The value of a car begins to drop the moment it leaves the dealership, and this decline happens rapidly. Typically, vehicles lose about 20% of their value within the first year, and after five years, depreciation can climb to around 40%. However, there are ways to slow this process.
Prioritizing regular maintenance is key to keeping your car in good condition and reducing depreciation. Routine services like oil changes, tire rotations, and scheduled inspections ensure your vehicle remains in optimal shape, helping to retain its value over time. Following your mechanic’s advice is an essential part of this upkeep.
Maintaining a detailed record of all maintenance and repairs—complete with dates, mileage, and the work performed—is another wise strategy. A clear service history demonstrates that the car has been well cared for, which can boost its appeal and resale value when it’s time to sell.
When buying a car, it’s also smart to consider its potential resale or trade-in value. Consulting with a reputable car auction company can give you insight into market trends, making it easier to plan for a future sale or trade.
For more tips on protecting your car’s value and maximizing its return, explore the infographic below.
Comments are closed.