The instant you drive a brand-new car off the dealership lot, its value begins to decline—and it happens quickly. Typically, vehicles lose about 20% of their value within the first year, and after five years, depreciation can reach as high as 40%. However, there are strategies to slow this down.
Regular maintenance is essential for keeping your car in good condition and preserving its value. Routine services such as oil changes, tire rotations, and periodic inspections are vital to ensuring your car runs efficiently and helps reduce depreciation. Following your mechanic’s recommendations can make a significant difference.
Another smart step is keeping detailed records of your car’s maintenance history, including service dates, mileage, and any repairs. These records not only show that your car has been well cared for but can also increase its resale value when you decide to sell.
When purchasing a car, it’s important to think about its future trade-in or resale value from the outset. Consulting with a reliable car auction company can provide valuable insights into current market trends, enabling you to make a well-informed decision when it’s time to sell or trade your vehicle.
For more advice on preserving your car’s value and maximizing its resale potential, check out the infographic below.
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