There are five common mistakes South African motorists tend to make that can drastically reduce the value of their cars.
This is according to Naked Insurance co-founder Ernst North, who recently outlined the practices that can hurt a car’s resale value, and how to avoid them.
Car practices to avoid
The first and arguably most important thing to an owner must do is regularly take their vehicle in for services and maintenance.
Many South Africans tend to put off a trip to the workshop while others forgo it altogether, but this can cause several problems down the line.
Failing to catch a small fault early on is likely to result in a much bigger issue later with a hefty repair bill.
It will also make it difficult to sell your car, as customers are more willing to pay for a vehicle that has been well-maintained with a full service history.
Naked recommends that motorists stick to authorized dealers or RMI-approved workshops and to regularly take your car for a service.
Failing to do so may void the vehicle’s warranty, and insurers are also unlikely to pay for claims when they can determine that a fault was caused by neglect.
Relating to maintenance, the next thing that can hurt your car’s value is failing to fix small dents and scratches.
Again, households tend to ignore or overlook these things, but they will reduce the price you get when selling.
Small scratches can also lead to rust or corrosion, and they give the impression to buyers that you haven’t looked after the car.
Depending on the size of the scratch, it’s worth considering whether the repair cost is higher than your insurance excess and if it justifies risking your no-claims bonus.
Another factor that is of upmost importance is ensuring that you hold onto all of your car’s relevant documents and paperwork.
It may be tempting to bin some of these items, but everything from repair invoices to the service record and handbook are evidence that show you are taking diligent care of your model.
One practice that is common in South Africa that can hurt your wallet in the long term is car modifications, which are generally seen as a red flag to potential buyers.
This is particularly the case when it comes to mods that alter the car’s styling or performance.
If you really have your heart set on adding something like a new exhaust, Naked advises that you hold on to the original parts so you can refit them if and when the time comes to sell.
It’s also important to note that you must notify your insurer when modifying your vehicle, as failing to do so means they can potentially deny coverage in a crash.
On that note, car mods may also lead to a higher premium, so it’s generally something you should just avoid to prevent a headache down the line.
One final thing motorists tend to not think about is to give their car proper care and attention.
This ties into the previous point about dents and scratches but goes a step further with good habits that will preserve your wheels for as long as possible.
Don’t leave your car out in the sun and the rain if sheltered cover is available, and look after the interior to avoid issues like stains, faded upholstery, and corrosion on any metallic components.
“Maximising your car’s resale value doesn’t require magic; it’s about care, maintenance, and a bit of savvy,” said North.
“By breaking these habits, you’ll not only enjoy a more reliable ride while you own it, but also ensure you’ll get the best possible price for your car when it’s time to sell.”
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