Car Buying Tips: Protecting Resale Value from the Start

When you first take ownership of a new vehicle, reselling it is probably the last thing on your mind. However, depreciation is a major cost associated with car ownership and one that should be taken into account with any vehicle purchase. In fact, an October 5, 2005 CNNmoney.com report attests that depreciation is the greatest cost incurred in the first five years of a vehicle’s life, surpassing that of maintenance and fuel. By being a conscious consumer and taking steps to protect your vehicle’s resale value, you can maximize your return in the event that you sell or trade your vehicle in the future. The following pointers are intended to help car owners obtain the optimal residual value from their vehicles.

-Analyze before you buy. When you are in the market for a vehicle, bear in mind that some types of vehicles simply hold their resale value better than others due to a number of factors. You may find it beneficial to consult current reports reflecting which vehicles have been found to hold value best, and keep this information in consideration when shopping for your next vehicle. What’s more, vehicles that are known to depreciate quickly may do so because of mechanical inconsistencies or failures, which may equate to higher maintenance costs on top of rapid depreciation for certain vehicle types.

-Document all maintenance and repairs. Maintaining your vehicle meticulously can keep it running to its optimal potential, prevent unnecessary repairs and contribute positively to its resale value. However, getting the best value when you sell or trade the vehicle will depend in part on your ability to show that such maintenance has been performed. It will pay off later to retain all maintenance records throughout your ownership of the vehicle, and include corresponding dates and mileage.

-Do not neglect “minor” problems. A small door ding may not sound like much of a problem, but can contribute to more rapid depreciation of your vehicle. Even a small scratch in your vehicle’s paint may provide the perfect environment for rust formation, after which damage becomes more apparent and repairs become more intensive and costly.

-Protect the interior. Properly caring for the interior of your vehicle will not only keep it looking new for you, it will also increase your chances of obtaining the best resale value for the vehicle when the time comes. Caring for the interior of a vehicle involves keeping it clean as well as protected. Refrain from habits such as eating in the vehicle, which can lead to stains and odors. If eating on the go is unavoidable, consider limiting it to foods with the least potential to spill or stain. You may want to take cleaning a step further and apply protectant to the hard surfaces to protect against damaging UV rays.

Optimizing the resale value you can expect to receive for your vehicle involves attention in both making the purchase decision and caring for the vehicle during ownership. Besides maintaining your vehicle and keeping it clean, you should also consider the effect on resale value when making modifications to the vehicle. A modification as simple as changing the paint color from white to yellow can affect a drop in your vehicle’s resale value. Likewise, an already yellow vehicle will likely not hold its value as well as an equivalent one in a more conservative color. In determining which vehicle to purchase and whether to modify it, be sure to contemplate whether the average car buyer would agree. Making the right decision could be worth thousands of dollars.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading provider of used cars for sale in Austin TX. For more information please visit Greg Chapman Motors.

Car Shopping for Growing Families

Becoming a parent for the first time will undoubtedly bring about changes to many facets of a person’s life. If you are expecting or adopting a child for the first time, you have likely begun to make a number of preparations in your home—childproofing for safety, stocking up on the basics and creating the space your growing family needs. Another important consideration is whether your current vehicle can adapt to the changing demands that will be placed on it as the family grows. Perhaps your current vehicle is adequate to meet your evolving needs, but many find that bringing a child into the family necessitates upgrading to a more family friendly vehicle. Here we address some factors you may consider when shopping for a new or used vehicle to accommodate an expanding family:

-Interior space. Any car with a backseat can accommodate a child safety seat, though the child’s seat is likely not the only extra cargo you will be transporting in your vehicle as your family expands. In shopping for a family friendly vehicle, be sure to take into account the extra space needed to transport items such as strollers, diaper bags and toys. Does your family take road trips? If so, ensure that the vehicle you select provides adequate space for all of your family members and their collective luggage.

-Safety ratings. While safety is often an important factor considered by car shoppers, many find that safety becomes a more significant concern when the prospect of transporting a child is added to the mix. Safety features in vehicles are becoming more effective as technology advances and increasing data about accidents becomes available. The internet can be a valuable resource in comparing the safety ratings of different vehicle models as determined by safety and crash testing.-Future family plans. A vehicle suitable for a family with one child may not serve the needs of a family with two or more children. If you are planning for more children in the next few years, you may consider purchasing a vehicle now that can accommodate the family’s future growth.

-Function vs. economy. Finding the vehicle that is just right may require some trade off when it comes to vehicle size versus economic sensibility. While an enormous SUV may be a tempting option due to the ample interior space, poor fuel economy may make the same vehicle an unviable option when the regular expense of fuel is a concern. Vehicle manufacturers are privy to consumer demands, and have begun producing vehicles that strike an appealing balance between functionality and fuel economy. Whether your family is best served by an SUV, minivan or car, fuel consumption is an inherent cost that should not be overlooked in your vehicle purchase.

Many of the factors you consider when shopping for a vehicle will stem from the individual needs and desires of your family. While a third row of seats may be a necessity for one family, a resilient leather interior may be deemed a requirement by another family. Before shopping for a vehicle, it may be helpful to ascertain what features your family considers absolutely necessary in a vehicle and which features are preferred but not mandatory.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading provider of used cars for sale in Austin TX. For more information please visit Greg Chapman Motors.

Preparing your Vehicle for Winter

As the winter season inevitably approaches, you may find yourself taking advantage of the remaining warm days, digging coats and scarves out of hibernation and dusting off the snow shovel in preparation for the upcoming season. As the days become shorter and the temperature drops, preparing your vehicle to endure the unpredictable weather of the winter season is another important precaution you can take to protect the safety of yourself and your family. Below we examine some areas of consideration that may help you prepare your vehicle to endure the frigid months ahead:

-Mechanical check-up: A basic check for proper functioning of your vehicle’s battery, windshield wipers and fluid, all lights, defroster, exhaust system, brakes, thermostat and heater can give you insight into what systems and components may benefit from maintenance or replacement before the winter weather arrives in full force. Now is a good time to perform any preventative maintenance you may have put off. Repair or replace damaged belts, hoses or other components if needed to protect against a needless breakdown in dreadfully cold temperatures.

-Proper type and level of coolant: Coolant is comprised of a combination of water and anti-freeze, which when used in the correct proportions will resist freezing. However, improper mixtures of water and anti-freeze can result in a freeze with the potential to cause serious damage to your engine. Ensure that the coolant in your vehicle is mixed correctly and suitable for the weather conditions in your area. It is also beneficial to repair any leaks that may be present and change your vehicle’s coolant as recommended by the manufacturer.

-Adapt your vehicle to the climate in your area. If you have recently moved to a new area, you may want to consider exercising any precautions that the wise and seasoned drivers living in your area suggest. In extremely cold climates, this may mean having a block heater installed to ensure that your vehicle starts on even the coldest of mornings. A set of snow tires may also be a sensible purchase for those living in areas that receive regular snowfall. The proper precautions to take will depend on the climate in the area in which you live. In Minnesota, for instance, snow tires are practically a necessity, while in southern Florida, not so much.

-Emergency stockpile. Hopefully, your meticulous preparation will pay off with an incident free winter of driving. But just as uncertain as the winter weather is whether your car will break down in the midst of it, and being prepared with some key safety items can improve your defense against the elements in the event that you become stranded. A first aid kit can come in handy year round, but storing a few additional supplies in your trunk for the winter season is a good idea. A strong ice scraper, ice brush, jumper cables, working flashlight, blanket, extra warm clothing, emergency road flares and sand or other material for traction are a few of the items that may be included in a winter emergency kit.

Even when your vehicle is fully prepared to brave a winter storm, the surest way to stay safe is avoiding driving in adverse conditions whenever possible, and practicing tremendous caution at times when driving is necessary.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading provider of used cars in Austin TX. For more information please visit Greg Chapman Motors.

Save Money on Gasoline Now

Though fuel prices fluctuate, the price of gasoline seems to have been on the constant rise in recent decades. It is not uncommon today for a consumer to pay over $40 to fill up even a small car, and significantly more to refuel a sport utility vehicle, truck or commercial vehicle. Even motorists who drive minimally must spend thousands of dollars per year just for the ability to get from point A to point B. If you, like most people, are not quite ready to take the plunge on the purchase of one of the new alternative fuel vehicles on the market, you can benefit from these tips to reduce the fuel consumption in your own vehicle now.

-Don’t skip tune-ups. Regular tune ups can keep your vehicle running at its optimal fuel efficiency. Regular maintenance and replacement as needed of your vehicle’s air filter, fuel injectors, carburetor and spark plugs can make a dramatic difference in fuel consumption.

-Remove needless cargo. Maybe you’re the type to live half out of your home and half out of your vehicle. Or perhaps you transport equipment and tools in your vehicle for work. Either way, keeping your vehicle free of excess cargo whenever possible reduces the weight that the vehicle must propel, thus improving fuel efficiency.

-Plan the best route for errands. Leaving home with a lot to do and no plan often leads to backtracking and making multiple trips. Determine what exactly you need to do before leaving the house, and plan the shortest route that covers all your bases. Minimize fuel consumption by selecting the most direct route with the least stop signs and traffic lights, since stopping and accelerating will use more gasoline than maintaining a constant pace.

-Make a community effort. Carpooling and utilizing public transportation will perhaps reduce your fuel expenditures most drastically. Particularly if you have children that you haul to school, sports and elsewhere, combining trips with other parents is an excellent way to reduce fuel consumption, not to mention enjoy some time to yourself.

-Reduce resistance. Ensuring that your tires are inflated to the appropriate level for your vehicle is a simple but crucial way to improve your vehicle’s fuel economy as well as performance. Be sure to inflate tires to the pressure specified by your vehicle’s manufacturer, rather than the PSI specified on the tire. After market add-ons, such as roof racks and wind deflectors, decrease the aerodynamic efficiency of your vehicle. Removing such items reduces resistance and thus allows your vehicle to displace air the way it was designed.

Saving fuel is like saving money—every bit counts. By taking conscious action to maximize the fuel efficiency of your vehicle, you will minimize your contribution to pollution and save yourself some money at the same time.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading provider of used cars in Austin TX. For more information please visit Greg Chapman Motors.