’ll also keep your insurance rates low. So focus on being a safe driver, and your wallet will thank you later.
Choose Your Car Wisely
When buying a car, choosing one that will hold its value over time is essential. Do your research before purchasing, and look for a vehicle with a good track record for reliability and resale value. With careful selection, your car can be an excellent investment that pays off for years.
Don’t Finance if You Can Help It
If possible, pay cash for your car instead of financing it through a loan. This will save you money in interest payments, meaning you own your car outright from day one. If you do need to finance, shop around for the best interest rate and be sure to pay off the loan as quickly as possible.
Your car is one of the most significant investments, so why not make sure it’s a good one? With a little effort, your car can be turned into an investment that will last for years. Follow these tips to get the most out of your vehicle.