Classic cars are purchases of passion: Bonhams
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Experts at Design 911 warn the value of a new car can drop more than 20 percent after 12 months of ownership meaning drivers need to take all precautions they can to avoid prices falling. They warn excessive wear and tear can cause a huge financial cut in the resale opportunities of a vehicle while any visible damage can write off almost all of its worth. Karl Chopra, spokesperson for Design 911 outlined the easiest ways drivers can retain some of their cars resale value despite challenges.
Keep the car in a garage
Experts warn owners who purchase classic cars to ensure there is enough room to store the vehicle in a garage.
Mr Chopra said: “This will ensure that your car isn’t damaged by any changes to the weather such as the cold, bright sunshine, hail or snowstorms.
“A garage will also protect the car from branches and debris which may fall from nearby trees.”
Holts Auto says a brick garage offers the best protection for a historic vehicle as they can maintain a stable temperature and are mainly moist-free.
Condensation in cold conditions can cause water to leak onto your classic cars fuel tank which will lead to damages.
For those who need to store a car outside, drivers are urged to invest in a purpose-built cover to protect it from the elements.
Don’t smoke in the car
Experts art Design 911 warn cigarette fumes can be hard to remove from a car’s fabric or upholstery.
They warn sprays and strong cleaners may not be enough to get rid of the smell which will reduce its resale value years down the line.
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Keep mileage low
Drivers have been warned a car’s overall mileage will have a major outcome on the value of a vehicle when drivers come to sell it.
They urge motorists to restrict the number of miles they do to ensure they are not selling a model which is past its best.
This will be easier for classic car owners who usually only drive their car as a hobby and not day-to-day.
Mr Chopra: “It can be surprisingly easy if you use your car as more of a weekend ride rather than using it as your main A to B vehicle.
“Not only does this lower your carbon footprint, but it will also save you hundreds, if not thousands when it comes to the resale of your car.”
Get your car waxed
Retaining the condition and look of your car is important when it comes to the resale of a vehicle.
Collectors will likely pay extra if they find a historic model with its original bodywork and colour schemes making this even more important for classic owners.
Experts at Design 911 said to retain this condition drivers should aim to get their car waxed at least a few times a year.
Mr Chopra said: “This will not only protect the surface but also help to maintain the colour of your car for longer.
“The quality of the paint job is usually the first thing people check when looking to buy a new car, so ensuring this is spotless is key.”
Owners should be able to get their car waxed for around £15 and could save them hundreds in the long run.
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