When you buy a new vehicle, its value begins to depreciate almost immediately, losing about 20% right after leaving the lot and up to 40% within the first five years. However, there are ways to slow down this depreciation.
Routine maintenance plays a crucial role in preserving your vehicle’s value and ensuring it remains in great condition. Regular oil changes, tire rotations, and scheduled inspections should be key components of your vehicle care routine. Listening to your mechanic’s advice can also help minimize depreciation.
Additionally, keeping thorough records of all services and repairs, including dates, mileage, and work performed, can enhance your car’s resale appeal. This documentation not only demonstrates that your car has been well cared for but can also make it more attractive to potential buyers by showcasing its proper upkeep.
Since a car is a major investment, it’s wise to consider its trade-in or resale value early on. Partnering with a reputable car auction company can give you valuable insights into your car’s current market value, helping you secure the best offer when it’s time to sell or trade.
For more tips on protecting and enhancing your car’s value, check out the infographic below.
