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Taking care of your car is one of the best ways to make it last longer, save on repairs, and keep it safe.
Here’s a simple guide to the maintenance habits that pay off both now and later.
Find out how much auto refinancing can save you
You could save an average of $1,812/year!*
Why car maintenance helps with refinancing
When you refinance, lenders look at your credit, your current loan, and the value of your car. That last part is important. Value is part of the loan-to-value ratio (LTV), which compares how much you owe to what your car is worth. A lower LTV can make your application stronger. Keeping up with maintenance helps your car hold its value, which can keep your LTV in a healthier range.
The comprehensive maintenance checklist
1. Oil and filters
Change oil on schedule and use the right type for your car. Don’t forget engine and cabin filters—clean filters keep your engine and air systems working smoothly.
2. Tires
Check pressure monthly. Proper inflation helps safety, fuel economy, and tread life. Rotate every few thousand miles and fix alignment if the car pulls to one side.
3. Brakes
Listen for squeaks or grinding. If the pedal feels soft, get them checked. Safe brakes mean fewer surprises and a smoother inspection.
4. Fluids
Coolant, brake, transmission, and power steering fluids all matter. Top them off and replace as instructed by your car manual.
5. Battery
Batteries lose strength in the cold. If your battery starts to feel sluggish, have it tested. Cleaning corrosion from terminals can also extend life.
6. Dashboard lights
Don’t ignore them. A lit check-engine or warning light can lower your car’s condition rating during valuation.
7. Clean inside and out
Wash and vacuum regularly. Cosmetic condition influences appraisal value more than most people realize.
8. Windshield and wipers
Fix small chips before they spread. Replace wipers when they streak to keep visibility sharp.
9. Transmission care
Follow your service schedule. If you tow or drive in extreme conditions, ask if you should follow a “severe duty” schedule.
10. Recall check
Use your VIN on the NHTSA site to see if your car has any open recalls. Fixing recalls is free and protects value.
11. Maintenance log
Save receipts and jot down what was done and when. A simple log shows buyers or lenders that your car has been well-cared for.
12. Keys and fobs
If you only have one working key, get a spare. Replacements can cost hundreds of dollars, and missing keys can lower trade-in or appraisal value.
Seasonal reminders
Year-round: run a recall check twice a year and keep your log updated.
Winter: test the battery, check tire pressure, and swap in winter washer fluid.
Summer: check coolant and tire pressure (heat raises PSI).
Once you’re caught up on your car maintenance, check your refinance options through Caribou. Even a small drop in rate or a better term can help offset maintenance costs and lower your monthly payment.
FAQ
Does good maintenance guarantee a lower refinance rate?
Not by itself. Rates depend on many factors. But care helps protect your car’s value, which plays into your LTV and may improve your options.
What is LTV?
Loan-to-value compares what you owe to what your car is worth. If you owe $15,000 and your car is worth $20,000, your LTV is 75%.
How often should I check tire pressure?
At least once a month and before long trips.
How much does it cost to replace a key fob?
Often between $150 and $500 depending on the make and model.
