Don’t Do These 4 Things If You Want Your Car to Retain Its Value
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How to Keep Your Vehicle’s Depreciation to a Minimum
Next to purchasing a house, buying a car is probably the biggest investment you can make in your lifetime. Unfortunately, however, cars are bound to depreciate as soon as they’re driven off the dealership lot. Experts at Edmunds say that a brand-new automobile loses 9% of its value the moment it leaves the showroom.
To make matters worse, cars are estimated to depreciate by 10% after their first year and up to 60% after five years. In other words, expect your auto to lose more than half its value after owning it for five years.
Unless you’re planning to drive your car until the day it stops running due to old age, depreciation will hurt your plans to resell or trade it a few years after buying it.
However, the good news is that it’s still possible to retain the value of your vehicle as much as possible. Taking care of it is the most obvious solution. You also need to avoid certain things to keep your car’s depreciation to a minimum.
To help you protect and retain your car’s value as much as possible, Breast Cancer Car Donations shares the following no-nos in using your prized automobile:
1. Don’t park anywhere you please.
If you’re the type of driver who parks their vehicle wherever it’s convenient, it’s time you stop this practice. Although you can’t always avoid bumper scratches and door dings, one way to minimize them is by parking away from other cars and choosing empty spots in the far reaches of parking lots as often as possible.
It’s also smart to pick spots that leave your car less prone to turning or passing cars. Go for a parallel spot at the end of a row if there are no empty side-by-side stalls. And, if you’re just at home, do your car a huge favor by storing it in your garage.
2. Don’t disregard small dents and scratches.
Many drivers don’t feel the need to address minor scratches and dents on the exterior of their cars. What they don’t realize is that neglecting to get these blemishes fixed can lead to massive drops in the value of their vehicles when they try to resell or trade them. Those minor scratches and dents can also lead to rusting and corrosion, which can further sink the value of their vehicles.
3. Don’t eat, drink, or smoke in your car.
While most of us are on the go more often nowadays, let’s keep in mind that there are appropriate places to eat and drink, and our cars aren’t among them. When your car looks like a dumpster, you can’t expect to retain its value. Potential buyers or dealers will have the impression that you never cared much about your car.
4. Don’t fix your car on your own.
Unless you’re a professional mechanic yourself, you should avoid taking matters into your own hands once you see something’s wrong with your auto. It only takes a crooked bumper, mismatched wiper blades, or crudely done DIY paint job to shoo possible buyers away.
What to Do When Your Car Has Reached Its Retirement Age
If the running costs of repairs and maintenance have already surpassed the worth of your old car, maybe it’s time to retire it. The most satisfying and rewarding way to do that is by turning over that vehicle to us at Breast Cancer Car Donations. When you do that, you’ll not only enjoy all the perks we give to our donors, but you’ll also experience the priceless satisfaction of doing a charitable act that can help save lives.
We’ll have your vehicle fixed and polished before putting it up for auction. We’ll then use the proceeds to support the life-saving programs and services of breast cancer nonprofit organizations that are in partnership with us. These IRS-approved 501(c)(3) nonprofits use the funding we give them to provide uninsured and indigent breast cancer patients with easy access to top cancer centers as well as financial assistance to cover the costs of their treatments, doctor consultations, hospital fees, medications, follow-up care, and other essential healthcare services they need. Other beneficiaries get to receive free breast cancer screening and diagnosis as well as cancer education and prevention services.
Donating to us is quick, simple, and hassle-free. The only thing you need to do is to inform us of your decision to donate a vehicle to us. Our team will handle everything for you from that point onward, including all the paperwork and the free pickup and towing of your vehicle wherever you parked or stored it anywhere in the United States.
Within days following the sale of your vehicle, we’ll mail to you your 100% tax-deductible sales receipt. With this receipt, you can claim the maximum tax deduction in the next tax season.
Aside from the valuable material rewards that you’ll get from your donation, you’ll also be privileged to enjoy a most satisfying donating experience, knowing that your gift will help save lives.
We accept almost all types of vehicles, including those that are no longer in good condition. Head over to this page to learn what else you can donate aside from cars.
If you have any questions or concerns about our donation program, including our quick and easy donation process, feel free to contact us anytime through our toll-free hotline at 866-540-5069. You may also write to us here.
Bring Hope to Needy Breast Cancer-Stricken Women Today!
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Give your beater a new and worthy purpose by donating it to Breast Cancer Car Donations. We’ll turn it into a powerful life-saving instrument for those who are battling breast cancer. Call us at 866-540-5069 or fill out our secure online donation form now!
Last Updated: March 10th, 2023