Why Your Vehicle’s Value Matters More Than You Think
Most people think about their vehicle’s value only when it’s time to sell or trade it in. However, waiting too long to check your vehicle’s value can result in a missed opportunity to maintain the maximum value of your vehicle.
For example, not checking for active recalls is one missed opportunity that can lower your vehicle’s value. Unresolved recalls can reduce trade-in value, while staying informed helps protect your safety, maintain your vehicle’s value, and potentially reduce repair costs.
Vehicles depreciate fast, losing 20% of value in the first year and up to 60% over 5 years if not well maintained. Knowing its value can mean more money in your pockets during trade-in or negotiating power if you choose to sell it.
The Hidden Risks: How Missed Recalls Impact Safety and Value
Vehicle recalls are common, with 1 in 5 vehicles on the road today having an open safety recall. Many of these involve brakes, airbags, steering, or fire risks. Additionally, Studies show over 25 to 30% of recalled vehicles are never repaired, often because owners simply never received or noticed the alert.
A vehicle that’s up-to-date signals responsibility and reliability. Be sure to know the following when checking your vehicle’s value so you know how much your car is worth upon trade-in:
- The right time to trade it in
- Vehicle maintenance history
- Mileage and condition changes
Stay Informed with AutoPayPlus
AutoPayPlus makes it easy to monitor your vehicle’s value and receive recall alerts through your Member’s Portal. You are able to view your vehicle’s recall alerts and stay ahead of potential issues before they affect your car’s value.
