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Article originally posted on www.insuranceneighbor.com(opens in new tab)
Buying a new car requires a substantial investment today—one you will want to protect. According to the Kelly Blue Book, new car prices are currently averaging:
- $20,000 for a small car
- $25,000 for a midsize car
- $26,000 for a small SUV
- $32,000 for a minivan
- $33,000 for a midsize SUV
- $39,000 for a small luxury car
If you have recently purchased a new vehicle or are planning to do so, the following are some steps you can take to protect your investment.
Park Your Car In The Garage
Many people use their garages for storage and park their vehicles in the driveway or on the street. That could lower the value of your car because it leaves it exposed to the elements. Sun, heat, wind, hail, rain, snow, debris, and falling branches can all cause damage to your vehicle. If you don’t have a garage, consider installing a carport to help protect your investment.
Don’t Smoke In Your Vehicle
Cigarette smoke imparts an unmistakable odor to the interior of a car. It can also dull interior surfaces or cause them to turn yellow. If you smoke in your car or allow someone else to do so, it will reduce your potential resale market significantly and lower the value of your vehicle.
Get Regular Oil Changes
Regular oil changes are the most cost-effective maintenance you can do for your car. They are relatively inexpensive (approximately $30 to $50 per oil change) and can help prevent major engine problems in the future. It is generally agreed that the 3,000-mile oil change rule of the past is outdated. With innovations in technology, the new interval for changing your oil is closer to 5,000 miles or more. Check your manual to find out what is recommended for your new vehicle.
Have Your Car Tuned Up Regularly
Mechanical parts work together and problems can be progressive. A small issue now can become a large, expensive issue later. Regular tune-ups will make your car run better and more quietly and help prevent significant problems that could substantially lower its value.
Clean Up Spills As Soon As Possible
Although most car interiors are designed to resist staining, it is still essential to clean up spills promptly when they occur. Stains can become permanent if they are allowed to sit for too long. This is particularly true for children’s drinks with red food coloring. Coffee and tea can also leave permanent stains if not removed at once.
Carry Sufficient Auto Insurance Coverage
Having the right auto insurance is one of the most important things you can do to protect the value of your new vehicle. If you finance your car, you will be required to carry full coverage by your lender. The cost of car insurance can depend on several factors, including your driving record, where you live, and whether your bundle your auto and homeowners policies together. Our experienced agent can help you find the right car insurance coverage to protect your investment at the best available rates.
Filed Under: Personal Insurance | Tagged With: Auto Insurance, Car Insurance