Retaining your vehicle’s resale value isn’t something we tend to think about when we’re driving around, but it should be. Chances are that you will end up selling or trading your wheels at some point, so it makes sense to do everything possible to think about the future and act accordingly in the now.
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With this in mind, avoid abusing your vehicle by braking hard and accelerating excessively, and repair any damage as soon as possible. What you should also do is make sure that you are maintaining your vehicle regularly.
This action is an essential way to preserve the resale value of your vehicle in South Africa. Let’s unpack the impact that regular maintenance has on your car’s resale value, as well as point out a few checks you should keep an eye on.
Data-Backed Financial Motivation
Did you know that the real cost of car ownership in the country has risen by 48% since pre-Covid levels? These findings have also revealed that the average monthly cost of owning a vehicle has increased from R7,851 in 2019 to R11,627 in May 2023.
That’s quite the leap.
Clearly buying and owning a vehicle is now, more than ever, a significant financial investment, and South African vehicle owners absolutely need to understand the vital role that regular maintenance plays in how their car’s drive, as well as their respective resale values.
This conclusion is bolstered by data released by WesBank, which highlights the fact that one of the most influential factors is whether a vehicle has undergone regular maintenance with consistent service trips.
Why Car Maintenance Matters (For You)
Yes, we all know that regular maintenance is what will ensure that your vehicle remains in good condition. But what you also need to consider is that regular maintenance prevents major repairs, allowing you to catch and sort out issues early and not drive around, making things worse. Major repairs are usually on the expensive side, so while you might think that maintenance is going to cost you… just think about what you’d spend on replacing something like the fan belt.
What you should also consider is how regular maintenance will also extend your vehicle’s lifespan, so you’ll be able to drive it for that much longer.
In this economy, that’s no bad thing.
The Impact On Resale Values // Why Car Maintenance Matters (To Buyers)
We’ve reviewed how regular car maintenance can save you from paying for costly repair jobs and enable you to drive your vehicle around for longer. But what about from the perspective of selling your vehicle (or trading) it in?
In short, potential buyers tend to be reassured when they have proof that the vehicle has been well taken care of and is less likely to have hidden issues. After all, a well-maintained car is likely to have fewer issues and last longer than a poorly maintained car, and wouldn’t you prefer to buy a vehicle of this caliber?
The alternative is that you could either sell a vehicle that could breakdown at any moment – or worse, you could be the one buying such a vehicle.
A Bonus Check-Up Guide
To accurately maintain your car and keep that resale value as high as you can, it’s recommended that you follow your car maintenance schedule. As an additional guide, here’s a breakdown of the short-term, seasonal, and long-term check-ups.
Short-term check-ups:
- Liquids – Check the oil and coolant levels.
- Filters – Change air and oil filters.
- Tyres – Check the pressure, rotation, and tread depth.
- Lights – Test headlights, turn signals, brake and parking lights.
- Exterior – Go the extra mile and wax every 6 months to keep the paint in good shape and reduce the risk of rust.
Long-term check-ups:
- Fluids – Transmission, coolant fluid exchange, and transfer case fluids.
- Shocks and Struts – Inspect by a professional.
- Spark plugs and serpentine belt – Another check-up for the professionals.
- Front and/or rear differential – Check and change fluid if necessary.
Seasonal check-ups:
- Replace your windshield wipers.
- Check your battery performance at a battery centre.
- Change your tyres to handle rain, heat, or snowy conditions.
Feel informed?
There are other factors that can impact the resale value of a car in South Africa, such as market conditions, demand, mileage, wear and tear, and economic conditions. That said, while you can’t do much about the economy, we’d argue that regular car maintenance is in your wheelhouse, so make car maintenance a priority.
What can also help maintain your vehicle’s resale value is having an AA Warranty, because even with regular maintenance you could encounter sudden, unforeseen breakdowns or failures. But if you have an AA Warranty, you’ll have financial protection to deal with these bills, as well as access to roadside assistance.
For an AA Warranty – you’ll even score a 10% discount by buying the policy online.
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